27 Nov 2015 07:00
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.
27 November 2015
AIM: STEL
Stellar Diamonds plc
("Stellar" of the "Company")
SUBMISSION OF TONGO MINING LICENCE APPLICATION AND
ENVIRONMENTAL IMPACT ASSESSMENT
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa, is pleased to announce that it has formally submitted to the National Minerals Agency (NMA) of Sierra Leone its application for a large scale mining licence for the Tongo project. This application will be processed by the NMA and then forwarded to the Minerals Advisory Board (MAB) for consideration. The MAB, after its consideration, will then make its recommendation to the Minister of Mines for approval of the mining licence.
The final Environmental, Social and Health Impact Assessment (ESHIA) report has been submitted to the Environmental Protection Agency (EPA) for consideration. In order to complete the process with the EPA, public disclosure meetings will be held in the New Year both in the project area and in Freetown, after which the ESIHA can be approved by the EPA and the required environmental licence issued.
Chief Executive Karl Smithson commented:
"The submission of the Tongo mining licence application and ESHIA marks a key milestone in the development of the project as we make the transition from exploration to mining. Notably, as far as I am aware, this is the first large scale mining licence of any kind to be applied for since the onset of the Ebola crisis. As such this therefore also marks an important milestone for the country of Sierra Leone which needs to attract new private sector investment to contribute to its post-Ebola economic recovery. I look forward to providing further updates as these applications are processed."
**ENDS**
For further information contact the following or visit the Company's website at www.stellar-diamonds.com.
Karl Smithson, CEO Philip Knowles, CFO | Stellar Diamonds plc Stellar Diamonds plc | Tel: +44 (0) 20 7010 7686 Tel: +44 (0) 20 7010 7686 |
Martin Lampshire Emma Earl Jo Turner | Daniel Stewart & Company plc (Broker) Cairn Financial Advisers (Nomad) | Tel: +44 (0) 20 7776 6550 Tel: +44 (0) 20 7148 7900 |
Lottie Brocklehurst | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
Charlotte Heap | (Financial PR) | Tel: +44 (0) 20 7236 1177 |
About Stellar Diamonds plc
Stellar is an AIM quoted (AIM: STEL) West African focused diamond development company which is continuing trial mine evaluation of its Baoulé kimberlite in Guinea, and is progressing the 1.45 million carat Tongo Dyke-1 resource through the mining licence application process. In addition, Stellar holds the 3 million carat Droujba project in Guinea and continues to pursue channels to ensure the proper reinstatement of its Kono licences in Sierra Leone.