Trustco Resources on Friday last week revealed the discovery of the 29th largest 476 carat diamond in the province of Kono District in Sierra Leone.
Any value indication is still unknown.
Meya Mining, has won government approval to export it and the diamond is to be sold at an international auction.
Meya holds a four year exclusive diamond exploration licence EL: 07/2015 (the licence) over an area comprising of 130.38 km², a kimberlite concession spanning from the Kamara, Gbense to the Tankoro chiefdoms in Kono District, Sierra Leone.
The remaining 49% interest in Meya is held by Germinate Sierra Leone (Germinate), the original licence holder.
In addition to the 476 carat diamond discovery, two other special diamonds of 19.70 carats and 27.93 carats were discovered on the same day in the same district.
‘Peace Diamond’ auction
It plans to auction off the massive 709-carat diamond on 4 December in New York.
The stone, which was unearthed in March, is the largest discovered in Sierra Leone in almost a half-century and is between the 10th and 15th largest ever found worldwide.
The money raised from the sale will be used to improve the lives of poor artisanal diggers and the people of Sierra Leone where it was discovered.
Since the diamond was found in a village that does not have clean water, electricity, medical facilities, a school, roads or bridges, the aim is for the proceeds after taxes to be used to provide vital, life-saving infrastructure and to improve the lives of tens of thousands of the poorest people in the world.
“I believe this is a perfect example of the good that diamonds can do for some of the poorest people in Africa,” says WFDB President Ernie Blom.
“We, as an industry, don’t tell the general public enough about the benefits that diamonds do for diggers and miners and their families across the African continent,” he continues.
“This diamond is being sold in the right way, with the aim of providing the people of Sierra Leone with direct help in their everyday lives. Diamonds can, and do, make the world a better place, and I hope this succeeds because it will clearly provide assistance to some of the neediest people in Africa,” Blom adds.
The Peace Diamond will be on display in Antwerp until November 15, before moving on to New York for viewing until the auction takes place on December 4.
The Rapaport Group is facilitating viewing of the diamond, and interested buyers can contact the firm.
Feature image credit: Trustco Resources