Alto Group Acquires Rights to Diamond, Gold Concessions in Sierra Leone
Post Date: 18 Feb 2011 Viewed: 488
Alto Group Holdings has acquired the mineral rights to 24 diamond and gold concessions in Sierra Leone, tradingmarkets.com reports.
The Group said that 20 of the concessions are located in Sierra Leone's Levuma region and an additional four sit in the Punduru Chiefdoms. All of the sites are described a "prolific" diamond and gold fields that are ready to be explored and developed.
The value of the deal, conducted through Alto's partner St. Watson Mining Company, was not published.
Most of Sierra Leone's diamond mining is centered in Koidu-Sefadu in the eastern Kono District, near the border with Guinea and Liberia. Since the mid-1990s foreign mining companies have invested heavily in exploring the country's kimberlite resources.