First Diamonds from Sierra Leone’s Tongo Mine Coming to Market
Australian company Newfield Resources is developing the mine and will sell its production through Bonas Group in Antwerp.
Newfield Resources Ltd., the company developing the mine, announced in late April it had inked an exclusive diamond sales and marketing agreement with Bonas for the mine’s production.
Via its partnership with Bonas, Tongo goods will be tracked from mine to market using Sarine Technologies’ traceability program, Newfield said.
The mine, which has been in the works for more than decade, is “well known for its high-quality material,” Bonas said.
Tender viewings of the Tongo material will take place on the first floor of the Bonas Group offices in Antwerp between May 16 and 20.
The sale is scheduled to close May 20 at 1 p.m. CET/7 a.m. EDT and will be an online, highest bid tender on Newfieldbids.com.
Bookings for the tender are invitation-only, but requests can be submitted to Bonas Antwerp. Interested clients are requested to call the office at +32 (0) 3233 7080.
Based in Australia, Newfield has been developing the Tongo Diamond Project since 2018, when it acquired the site from Stellar Diamonds.
The project comprises two adjacent mining licenses covering a combined area of 134 square kilometers (about 52 square miles) in eastern Sierra Leone with five primary kimberlite pipes.
The first two pipes Newfield will mine have been dubbed Kundu and Lando.
Newfield said processing from the underground and surface at Kundu continues to yield “encouraging results,” with a high proportion of what’s recovered turning out to be gem-quality diamonds.
It is believed Tongo will produce 8.3 million carats of diamonds over the span of its life, including an indicated and inferred resource of 3.03 million carats at Lando and 2.76 million carats at Kundu.
Newfield employed 200 people at the mine as of March 31, including graduate trainees, contractors, and interns. Of the 200, 166 (83 percent) are local Sierra Leonians and 128 (64 percent) have permanent employment contracts, it said.
Twelve percent (about 20 people) of the local employees are women. Newfield said it intends to increase the number of women working at the mine, in line with its diversity policy.
In addition to Tongo in Sierra Leone, Newfield is conducting diamond exploration in neighboring Liberia via two licenses covering 670 square kilometers (about 259 square miles), known collectively as the Kumgbo Kimberlite Project.
Jewelry and objects belonging to Bette Midler, heiress Hélène Irwin Crocker Fagan, and Lady Sylvia Ashley were among the highlights.
The company opted not to raise its fiscal guidance, citing a slowdown in the U.S. market as a key reason.
When it comes to knowing the identity and quality of your pearls, count on GIA as your independent pearl experts.
From “old-school” eBay to new kid on the block 1stDibs, we asked jewelers about their experiences selling jewelry in non-traditional places.
She has nearly 30 years’ experience in the gem and jewelry industry and a background in nonprofit management.
Senior Editor Brecken Branstrator chooses the pieces she’d most want to see in person.
Advanced technology levels the playing field, helping jewelers give customers what they want.
“Today’s Wedding Jewelry Consumer” shares data about engagement ring market size, lab-grown and natural diamonds, and more.
Several Couture brands have partnered with Platinum Guild International ahead of the jewelry trade show.
The jewelry company is moving into bridal just a month after branching out into the watch world.
The Generating Community Impact fundraiser on June 11 will feature Karine Bah Tahé of Blue Level Training.
Kaiser, whose illustrious career spanned decades, died suddenly on Friday.
He will step into the retailer’s newly created role of chief development officer.
GemIntro is meant to give a broad introduction to gems and gemology.
Three industry experts discuss “recycled” gold vs. mined, their challenges and benefits, and how jewelers can navigate the area.
Cartier, Van Cleef & Arpels, and Buccellati put on stellar performances.
The New York jeweler made this incredible, colorful Art Deco bracelet featuring tropical birds in 1927.
From a slowdown in sales growth to rising costs, Fruchtman Marketing outlines its expectations for the second half of the year.
Once a part of Julius Klein Group, the diamond company combines its direct supply and cutting expertise with a keen eye to the future.