Guinea Recommends Revoking Aredor’s Diamond Mining License

The government of Guinea has accused Aredor, the West African country’s largest diamond miner, of having “practically stopped all activities for three years,” despite promises it made to various ministers. Guinea’s mines minister has recommended canceling its diamond exploration license.

Aredor, 85 percent owned by Azure Resources Corp (previously Trivalence Mining), according to Reuters, operates a concession in the center of the country, approximately 400 kilometers (250 miles) north of the capital. The remaining 15 percent of the firm is owned by Guinea’s government.

Officials at the Ministry of Mines said that, prior to the halt in operations, Aredor produced about 12,000-38,000 carats per annum.

The government is currently in the process of reviewing minerals contracts in the country in order to maximize the industry’s income, which is its main source of foreign exchange, the report stated.