A major trader in the Liberian diamond sector, Youssef Diamond Mining Company (YDMC), has announced that there is an enormous potential of high grade diamonds in this country, specifically in Camp Alpha, Northwest Liberia.
Making the disclosure May 18, 2021 at the Kenedja Resorts in Paynesville, Mr. Roger Youssef, during a meeting with the Government of Liberia, averred that he has brought the best geologists from around the world to help achieve the scientific data which proved that Kimberlite diamonds are underground in that part of the country.
He said if Liberians decide not to go forward to explore the minerals but allow other entity to take over and establish a park, they would bury the nation’s huge worth of resources.
The Liberian business guru noted that, with the economic hardship the country is confronted with today, any discovery in the magnitude the country has and his entity is successful as a mining company, would be an enormous amount of revenue for the Government that can make a huge impact in the lives of Liberians.
Mr. Youssef said: “Kimberlites have built nations. One Kimberlite pipe is billions of dollars. We have the highest pipes in West Africa, better than Guinea, Sierra Leone, Mali and Ivory Coast and we are hoping that in time we can move to explore, we can match the world and put up worth of diamonds to benefit Liberia.”
He said, as CEO of YDMC, he is responsible for international funding, keeping the guideline of the Liberian Constitution and minerals laws that govern exploration and mining.
Mr. Youssef, who is also a geologist, expressed his frustration over the stalling or low pace of support, saying, “The support we need is not going at a fast pace for us to carry on our objective.
“We need help from Government line ministries and people to become part of us and show us a clear path to achieve our objective rather than stalling it.”
The YDMC CEO revealed that his company is currently working on papers to finally seal the signing a Mineral Development Agreement with government.
Earlier, during his presentation, the Chief geologist of YDMC, Mr. Stephen Haggerty expounded on the highly successful results of the YDMC’s field exploration program, adding that there is strong supporting evidence of diamond – proxy indicator minerals, and the long history of recovered diamonds, a decidedly favorable is predicted in the Bulk Sampling Program to determine grade, quality, and resource potential of the dikes and pipes at Camp Alpha.
The renowned world geologist explained further: “The 1-2 km of Kimberlite erosion, with its cargo of diamonds, are alluvial deposits in streams, river and depositional terraces, these are an additional, high value resource.”
He also said the continued application of the satellite image data, Aster being the first for Kimberlite, the association of Pandanus candelabrum, as a new geo-botanical indicator for Kimberlites, the recognition of super deep lower mantle xenoliths indicative of large, extremely valuable Type II diamonds, logically extends to the entire YDMC tenement priority targets in place.
He said the economic potential is unequivocally enormous.
Also at the meeting, authorities of the Ministry headed by Emmanuel O. Sherman, Deputy Minister for Operation at the Ministry of Mines and Energy lauded the YDMC management for the meeting, and said the special extension for mining companies’ paper works will expire on June 3, 2021.
Mr. Sherman urged the YDMC to fast strike paperwork that are under query because the time was running out.
“We are willing to grant another extension based on condition of precedent, submit quarterly and annual reports before any extension can be granted”, the Deputy Minister for Operation emphasized.
Representing the Legislature, the Chair on Mines and Energy at the House of Representatives, Rep. Vincent Willie, indicated that the YDMC intention to establish a mining company will be to the benefit of Liberians.
He said as a politician he is more concerned about the benefits to the people.
Also attending the meeting was another Liberian investor, Ct.com Manager Christopher Onanuga, who said the technique of the presentation bordered on the authorities of the Liberian Government.
He said the role of the ministry is to encourage and help investors raise funds to invest in Liberia.
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