Sierra Leone's biggest diamond miner sacks management

Politico can authoritatively reveal that five of the top management staff of OCTEA Diamond Group formerly known as Koidu Holdings Limited, have been sacked. They are the Chief Executive Officer, Jan Joubert; the Chief Finance Officer Jacobus Petros Ronge, the Chief of Operations, Dino Coutinho, The Chief Geologist, Dr Laurel, and the Chief Communication Officer, Ibrahim Sorie Kamara. An email sent to senior management staff on 11 January 2013 on behalf of the company owner and seen by Politico, instructs that no communication be made with the above men. The new man in charge of the company sent by Beni Steinmetz, its sole Israeli owner is Christo Swanopoel who is the Ag. CEO No reasons have been given for the purge at Sierra Leone’s largest investor in its diamond mining sector but it comes in the wake of a violent workers’ strike in December last year, the second in 5 years, which led to the killing of at least two people and the disruption of work for weeks. No senior staff of the company would comment to Politico on the matter. A senior official of the company, who does not wish to be named, has confirmed that some members of the top management team have been laid off. But they do not wish to give detail. Another source also intimated Politico that instructions had been given by the company’s owner to move its headquarters away from South Africa to a country in the West. According to the company’s website, since 2003, Beny Steinmetz Group Resources Ltd (BSGR), the shareholder of Koidu Holdings S.A., through BSG Diamonds Ltd, has invested over $300 million into the development of the Company and the upliftment of its communities. “A major restructuring exercise was initiated towards the end of 2011 to enable the group to invest in other exploration and development opportunities in Sierra Leone and to attract financing partners for the injection of a further anticipated $600 million to $1 billion into the country’s mining sector.” It was renamed OCTÉA Ltd last year. Controversy has characterized the operations of the company not least because of its kimberlite mining blasting and displacement of inhabitants in the neighbourhood and the subsequent relocation plan which has received some flak. (C) Politico 05/02/13