Estonia, Financial Services, Markets and Companies
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Saturday, 05.10.2024, 05:14
Estmor Service Transiit to mine gold and diamonds in Africa
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UMC inc., Global Mining corp., and Global Mrketing Liberia inc., the subsidiaries of Estmor Service Transiit OÜ, bought a permit from Liberian government to start two diamond and gold mines last spring.
The company may get at least 10-11 tons of gold from Bangorma mine. Geologists, who currently work there, say that there might be about 500,000 carats of diamonds.
"There is enough work for years. We want to sell the other mine and we've already found a buyer. We're sorry, but this workload and investment is too much for us," one of the co-owners of the company, Vjatcheslav Santashev said.
They invested about 2 million dollars to Bangorma mine. Twelve of 35 employees working there are from Estonia and Russia.
Considering the current gold price, the company aims to earn the investment back in six months.
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