Sierra Leonean diamond miner Koidu Holdings is studying a possible flotation and aims to reach a previously stated target of quadrupling its output to 45,000 carats a month in July. "There is significant benefit in having access to capital markets ... Discussions are taking place," Chief Executive Jan Joubert told Reuters in an interview on Thursday.
Joubert said a $200 million expansion of its existing facility would push output from a current 10,000 carats a month to 35,000 in May and to 45,000 carats in July. Koidu is privately owned by billionaire Israeli diamond trader Beny Steinmetz's BSG Resources through its Octea diamond unit. The proceeds from any IPO would go towards developing the separate Tongo diamond concession south of the Koidu project.