Namibian billionaire Quinton van Rooyen has obtained $25 million in funding to boost diamond production in Sierra Leone, expanding his footprint in West Africa’s mining industry via Trustco Group Holdings’ support of Meya Mining.
Quinton van Rooyen’s Trustco Group Holdings has secured $25 million in financing to accelerate diamond production at Meya Mining in Sierra Leone’s Kono District, following an agreement finalised at the Mining Indaba conference in Cape Town. The funding is set to speed up operational expansion, supporting steadier output and stronger cash flow at the resource-rich site.
Scaling to Commercial Production
Meya Mining holds an exclusive long-term diamond licence in Kono, a region known for high-value stones and fluctuating production. The Ecobank-backed facility will finance advanced processing equipment, mining vehicles, and essential infrastructure, crucial for stabilising operations where plant reliability directly impacts revenue.
Economic Impact and Local Benefits
Sierra Leone’s Ministry of Mines and Mineral Resources hailed the funding as a key economic boost. Mining Minister Julius Mattai noted that it will help Meya transition from early development to full commercial production, creating thousands of indirect opportunities, with over 90% benefiting local communities. The project is expected to sustain more than 400 direct jobs while supporting local procurement and service supply chains.
Officials highlighted that the financing will strengthen the national financial system and help retain more value from diamond operations domestically.
Trustco also indicated that the funds could support downstream activities such as cutting and polishing, enhancing local beneficiation of diamonds.
Part of a Larger Capital Strategy
This $25 million facility is part of a broader $100 million capital framework supporting the mine. In 2023, Trustco sold 70% of Meya Mining to Sterling Global Trading for $25 million in cash and a $25 million loan, with plans to raise additional funds from third-party sources.
The latest financing underscores sustained investor confidence as Meya enters a critical growth and scaling phase.