ASX-listed Newfield Resources on Thursday approved the $29.4-million development of the Tongo diamond mine, in Sierra Leone, announcing that it would raise $30.5-million through the issue of unsecured corporate bonds.
“We are delighted to have agreed a funding package that allows us to commence construction of the company’s flagship Tongo diamond mine development. We will now move to commence development activities at Tongo following the positive final investment decision made by the Newfield board,” said executive director Karl Smithson.