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conflict but Octea’s vision is to demonstrate clearly that diamonds can be a social good and a source of hope and a key element in developing the country. While the company’s educational and social upliftment programme is handled by the Foundation, it had to take responsibility for five settlements of people who were affected by the development of the Koidu Project and who in December 2007 agreed to be relocated. The initial agreement covered five settlements but the mine’s expansion plans mean that more people will have to moved. While the communities affected by the 2007 agreement were all settled by last year, Octea is now embarking on a second phase that will involve building houses within an extended area. The company has done the assessment and signed a co-operation and action plan agreement and is now embarking on the second phase. And these kinds of negotiations are necessary because production is soaring. As Reuters reports, thanks largely to increased production at Koidu Holdings, Sierra Leone exported $102 million worth of diamonds in the first half of 2013 as opposed to $71 million for the same period last year. Around 10 percent of Octea’s revenue goes to the government, five percent to the host community, three percent to the district council and two percent to the city council. And this is over and above mining fees and exploration fees and the 0.25 percent it contributes to community development. To date, Octea is the largest diamond mining company in the country and that makes it very important as far as developing the country is concerned. Thus the lifting in 2003 of a UN implemented worldwide ban on diamonds exported from Sierra Leone was important to both.
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While the civil war was notoriously funded by “blood diamonds” mined under rebel directive, the country is now a signatory to the Kimberley Process. This joint initiative by governments, civil society and industry was aimed at stemming the
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flow of conflict diamonds and the country and company have adhered to it strictly. We’re sure that Sierra Leone has turned the corner and with the scope of the Octea Diamond Group’s plans and its input, the country even may be able to speed up.