EXPLORATION & PRODUCTION
n°321 - 20/05/2014
Tigui Mining has its eyes firmly on diamonds
The American concern Tigui Mining Group (TMG) is in exclusive talks with Ivory Coast’s government on acquiring the first diamond exploration rights to be granted since the United Nations lifted its embargo on exports of Ivoirian gems at the end of April (AMI 320). The company’s founder, Tiguidanke Camara, who holds double Guinea-American citizenship, is banking on her relations with Mamadi Diane, the president’s diplomatic adviser, and legislator Kamara-Toungara, wife of the former mines minister Adama Toungara (he is now oil minister) to help her win the licenses. For the moment, however, no agreement has been reached.
Operating since 2012, Tigui hasn’t all that much experience in the mining sector. The group got its first foothold in Guinea after president Alpha Conde took office, by founding the affiliate Camara Diamond & Gold Trading Network (CDGTN). The latter firm has a gold exploration license at Siguiri in north-east Guinea close to the Siguiri mine owned by AngloGold Ashanti Ltd. and two diamond reconnaissance licenses at Kerouane and Macenta, in the south-east some 750 km from the capital, Conakry.