The West Africa-focused firm said it was verbally informed of the approval by the country's Minerals Advisory Board.
Sierra Leone Mining News
The permit marks another key step in the process of moving towards development of the 1.45 million carat diamond resource in the West African country, said the company.
The discovery of the 55-carat diamond confirms the presence of large stones in the area, said the company.
African Minerals Limited (OTCMKTS:AMLZF) is being sued in a London court over allegations that it evicted residents and violently mistreated workers and villagers living close to one of its mines in Sierra Leone.
The move marks a key milestone as the diamond company moves from explorer to miner.
The 64-year-old American-Belgian citizen has become the first businessman ever arrested for suspected involvement in the illegal trade of “blood” diamonds.
Iron ore project will remain suspended until the company either releases $102 million in restricted cash or can secure other short term funding.
Report shows there are 39 assets in production within the Ebola-affected region.
Frank Timis has got $20 million to acquire the mine bordering its own iron ore project Tonkolili.
And the rapid fall in the iron ore price, the Sierra Leone miner's dispute with Glencore and the slow rampup. But especially Ebola.
The iron ore miner warned Wednesday that its shares now had "little or no value."
Deutsche Bank warned Friday that gold producers are the most vulnerable to a further spread of the deadly disease.
The iron ore producer warned it did not have sufficient cash to operate Marampa, its only mine.
Company lowers production guidance at Marampa mine in Sierra Leone as outbreak impacts supply chain and ramp up.
Tighter border controls are set to disrupt the flow of essential supplies and even workers trying to get to work at the African country's mining operations, companies say.
After the WHO declared the current outbreak an “international public health emergency.”
London Mining tells eight staff at Marampa mine to go home and imposes travel restrictions after deadly fever spreads from neighbouring Guinea and Liberia.
50 mines are estimated to account for 90% of global rough diamond supply in 2014.
Shares of African Minerals surged 47% on Thursday after one of China's largest iron-ore trading companies injected $990 million into its Tonkolili mine.
And what can be really done to choose certified conflict-free diamonds.
The African diamond exporter shipped out diamonds worth $102 million in the first half of the year.
The heart of Africa has been beating strong in recent years due to elevated commodity prices and resilient domestic demand, despite the global economic slowdown.
Officials from Sierra Leone, Ivory Coast, Guinea and Liberia are meeting in London this week.
PHOTOS: Gemstone mining in western Africa is a tough slog every day.
With the exception of Ghana and Cape Verde, which were ranked as “medium risk” in the index published Wednesday, all others were classified as “high risk."