Citigate Commodities Trading Limited, a Dubai-based company officially announced the acquisition and launch of a 79.9 sq km diamond mine in Sierra Leone at a gala event held at Ritz Carlton DIFC. Hosted by the CEO of the Citigate International, Mr Tohib Iyiola, the ceremony was also a celebration of the company’s first anniversary of Dubai office. The event was graced by the presence of H.E. Al Haji Minkailu Mansaray, Minister of Mines and Mineral Resources from Sierra Leone. He was joined by many other dignitaries, business leaders and industry experts who flew in from all corners of the world to attend the grand launch of Safa Afrique project.
“We are proud to announce that tonight, we have achieved our first milestone towards our vision by launching the Safa Afrique diamond mining project. Our vision is to bridge the gap between the GCC and African region to capitalize on the natural resources sector and this is the first step towards our success”, said Mr Tohib.
He further added, “Our aim is to introduce new investment vehicles which can assist investors from the GCC to participate in the vast natural resources and mineral reserves in Africa. We have made it secure, flexible and transparent by introducing an investment proposition with an income guarantee backed by a bank. We are providing investors a platform to access the emerging market of diamond mining industry in West Africa through Citigate International Investment Trust. It is an industry which has a track record of exponential growth”.
The parent company of Citigate Commodities is Citigate International which has also launched the Citigate International Investment Trust domiciled in Hong Kong. The key strategic affiliates for the Safa Afrique project includes Noor Bank and SRK Exploration.
Mr.Tohib, stated, “Citigate Commodities Trading aims to boost diamond exports and trade for the Middle Eastern market by achieving a fully integrated operation, which is from exploration to export”.
“Safa Afrique is an initiative created to serve as a synergy the finance and natural resources sector for capital appreciation purposes and an opportunity to diversify from the distressed oil and gas industry. Our investment proposition provides diversification to the regular investment portfolios”.
The site of Safa Afrique is located in the most famous area of Koidu, which is home to the third largest diamond, the Star of Sierra Leone. The mining project is neighboring the largest diamond mine of West Africa which certainly provides a competitive edge to the project. Moreover, the initial exploration survey report by the world’s leading firm SRK Exploration has expressed their confidence in the project during their geological survey. Diamond mining is a growing industry which has achieved year on year growth. African region is famous for diamonds all over the world but it is perceived as a high risk business due to multiple legal and political factors.
Concluding the event, Mr. Tohib said “As part of our CSR initiative, we have already allocated a significant fund to refurbish the schools in the Kono District. We believe that an educated nation is an empowered nation”.
Citigate Commodities Trading is registered in DMCC with their head office in London, UK.
From left to right:
- Gary King – Non-Executive Chairman, Safa Afrique
- Casey Hetman – Principal Consultant SRK Exploration
- Cliff Fox – Co-Founder Citigate International
- Jay Adedayo – Chief Operating Officer, Citigate Commodities Trading
- Tohib Iyiola – CEO-Citigate International
- Andrew Whitmarsh – Director Citigate Commodities Trading
- Shafaat Hashmi – Vice President Brandbeat Advertising & Communications
- Raed AlKhars – CEO- International Investment Real Estate
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