Dolat Ventures Inc. announced the expansion of the diamonds operations at the Baimbawai Pool in the Sewa River along with the expansion into gold and other rare minerals.
Dovid Hauck, Chief Executive Officer, stated, “With the continued increase in rough diamond prices, we believe this is the time to expand our mining operations. Diamonds currently mined are sold in the rough conditions in which they are found. We sell these diamonds in Sierra Leone and around the world. Our current operations include 85 miners and two dredges.”
“Additional expansion includes mining for gold, tantalum and niobium. Initial drilling and exploration has indicated gold and tantalum and niobium on our properties. This said, we are taking an aggressive approach to further expanding our mining operations,” concluded Mr. Hauck. Tantalum and niobium are rare earth minerals used in an array of applications from cell phones to batteries.
About Dolat Ventures Inc.
Dolat Ventures Inc., through its wholly owned subsidiaries Dove Diamonds & Mining and Millennium Mining LLC, intends to mine, sell, market, cut and distribute its diamonds and gems around the world. The company intends to purchase rough and uncut diamonds and gems from international suppliers globally. Millennium Mining LLC incorporated in Sierra Leone as a Private Limited Liability Company on March 3, 2008 and commenced commercial operations after obtaining its license from the Ministry of Mineral Resources (Sierra Leone).
The company’s core operations are to mine extracted, refine, and purify precious metals and stones. The Company buys, sells, distributes and exports diamond bauxite, rutile, gold, silver and all other precious minerals in Sierra Leone and internationally. The company entered into a mining agreement to dredge mine land in the towns of Gandorhun and Njala in the Tikonko Chiefdom, Bo district of Sierra Leone. This area is known as the Baimbawai Pool of the Sewa River.
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Source: marketwire, January 13, 2011