UK-based Stellar Diamonds has renewed its Droujba diamond exploration license in Guinea for another 2 years through 26 December 2014.
The West Africa-focused company is also awaiting the renewal of three other exploration licenses, covering 100km2 area adjacent to Droujba.
Comprising of the Droujba kimberlite pipe and a 5km long Katcha kimberlite dyke, the Droujba license hosts a deposit of 3 million carats of JORC compliant resource.
The license renewal follows extensive audits into all companies and permits by the government in Guinea.
Chief Executive Karl Smithson said, "There has been a large amount of publicity concerning the Government licence audit in Guinea and the cancellation of numerous non-active exploration and mining permits.
"On the basis of our previous and current work, our high standards of Government reporting, and the generation of a significant and growing diamond resource, which is now over three million carats, the Droujba licence are among some of the first to be renewed in Guinea post the audit."
The company reduced the license area to 7km2 following a renouncement of 14km2 of ground not considered to be prospective.