Trustco’s Meya secures US$25m deal

Trustco’s mining subsidiary, Meya Mining Limited, has secured a US$25 million (N$400 million) financing facility with Ecobank Sierra Leone. 

The deal marks a significant milestone as Meya advances toward full commercial diamond production under its 25-year exclusive mining licence in Sierra Leone’s Kono District. According to Trustco, the funds will be deployed to acquire advanced diamond processing equipment, mining vehicles, and supporting infrastructure. 

Beyond capital expenditure, the facility is expected to stimulate local supply chains by routing payments through Sierra Leonean accounts. The project is set to create and sustain over 400 direct jobs—with more than 90% of the workforce sourced locally—while strengthening Sierra Leone’s position in the global industry through traceable, responsibly mined stones.

The transaction is also intended to encourage further investment in beneficiation, including cutting and polishing, to maximise national value capture. As previously disclosed, Trustco’s exposure to Meya comprises an indirect equity interest and a loan receivable of approximately US$46 million (N$920 million).

“Ecobank’s decision to commit US$25 million to Meya is a powerful external validation of the asset’s exceptional quality and multi-generational potential,” said Trustco Group Deputy CEO, Quinton Z. van Rooyen.

“For Trustco, as both an equity holder and significant creditor, this facility de-risks the path to commercial production and brings us closer to realising the full value of our investment. It signals to the broader market that serious institutional capital is now flowing into this project,” he added.

To date, Meya’s shareholders have invested in excess of US$100 million (N$1.6 billion) in the development of the resource and the initial establishment of the mine.