Namibian businessman Quinton van Rooyen’s investment holding company, Trustco Group, has revealed plans for a substantial $75-million co-investment in its resources portfolio, targeting Meya Mining.
This transaction allows Trustco shareholders to realize substantial value from their early-stage investment and positions Trustco to deliver exceptional returns to its investors.
Under the new agreement, Sterling Global Trading will invest $50 million, with $25 million in equity for a 70-percent stake and an additional $25 million loan. The remaining $25-million loan will come from external sources.
Meya Mining, a Trustco subsidiary led by van Rooyen, currently holds an extensive mining license covering 129 square kilometers in Sierra Leone’s diamond-rich eastern fields. The $75-million co-investment will fully finance the mine’s production ramp-up, aligning with Trustco’s investment strategy.Â
Trustco, a diversified investment holding company overseen by van Rooyen, focuses on high-quality assets in financial services and resources for sustainable, long-term growth.
Meya Mining, conceptualized in 2016, now generates more than 400 jobs and contributes to local communities. It aims to achieve an annual production target of 1 million carats from a resource potential of seven million carats over 15 years.
The new capital will enable critical improvements, including commissioning a state-of-the-art NIR waste sorter, expanding plant capacity, and expediting underground development.
As of December 2021, Trustco Resources (a TrustCo Group subsidiary) owned 65 percent of Meya Mining, with Germinate SL Limited holding 35 percent. Upon the conclusion of the transaction, Sterling Global Trading will own 70 percent, while Trustco and Germinate SL will maintain 19.5- and 10.5-percent stakes, respectively.
The $75-million co-investment aims to strengthen Meya Mining’s position in the diamond mining sector and reinforces Trustco Group’s commitment to sustainable growth and strategic resource investments.
