Sierra Leone Selection Trust

The Sierra Leone Selection Trust was formed in 1934 following an agreement between the government of British Sierra Leone and the Consolidated African Selection Trust Ltd (CAST). CAST was formed in 1924 and was part of a much larger mining finance house Selection Trust Ltd which had been founded in 1913 by Alfred Chester Beatty (an American mining magnate). Although the Oppenheimers (De Beers) invested in CAST and its subsidiaries from the 1920s and had boardroom representation, CAST was independent of the Oppenheimer empire. SLST corporation which had exclusive mineral mining rights in Sierra Leone beginning in 1935 was scheduled to last for 99 years. In 1955, the SLST abandoned mineral mining and settled on mining the Yengema and Tongo Fields. However, with the creation of the Sierra Leonean parastatal National Diamond Mining Company in 1971, the diamond company was effectively nationalized, ending the SLST in Sierra Leone.

Sources
  • Peter Greenhlagh - West African Diamonds - An economic history 1919-83. ISBN 0-7190-1763-7
  • The Heart of the Matter: Sierra Leone, Diamonds & Human Security
gollark: No.
gollark: The main danger with that in the UK is that you might blow the fuse on one of the outlets.
gollark: I could probably bodge together a simple P2Pish chat application without much trouble, but it wouldn't be very secure.
gollark: What would be cool is Discord but federated and partly end to end encrypted.
gollark: If they keep updating the UI I'll be forced to access Discord through IRC.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.