Gem brings Guinean miner riches

Guinea has exported $30m worth of diamonds this year

A young miner in the West African state of Guinea who found a huge diamond and handed it over to the government will receive half its value.

The near-flawless 182-carat gem, the size of a computer mouse, is being described as a jewel among jewels.

It was discovered by a 20-year-old miner in the diamond-rich Banankoro region, south-east of the capital Conakry.

The find comes just six months after the government decided to liberalise the mining sector.

The stone has not yet been officially priced, but a 450-carat gem found in 1994 sold at the market value of $10m.

Sekou Mady Traore, an adviser to the mines industry, said that if the miner, Mohamed Kalo, had sold his diamond on the open market he would have paid royalties to the government worth 3% of the diamond's value.

Instead "the miner gets half the proceeds and the rest will go to the central bank," said Mines Minister Alpha Mady Soumah.

Bauxite is Guinea's principal mining export, but diamonds are becoming increasingly important to the economy

Mr Traore said $30m worth of diamonds had already been exported in the first six months of this year.