Diamonds' uncertain future
Get the full intelligence
Search transcripts, export clips, track mentions, and explore all topics from “Diamonds' uncertain future” inside PodZeus.
The future of diamond mining in Sierra Leone's Kono district hangs in the balance after a major industrial dispute shut down the country's largest diamond operation, Koidu Limited. Once a symbol of economic hope, the mine now lies idle, leaving thousands of workers and their families destitute. Former miners like Sharif Simbo describe a life of desperation—selling clothes in dusty courtyards, children pulled from school, and families surviving on petty trade. The conflict erupted over a controversial pay shift from U.S. dollars to Sierra Leonean leones, which, despite being pegged at 6.50, no longer reflects the currency's true value. Workers claim they’ve suffered a real-term pay cut, while the company denies any wrongdoing, calling the narrative 'fake' and insisting wages were above national minimums. The First Lady’s intervention and subsequent government silence have deepened distrust. With no resolution in sight, the CEO warns that no investor would risk entering a country where operations were once 'hijacked' and security remains unguaranteed. Yet amid the despair, a quiet hope persists: education. Schoolteacher Abubakar Amara argues that if diamonds have failed Sierra Leone, then education must not. As lab-grown diamonds from India and China threaten the traditional mining industry, the question looms: can a nation built on blood and stone now build its future on books instead?
Koidu Limited's shift from dollar to leone wages in 2016 caused a real-term pay cut as the leone's value plummeted from 6.50 to over 23 per dollar.
Over 1,000 workers were laid off after a mass strike, with no resolution in sight and a class-action lawsuit pending over unpaid wages.
The CEO of Koidu Limited says the government’s silence and lack of security guarantees have made restarting operations impossible.
Families now survive on odd jobs and petty trading, with children forced out of school due to unaffordable fees.
Schoolteacher Abubakar Amara argues that if diamonds have failed Sierra Leone, education must now be the nation’s only path out of poverty.
…and 3 more takeaways available in PodZeus
The Mine That Was
Ed Butler arrives in Kono, Sierra Leone, to explore the legacy of diamond mining and the current crisis following the closure of Koidu Limited, the country's largest diamond concession.
Blood Diamonds and Broken Promises
“Ah, it is a very sad memory. Kono was regarded as the breadbasket of stay alone. So when the war struck, Kono was very attractive and what we saw was very harrowing because when the rebels came, they shot at random, they killed people, burnt the entire town. All houses were mined. They dug stuck mines inside the houses as well?”
The Pay Dispute That Shattered the Mine
“If the dollar goes up, you'll see it on your pay slip. If it comes down, you'll see it again in your pay slip. But early 2016... It is fixed at 6.50. Now the dollar is not 6.50 in Sierra Leone. What is it now? It's something like 23, 23.5 leones.”
The Silence and the Strike
“We spent the last two weeks of this saga greatly concerned that this could escalate into a situation beyond our control. And many of the staff on the mine, both local and expat, were petrified. And we had never been in a situation that felt this threatening.”
Life After the Mine
Former miners and their families now survive on odd jobs, petty trade, and small businesses. Children are out of school, and hunger is a daily reality.
“If I don't get another job, the date that has been set, if we don't get the final say of our case in court, we do not get our benefiting, we will go on the rampage.”
“sad memory. Kono was regarded as the breadbasket of stay alone. because of its mineral wealth. So when the war struck, Kono was very attractive and what we saw was very harrowing because when the rebels came, they shot at random, they killed people, burnt the entire town. All houses were mined. They dug stuck mines inside the houses as well?”
“If the diamonds have failed us, the education cannot fail us. So education is one of the tools I think we can use to transform this community.”
Host
Guests
sierra leone
place
koidu limited
organization
ed butler
person
kono district
place
leone
other
us dollar
other
dag kramer
person
augustin shekho
person
suleiman mansari
person
sharif simbo
person
Afterlife: The business of celebrity legacies
Business Daily • 17m • 3/31/2026
Is this social media's 'Big Tobacco moment'?
Business Daily • 17m • 4/1/2026
The self-taught coder building a drone empire
Business Daily • 22m • 4/2/2026
Wind power: A lifeline or gamble for islands?
Business Daily • 17m • 4/5/2026
Headspace CEO on the use of AI in tackling burnout
Business Daily • 17m • 4/7/2026
Get the full intelligence
Search transcripts, export clips, track mentions, and explore all topics from “Diamonds' uncertain future” inside PodZeus.
Start discovering podcast insights today
Start with a 7-day trial and explore a growing catalog of popular podcasts. No credit card required.
No credit card required • 7-day trial • Cancel anytime
