Leone Asset Management to acquire second granite quarry in Sierra Leone

| Published on February 20, 2014

Screen-Shot-2014-01-15-at-5.07.50-PMLeone Asset Management announced Wednesday that it has signed a memorandum of understanding (MOU) to acquire the lease, managerial and operational control of second granite quarry in Sierra Leone.

The company announced in January that it had signed an MOU for managerial and operational control of an operating 89.4-acre granite quarry in the country.

Leone Asset President Tony Khodadad said the new location has about 400 acres of granite.

He added that the agreement gives the company a 25-year lease with an option to renew for another 25 years at the end of the term, as well as 80 percent of the profits generated from the quarry.

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