Energem Resources

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Energem Resources, formerly known as DiamondWorks was an African-focused mining and energy company that declared bankruptcy in February 2011.[1]

Bankruptcy

According to the Telegraph newspaper:

Energem Resources was put into administration after it could not recover $54m (£33m) owed by companies linked to its deputy executive chairman Tony Teixeira.
The company had already come under scrutiny in 2008 for buying a corporate jet for $8m (£5m) from a business controlled by Mr Teixeira and Brian Menell, Energem's executive chairman. It justified the purchase by arguing the jet was a "key strategic asset" needed to ferry its management to "any location in Africa on short notice". [2]


Blood diamond connections

According to the Telegraph newspaper:

The company, formerly known as DiamondWorks, was once involved in the "blood diamonds" mining industry, where illegally traded gems were used to finance African civil wars in the 1990s.
However, it relaunched as a "green" African biofuels business - called Energem Resources - when it listed on London's Alternative Investment Market (AIM) in 2007. It claimed to have severed links with its past management. [3]

History

Energem is descended from Branch Energy which was acquired by Carson Gold Corp. of Canada in October 1996. Carson Gold simultaneously changed its name to DiamondWorks Ltd.[4] which changed it's name again to Energem Resources in 2004.[5]

Website

www.energem.com

People

Directors in 2007

Officers in 2007

Notes

  1. The Telegraph newspaper. Rowena Mason Energem goes into bankruptcy without telling shareholders 21 Feb 2011. Accessed 21/02/2012
  2. The Telegraph newspaper. Rowena Mason Energem goes into bankruptcy without telling shareholders 21 Feb 2011. Accessed 21/02/2012
  3. The Telegraph newspaper. Rowena Mason Energem goes into bankruptcy without telling shareholders 21 Feb 2011. Accessed 21/02/2012
  4. The Mineral Industry of Sierra Leone, by Philip M. Mobbs, accessed 11 April 2008.
  5. Energy firm link to blood diamonds, by Ben Laurance, Sunday Times, 30 December 2007.