Sierra Leone
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Est 1835: Global mining investment and business insight September 2018 Supplement www.mining-journal.com Sierra Leone Promise to prospectivity 001a_Sierra_Leone_2018.indd 1 10/09/2018 15:32 September 2018 CONTENTS 2 Welcome to Sierra Leone Message 17 Commodities Vimetco Group managing editor Richard Roberts from the President: His Excellency rejuvenates bauxite assets: Head of Aspermont research Chris Cann President Brigadier (Rtd) Julius Maada E-mail: fi [email protected] Global aluminium producer looks at Editorial enquiries Tel: +44 (0)20 7216 6060 Bio local beneficiation options Fax: +44 (0)20 7216 6050 E-mail: [email protected] 3 Governance Sierra Leone’s new 18 Diamonds Building better Advertising production Sharon Evans direction: Minister of Mines and communities: Koidu works to E-mail: [email protected] Mineral Resources, Dr Morie Manyeh, enhance Sierra Leone and regional Advertising welcomes investors sustainable development goals E-mail: fi [email protected] Sales executive 4 Regulations Rethinking resource 20 Diamonds Newfield advances Noli Aventajado Tel: +44 (0)20 7216 6086 governance: National Minerals Tongo diamond development Executive business development manager Americas Yemi Onagoruwa Tel: +44 (0)77 881 96087 Agency Director General talks about plans: Project is regarded as Executive business development manager APAC new era for Sierra Leone minerals ‘generational asset’ with significant Wayne Heal Tel: +61 430 864 325 Sales director, global portfolio sector potential for further discoveries Andrew Porter Tel: +44 (0)20 7216 6085 Advertising manager 5 Exploration Country-wide survey 22 Iron ore Marampa rebuild Guy Davies Tel: +44 (0)207 216 6096 to start in October: Geophysics signals new era of co-operation: data to provide vital new insights into Subscriptions and circulation enquiries Vision for high-grade iron ore project Sales director: Roger Cooke Sierra Leone’s geological terranes has key technical, community Tel: +44 (0)20 7216 6064 E-mail: [email protected] 8 Exports Diamond, gold exports dimensions Senior global subscriptions manager: Emily Roberts Tel: +61 (0) 432 245 404 dip in 2017: Plenty of upside for two Email: [email protected] key Sierra Leone commodity exports For Mining Magazine subscriptions, please contact Tel: +44 (0)20 7216 6099 9 Legal Clamp down on illegal E-mail: [email protected] Published by Aspermont Media, WeWork Aldgate Tower, 2 mining: New focus on Leman Street, London, E1 8FA, UK. comprehensive regulation of mining, Printed by Stephens & George Magazines, Merthyr Tydfi l, UK. Registered as a newspaper at the Post Offi ce. environmental practices Subscription records are maintained at Aspermont Media 10 Exploration Promise to Ltd, 21 Southampton Row, London, WC1B 5HA Aspermont Media, publisher and owner of Mining Journal (‘the prospectivity: New initiatives set to publisher’) and each of its directors, offi cers, employees, advisers and agents and related entities do not make any warranty whatsoever as shine a stronger light on Sierra to the accuracy or reliability of any information, estimates, opinions, conclusions or recommendations contained in this publication and, to Leone’s mineral prospectivity the maximum extent permitted by law, the publisher disclaims all liability COMPANY PROFILE and responsibility for any direct or indirect loss or damage which may be 14 Governance Rules engender suff ered by any person or entity through relying on anything contained in, or omitted from, this publication whether as a result of negligence on the certainty around small-scale and 6 Sierra Rutile part of the publisher or not. Reliance should not be placed on the contents of this magazine in making a commercial or other decision and all persons artisanal mining: Government Storied past, future potential: are advised to seek independent professional advice in this regard. World’s largest natural rutile deposit policies aimed at ensuring adequate © Aspermont Media 2018 regulation of key sector supports long-term production plan Media ISSN 0026-5225 Key contacts Ministry of Mines and Mineral Resources National Minerals Agency Headquarters 5th Floor, Youyi Building New England Ville, Freetown, Sierra Leone Brookfields Tel: +232 79 250702 Freetown, Sierra Leone Email: [email protected] Web: www.nma.gov.sl/home Minister of Mines and Mineral Resources Director of Finance and Administration Dr. Morie Komba Manyeh Director General John Kapr Fornah Tel: +232 76 604811 Sahr Wonday Tel: +232 79 251242 Email: [email protected] Tel: + 232 76 601299 Email: [email protected] Email: [email protected] Deputy Minister of Mines and Mineral Director of Community Affairs, Resources Director of Mines Communication and Public Relations Evelyn Daphne Blackie Peter Kapr Bangura Ibrahim Satti Kamara Tel: +232 78 335454 Tel: + 232 79 252454 Tel: +232 79 252446 Email: [email protected] Email: [email protected] E mail: [email protected] Permanent Secretary Director of Geological Survey Acting Director of Precious Minerals Trading Fatmata S. Mustapha Prince Cuffey Samuel Koroma Tel: +232 76 601492 Tel: +232 79 999980 Tel: +232 76 675986 Email: [email protected] Email: [email protected] Email: [email protected] Supplement edited in London and Perth based on material supplied by JIC Media (www.jic-media.co.uk) Special thanks to Sahr Wonday, Victoria Nicol, Prince Cuffey; Dr Kelvin Anderson, Val Collier, Alie Toronka Mining Journal • mining-journal.com • September 2018 1 01_Sierra_Leone_2018.indd 1 26/09/2018 13:59 SIERRA LEONE Message from the President His Excellency President Brigadier (Rtd) Julius Maada Bio welcomes investors to the country On behalf of my Government and the people that is under siege and in a continent of Sierra Leone, I am pleased to inform the renowned for its unpredictability. An international mining community that Sierra environment where international investors Leone is ready for business. can be confident that they will have the The minerals sector remains critically support of Government to navigate the important to our country, contributing pitfalls and take advantage of opportunities between 20-25% of GDP. Our for creativity and innovation. country is richly endowed with “We have We are reviewing our mineral resources such as iron shifted our mining policies and laws to ore, gold, diamond, bauxite, establish a comprehensive rutile, ilmenite, zircon, thinking governance framework for the chromite and columbite – towards mining sector to ensure a win- guarantee meaningful revenue for govern- tantalite (coltan). The presence win situation for the ment. We recently enacted the Extractive In- of these deposits represents looking at government, mining dustries Revenue Act, 2018 to consolidate the major opportunities for all policy companies and local fiscal requirements of our investors and ease potential investors and the communities. This framework the burden of keeping up with financial obli- country to derive optimal initiatives with will position our institutions, gations. benefits from the extracting, a dual lens” the laws, the regulations, the These reforms will address the many processing and exporting of fiscal regime and practices governance challenges of the past, these minerals. governing the operations of the mining and create a favourable, stable and To realise these opportunities, my sector to guarantee good returns on predictable investment climate. By clearly Government has committed itself to create investments and benefits to our people. defining procedures and streamlining the right environment to convince investors Our tax regime is internationally competi- processes, we shall reduce the risks to take that great leap to invest in a sector tive to ensure fair return on investment and associated with wide discretionary powers and corruption. We are essentially reducing the regulatory and political risk uncertainties long associated with African mining investments. We have shifted our thinking towards looking at all policy initiatives with a dual lens: seeing it from both the perspective of the Government and the perspective of the investor. We have also taken steps to improve energy access and develop our infrastructure. We are building and expanding our bridges and road networks; and continue to improve on electricity, water supply and communication systems. I take this opportunity to extend an open invitation to Investors to come to Sierra Leone and get the unique experience of doing business in a friendly and stress-free environment. 2 September 2018 • mining-journal.com • Mining Journal 02_Sierra_Leone_2018.indd 2 10/09/2018 15:36 SIERRA LEONE Sierra Leone’s new direction Minister of Mines and Mineral Resources, Dr Morie Manyeh, welcomes investors I am pleased to use the medium to inform and quantity of our diamonds. We have a global audience that a wind of change more than 20,000sq.km of diamond fields in is blowing across Sierra Leone, and it is the eastern, southern and northern regions blowing the country and its people of the country. towards a New Direction: The Right The largest diamond found in Sierra Leone Direction. was a 970-carat diamond dubbed the ‘Star of Under this New Direction, we intend to Sierra Leone’, and this is, to date, the third- pursue policies and programmes aimed largest diamond ever found. at making Sierra Leone an even more Four of the 20-largest diamonds in the attractive destination for mining world are from Sierra Leone. Just under a investment. year ago, a local artisanal miner found a 709- We are committed to transforming the carat diamond in Eastern Sierra Leone, which minerals sector to guarantee good returns now stands as the 13th largest diamond in on investment, while at the same time the world. Sierra Leone exported more than ensuring that our people derive maximum 4 million carats of diamonds between 2010 benefits from our mineral wealth. and 2017. Sierra Leone has a long history of mining, We currently have large-scale mining starting with diamond mining in the 1930s operations for iron ore, rutile and and gold mining before that.