Kingho Mining has been on the Right Path – Ambassador Hu

Ambassador of the People’s Republic of China to Sierra Leone, Hu Zhangliang has praised the leadership of Kingho Mining Company which operates the New Tonkolili Iron Ore Mines, saying that the company has been on the right path.

Mr Zhangliang made these remark  on Tuesday 24th May 2022 at a gathering Kingho’s mining  site at Ferengbeya, Tonkolili District, northern Province of Sierra Leone where His Excellency President Julius Maada Bio was the guest of honour to mark the official launching of the first payment of the Kingho Mining Company’s Community Development Agreement (CDA) Fund to the mining communities across its operational areas in the district.

According to mining related records, Kingho Mining Company is the first company in the history of mining in the Northern Province to pay 1% in annual revenue to its operational communities even before the provision becomes law. The money amounts to the sum of 5,392,472,315 (Five billion, three hundred and ninety-two million, four hundred and seventy-two thousand and three hundred and fifteen Leones).

 “CDA payment launching program not only indicates that Kingho Mining Company has been in the right trajectory of sound development in iron ore mining and export, but also demonstrates the firm commitment of Leone Rock Metal Group to comply with the laws and regulations of Sierra Leone and actively fulfill its social responsibilities,” Ambassador Hu  said.

In addition, the Chinese Ambassador to Sierra Leone said that he is pleased to see that Leone Rock Metal Group is committed to achieving mutual benefit and common development with Sierra Leone, and he is expecting that Leone Rock Metal Group will develop stronger and better through wise leadership and diligent input. “The strong support to the Leone Rock Metal Group by the Sierra Leonean government and people, the local communities and the business society is also highly appreciated,” he said.

On his side, Gilbert Zhao, CEO of Leone Rock Metal Group, parent company of Kingho Mining Company, said over the last ten (10) years of Leone Rock Metal Group’s existence in Sierra Leone, they have seen a lot of companies come and go. He said when Leone Rock Metal Group took over the Tonkolili iron ore mines, many said that the company will never be able to maintain and fix all the machineries on the mines, rail line and the Pepel port.  “But look how far we have gone. We did not only fix all, but we did at an amazing speed that surprises everyone,” he said. He added that the company was able to achieve all this fate because “we don’t make excuses over setbacks, but we perform to overcome the challenges.”

Whilst narrating the production target of Kingho Mining Company, Colin Ding, president of China Kingho Energy Company said that despite the fact that the company’s production target for 2022 is between 6-8 Million Tonnes, the company is also currently installing its tailings optimization plant which will help them produce and export +62% Iron concentrate. He said that the ambition is not a forecast but a plan being under implementation now for all to see.

Commending the Kingho Mining Company leadership for its dedication and feasible plans in the iron ore industry, President of the Republic of Sierra Leone, Rt Brig Julius Maada Bio said he is most pleased to work with Leone Rock Metal Group, who, in spite of the financial shocks of the global COVID-19 pandemic, have made this major investment in Sierra Leone.

Alluding to the remarks made by the China Kingho Energy head about the installation of a tailings optimization plant in the Tonkolili Iron Ore Mines, President Bio expressed optimism that “in the investment plan of Leone Rock Metals, we also see the future of mining operations in Sierra Leone. The Tonkolili deposit is relatively lower grade and, therefore, has not commanded a consistent value on global markets. Ore optimization and value-addition are therefore critical to my Government’s vision of the future of mining in this country.” He said that process will not only create more revenue for both the Government and investors but will also create high-value jobs in the mining sector.