Sierra Leone’s Vice President, Hon. Dr Mohamed Juldeh Jalloh has said that he is impressed with the investment made so far by Kingho Mining Company which operates the New Tonkolili Iron Ore Mines in Ferengbeya, Tonkolili District, northern province of Sierra Leone.
The Hon. Vice President made these remarks on Saturday, June 11, 2022, during a conducted site tour at the company’s mining vicinity in Ferengbeya.
The Vice President was there on special invitation from the management of the Kingho Mining Company and was taken through to visit several sites of the company’s operations including the mining pit, the processing plant and the Train Load Out (TLO).
After his conducted tour, Vice President said that the investment made so far by the company perfectly resonates with the vision and aspirations of the government.
Explaining the progress made so far by government to revamp the mining sector of the country since been voted in 2018, Dr Jalloh “When we took over [office] our major aim was to make the mining sector attractive.” He said that they realised in order to make the sector attractive and boost investor’s confidence, they need to reform the existing mining regulations and laws to reflect the dynamics of modern societies.
Therefore, he said the government has presented in Parliament which will repeal the 2009 Mines and Minerals Act to make the country attractive for investment and to improve competition.
“In the next couple of years, this country will be the hub for exemplary mining. Our role is to support companies to get there,” VP Juldeh assured.
On the side of the company, Salim Sillah, Director in the Office of the CEO, Leone Rock Metal Group, said so far the company has invested over US$23 million in maintenance costs to restore the Tonkolili Iron ore Mines to a properly mining environment. He said this was not easily achieved as the company took over in 2020 during the peak of the global COVID 19 pandemic.
Sillah said the company’s vision is to transform the iron ore mining industry of Sierra Leone from ore exporter to iron producer through the installation of a smelting plant in the country. He said once that is achieved, the company will be able to boost several sectors in Sierra Leone including employment for Sierra Leoneans, tax and royalties to government and development of mining communities.
Sillah called on government to support the company, and assured of the company’s absolute compliance to the mining regulations and laws of Sierra Leone.
The Director was accompanied on the site visit with the Vice President by Mines Compliance Manager of Leone Rock Metal Group, Ing Samuel Kamara.