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Mines Minister Generates Le523.2Bn from Mineral Exports

Timothy Musa Kabba, Minister of Mines and Mineral Resources

Minister of Mines and Mineral Resources, Timothy Musa Kabba has increased the Revenue generated from Mineral exports to Le. 523.2 Billion, according to the latest report.

 Since Minister Timothy Kabba was appointed by President Julius Maada Bio he has worked diligently to transform and reviews the Sierra Leone Mines and Mineral policy. In 2020/2021, the Minister of Mines and Mineral resources and the National Mineral Agency were able to settle the long dispute between the government of Sierra Leone and SL Mining in Marampa iron ore in lunsar, giving the government 10% of Free Carried interest and 20 million dollars instead of Small taxes that could have paid to the 707,000 Metric tonnes of iron ore that was stockpiled by SL Mining Company.

The Ministry Strategic Plan 2020-2025, provides the Strategic framework for the Agency, in full alignment with the strategic objectives and targets set in Sierra Leone’s Medium-term National Development plan 2019-2023 (SLMNDP) and the policy commitment outlined in the Sierra Leone Mineral Policy 2018.   

Since Minister Timothy Kabba was appointed he has transformed and revamped the mines and Mineral resources Ministry to generate huge revenue for the government and to benefit the host Communities and landowners.

Mining companies have contributed over Le 20 billion to implement development projects in their host communities from 2018-2019. Such project includes include a Multipurpose building and market centre in lower Banta Chiefdom-Moyamba District, three Schools in Gorama-Mende Chiefdom in Kenema district, also three(3) Schools in Kono district. 

From 2018 to 2020 Mining Companies paid Le37.4 billion as Surface rents to landowners across the country.

According to data from Statistics Sierra Leone(SSL), the Mineral Exports for 2019 by Mining Companies were USD 430 million, accounting for about 62% of total exports. In 2020, Mineral export was circa USD 313 million and accounted for 48% of total exports from Sierra Leone. In 2020 mineral export dropped slightly due to the Covid19 pandemic. 

The total amount paid to the Government of Sierra Leone, from Mining Companies, was USD56 million in 2018, USD61 million in 2019; and  USD 44 million in 2020, the reduction in revenue generation in 2019 and 2020 was mainly due to the Covid19 Pandemic. 

In 2021, the Minister of Mines and Mineral resources Timothy Kabba increased %100 revenue generate which records about Le. 523.3 billion the highest ever by the Ministry of Mines and Mineral resources.

In the area of employment by Mining Companies; the Total number of Sierra Leoneans employed by Mining companies in January 2018 was 8,552, and the total number of Sierra Leoneans employed by Mining companies in March 2021 is 13,500. With King Mining Company, Cheng Li Mining Company, Sierra Diamonds Limited, and Supreme Minerals Limited Mining Companies Currently recruiting, the number of employees has increased significantly in the short term. 

The employment of Sierra Leoneans by Small-Scale Mines is 2,000 employees; the employment of sierra Leoneans by Large-scale Mines and their Contractors in 2021 is 13,500 employees. 

In May 2019, the Ministry of Mines and Mineral resources with support from the Government of Sierra Leone introduced three New Policy documents; the Sierra Leone Mineral Policy, the Geo-data Management Policy, and the Artisanal Mining policy.

These Policies aim to attract private investments in exploration and Mining; emphasize the integration of the Mineral economy; establish a transparent fiscal regime that balances benefits with investments competitiveness; supports mineral beneficiation and Marketing, and guide investors toward the sustainable exploration of mineral resources in Sierra Leone.

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