1. INVESTING IN SIERRA LEONE Mineral Resources
Julius Mattai, Director General, National Minerals Agency
June 2019
UK – SL Trade and Investment Conference

2. Sierra Leone’s known mineral resources
Rutile
Ilmenite
Bauxite
Iron Ore
Gold
Diamond
Zircon
Columbite-Tantalite (coltan)

3. Nationwide Airborne Geophysical Survey of Sierra Leone
World Bank’s Extractive Industry Technical Assistance Project Phase 2 (EITAP 2) has provided budgetary support to carry out a Nationwide Airborne Geophysical Survey to enhance general knowledge of Sierra Leone’s mineral potential
Nationwide Airborne Aeromagnetic & Radiometric Surveys. Followed by Airborne Electromagnetic
Line Spacing: 150 meters; Tie line spacing: 1, meters; Terrain Clearance: 50 meters (agl); Minimum line length: 3 kilometres
Time frame: Started in January Break on June Restart in October Completion in May 2020
Survey flown by Xcalibur Airborne Geophysics
Data Quality Control by Reid Geophysics
One of the best nationwide geophysical surveys in the World
Completed: 75%

4. Sierra Leone’s potential mineral resources
Base Metals & Elements
Chromite
Platinum
Nickel
Manganese
Dimension Stone
Granite
Gravel
Semi-precious Stones
Molybdenum
Tin
Copper
Lead
Graphite
Lignite

5. Nature of mining investments
Mining is capital intensive, high-risk and long-lived business, with significant investment in exploration and development, mostly sourced from the private sector
Why has Sierra Leone's mining potential not been fulfilled in the past?
Investor
 Commodity price volatility, underdeveloped infrastructure, power supply constraints, lack of local development, political instability and an investment climate perceived as very weak
“Fly-By-Night” Investors

6. Mineral rights – Licensing and administration
Reconnaissance Licences = 0
Exploration Licences = 62
Small-scale Mining Licences = 2
Cancellations of Licences:
41 (July 2018)
25 (April 2019)
Large-scale Mining Licences = 12
Artisanal Mining Licences = 1,170
Web-based Mining Cadastre Administration System (MCAS) provides information on license holders, coordinates, application dates, duration of licence and fiscal information

7. Status of Mining Companies in Sierra Leone
Tonkolili Iron Ore
Iron Ore
Southern Mining
CKH Mining
Mass Energy
Northern Mining
Boroma Ltd
Diamond
Nimini Mining
Gold
Sula North
Gold/Iron-Ore
Marampa Iron Ore
Iron Ore
SL Mining
Iron Ore
Algom Resources
Gold
Sierra Diamonds
Diamond
MEYA
Sierramin Bauxite
Koidu Ltd
Diamond
Sierra Minerals Holding Ltd
Bauxite
Sierra Rutile/Iluka Resources
Rutile
Dayu Mining Ltd

8. Total mineral exports in 2018
Artisanal Diamonds
Iron Ore
Rutile
$ 65,429,984
181,507 carats
Revenues: $ 2.1 Million
$ 91,427,007
559,627 carats
R: $12.4 Million
$ 5,242,205
135 kg
R: $ 595,960
$ 13,149,241
968,585 tonnes
R: $ 9.4 Million
$ 64,060,326 1,822,123 tonnes
R: $ 7.6 Million
$ 99,997,508
130,751 tonnes
R: $18.6 Million
$ 4,425,097.95
423 tonnes
R: $ 130,000
Industrial Diamonds
Bauxite
Coltan
Gold

9. Contribution of the mineral sector to the economy
The minerals sector has been the backbone of Sierra Leone’s economy since 1930’s
2013
2014
2015
2016
2017
2018
Contribution of Mining Revenue to Total National Revenue Authority (NRA) Revenue
(billions of Leones)
440
386
345
315
239
445
Mining Revenue as % of Total NRA Revenue
Source: NRA
Mining Sector as % of GDP
Source: Statistics SL
21%
18%
18%
11%
10%
10%
24.5%
23%
27.3%
4.2% 6% 5%
4.3%

10. Roadmap for improving investment in the mining sector
To identify low-cost/low-hurdle actions to be implemented by the Ministry of Mines & Mineral Resources, National Minerals Agency, the mining industry and other stakeholders that can start to build the mining revival and create a positive narrative to drive increased investment
To enhance inputs, processes, outputs, outcomes, impacts and their linkages with the objectives of Sierra Leone’s Medium-term National Development Plan ( ) for diversification from mining
Wealth Creation
Broad-based Sustainable Development
Improving enforcement of
existing laws and regulations
Improving policy implementation
Roadmap to be implemented through the Extractive Value Chain
Summary:
Sierra Leone is a small , peaceful and democractic West African country
Rich in natural resources and welcomes foreign investment
Award of Contracts and Licenses
Regulation and Monitoring of Operations
Collection of Taxes and Royalties
Revenue Distribution and Management
Implementation of Sustainable Development Policies and Projects
Export

11. Improving legal & regulatory frameworks
Mines and Minerals Act 2009
Established the
Minerals Advisory Board (MAB)
National Minerals Agency (NMA) Act 2012
Established the
NMA Board
Mines and Minerals Operational Regulations 2013

12. THANK YOU FOR YOUR ATTENTION
“On this 58th anniversary of our independence, I want us to each reflect deeply and ask ourselves as individuals and collectively as a nation what we have done to make our country a land worth living in “
HE President Julius Bio
27 April 2019
THANK YOU FOR YOUR ATTENTION