By Nasratu Kargbo
The Director at the CEO’s Office, Leone Rock Metal Group, Salim Sillah says the company wants access to the railway and port in Tonkolili District.
Sillah during Committee hearing in parliament on the 26th January 2023 explained that the railway and port have played a significant part to the company’s growth, noting that if one has a huge deposit and wants to develop it, access to infrastructure is important.
“The rail and the port is a lifeline to our project” said the Director.
He explained that in the agreement with government, they had two years of exclusivity and six years of operational right, explaining that the government was supposed to give them notice after the exclusive period. Sillah further explained that they met the government and expressed their intention of investing fifty seven million dollars in order to speed up the expansion of the rail and port.
Presenting their portfolio to MPs, Sillah explained that they have an iron ore reserve of 11.9 billion tons, an iron ore resource at around 16.9 billion tons and a potential of 30 billion tons. He stated that this has placed the company as one of the largest iron ore resource holders in the world.
He stated that they have exported 5.86 million tons of the mineral, stating that when they took over in 2021 they did less than 1million tons, and that just in one year they were able to get an increase of three 300% in export. Cumulatively, he revealed that they have done 7.9 million tons.
He stated that their total investment in Kingho mining company is one hundred and fifty-four million dollars, whilst for Kingho railway and port they’ve invested four hundred and forty-one million dollars.
Giving background on the institution, Sillah stated that Leone Rock Metal Group was established in 2010 with the name Kingho Investment Company with four large scale mining licenses. He stated that they have six years operational management rights to the railway and port.
According to Sillah the company has five subsidiary companies, one operating at Tokolili iron ore mines, the Kingho Railway and Port, Northern Mining, CKH Mining and MAS energy mining.
Highlighting how beneficial the company is to Sierra Leoneans Sillah stated , “I can assure you that 98% of our entire total workforce bare Sierra Leoneans”. He said they have two hundred and twelve women in their workforce .
MP Sorieba A.Turay of constituency 051 heaped praises on the company for transforming the lives of people in his constituency.
He added that in two years the company paid two hundred million dollars, stating that another company wants to pay same amount for eleven years. “Let us continue with Leone Rock” said the MP.
Explaining the relevance of the mining sector, Chairman for the Mines Committee in Parliament Emerson Lamina explained that the mining sector has the potential to employ a minimum of three hundred thousand Sierra Leoneans.
Highlighting the statistical benefits of the sector, he explained that at least 70% of the country’s export comes from the sector, that used to contribute 24% to the GDP and that 15% of the nation’s overall budget comes from mining.
Copyright © 2023 Politico Online (30/01/23)
