By Mohamed Jaward Nyallay
The Government of Sierra Leone has taken over the assets of Tonkolili Iron Ore Limited (TIO), a subsidiary of Chinese miner, Shandong Iron and Steel. The takeover comes after the government invoked Section 50 of the 2009 Mines and Minerals Act after the company failed to meet its tenancy agreement.
The takeover ends a five year stint of the Chinese miner since they took over the mines from the defunct African Minerals Limited (AML). Shandong took over from AML in 2015 after acquiring their 75% share for US$117million.