AML dismisses NMJD report as baseless
African Minerals SL Ltd. (AML) Freetown, 23 August, 2010. Our attention has been drawn to a seemingly self-seeking report by the Network Movement for Justice and Development (NMJD) titled “Dancing with the Chameleon – Mining Communities in Sierra Leone and the many faces of Frank Timis” – June 2010. (Photo: Mr. Frank Timis, Chairman, AML)
Our initial reaction was to dismiss the report as an anaemic example of the continuing campaign of vilification. The report is inimical of Government’s continued effort to attract foreign investors to Sierra Leone.
We take the greatest exception to the baseless contrast in paragraph 2, page 6 of the NMJD report: “Timis’ publicity around the discovery is the biggest iron ore find in 20 years, and the largest deposit in Africa, surpassing those in Liberia (where the far bigger and better-financed Acelor Mittal Steel is active) and Guinea (exploited by Australian giant Rio Tinto).”
The facts are there that Tonkolili is the largest ore deposit in Africa that is Joint Ore Reserves Committee (JORC) compliant. Liberia Mittal Ore deposit was a proven mine and was closed because of the war, so exploration was done years ago; Guinea’s Rio Tinto ore project stands at 2 billion tones and was proven close to 20 years ago and no work has been done until now.
The most unfortunate, baseless and malicious claim by NMJD is that: “Timis took the Minister of Mineral Resources, Alpha Kanu, on a trip to Romania, and quickly the Sierra Leone government back Timis.”
This statement is libelous, enviously frivolous, vexatious, malicious and a gross manifestation of factual absurdity. With letters dated 4th, 25th and 26th June and 5th September 2008, the GoSL gave the correct picture of the situation before and after the issue was resolved. It is a pity that the report is enviously subjective and shows a lack of understanding of the prospecting and exploration concepts in the case of geophysical air magnetic survey.
Meanwhile, it is even refreshing to learn that in a 2005-Diamond Industry Annual Review published by the very Network Movement for Justice and Development with help from Partnership Africa Canada lauded our effort.
The 2005 NMJD report is a testament that: “During 2004, SLDC completed a series of financings…”
“It is understood that the company is assisting the government to develop a modern geographic information system (GIS) in order to properly record historic and future geological data, for wider use in attracting additional foreign investment to the country. SLDC [now African Minerals] has also developed a philosophy of corporate social responsibility that is said to include various international, country and community development initiatives.”
African Minerals (SL) Ltd., Freetown
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joseph
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Dear SEM,
11th September 2010If NMJD assertion is flawed, why was Frank Timis described by the Telegraph of UKon the 13th of july, 2010 as a controversial resources investor? What was his role in the Regal petroleum that was handed the largest fine for misleading announcementduring his tenure such that he has to give up his role as chief executive of Regal in 2005? According to Bryan Frith of the Australian on april 8th 2010 stated that” The Australlian Securities Exchange’s coldshoulder of the controversial Romanian born entrepreneur Frank Timis means that he has now been declared persona non grata by three of the world’s leading stock exchanges”. Also in 2007 the Toronto Stock Exchange determined that Timis was unsuitable person to act as a director, officer or major share holder of a listed company.That apparently related to failure by Timis to declare two convictions for possession of heroin in the 1980s.Toronto also barred a ukrainian petrol company venture in which Frank Timis was involved.The list goes on and on. As a Sierra Leone is fighting very hard to rebrand it image in the international arena, we must look at Timis very closely and carefully not to dump us into a big mess.History is meant to guide people and help them shape their future.The unholy marriage between Frank Timis and Alpha Khan who have the gut to dump pilgrims in Abuja earning them the title Alhaji Abuja is worrisome.Our devoted President who meant well for our country should not be tainted by greedy and evil minds.
Joseph P.R.China