Your trusted place for Sierra Leone and global news
HomeFeaturedHon. Chernor Bah lauds Koidu Holding’s expansion project

Hon. Chernor Bah lauds Koidu Holding’s expansion project

Hon. Chernor Bah lauds Koidu Holding’s expansion project

The Chairman of the Mines and Minerals Committee in Parliament Hon. Chernor Bah has lauded Koidu Holdings expansion project in Kono District for an increased foreign direct investment in the country.  (Photo:  Hon. Chernor Bah calling on
stakeholders to support Koidu Holdings expansion project)

He made this statement recently in Kono during the signing ceremony of crop compensation agreement with affected crop owners for Koidu Holdings expansion project.

He said the Koidu Holdings agreement with the government of Sierra Leone is one the best mining agreements ever signed in the country, which creates more job opportunities and community development geared towards improving the livelihood of the people.

He added that the crop compensation agreement signed with land owners in Tankoro paves the way for an increased incentive for affected crop owners and increased revenue generation for the government of Sierra Leone. 

Hon. Chernor Bah Chairman of the Mines and Minerals Committee in Parliament properly explained about the role of civil society groups pointing out that ‘they should be engaged for common goals and urged the people to think wisely about the development of Kono District.

He also cautioned against the use of violence and encouraged stakeholders to embark on education drive for the understanding and corporation of all, for the successful implementation of the expansion project of Koidu Holdings.

He went on to explain that it is a duty to undertake corporate social responsibility in mining communities and encouraged the company to always consult the people over their needs and interventions.

Hon. Chernor Bah added that the Koidu Holdings agreement is one of the best in the sub-region citing the US $100,000 support towards education and community development projects.

He said ‘we as Members of Parliament are closely working with Civil Society through dialogue so as to benefit from their expertise in a bid to move the forward.

Koidu Holdings representative Dino Courtinho said in January 2009 a crop compensation agreement was put in place according to the lease agreement and a road map for the future was developed after the lifting of the suspension on the Company.

He said it also resulted to the separation of surface rent payment and crop compensation and other activities according to scheduled time line.

He added that the company decided to develop the mines and also support resettlement programs in 2009 US $700,000 was paid as crop compensation, construction of houses and job creation.

He added that the long term expansion project of pit 1 and pit 2 which prepares for underground mining the company decided to put in place the 500 meters blast safety envelop for affected communities.

“We are going to continue our studies and to also seek professional advice on our operations.”

He added that Koidu Holdings will be constructing more houses and providing crop compensation the resettlement action plan will be ready at the end of November so as to take care of the people’s incentives and other issues after the election of a new executive of the property affected owners.

Individual crop compensation agreement will also be signed with affected crop owners costing the company (Le 2.6bn) over two and half billion Leones with an increment from 15 percent to 25 percent.

Paramount Chief Paul Saquee said the Koidu Holdings agreement is the best mining agreement ever negotiated in the country, citing support towards education and remittances of profits to be directly spent towards the development of the mining communities.

He went on to state that the mining agreement signed with the government of Sierra Leone took consideration of all the elements involved according to international standards.

Negotiations of mining agreement are underway and in Koidu Holdings only has 4.9 square kilometers while Tongo has opted to provide over 80 square kilometers.

He noted that four years from now Koidu Holdings will be making profits and the company will remit some of the profits back to the community.

PC Saquee  implored the support of the government towards the resettlement programme citing 52 affected property considered to be the marginalized around 250 people who illegally erected houses and the company provided Le150M for the affected families.

The Deputy Minister of Mines and Mineral Resources Ignosi Koroma while delivering the keynote address assured Koidu Holdings of government’s commitment and determination towards the successful implementation of the company’s expansion project.

Saidu Bah

Stay with Sierra Express Media, for your trusted place in news!

© 2011, https:. All rights reserved.

Share With:
Rate This Article
No Comments

Leave A Comment