Local Communities: Stakeholders in new Mines Act
Minister of Mineral Resources Hon. Alpha Kanu is pleased that his ministry has set the legal frame work on the Mines Act that work in the interest of government and investors alike adding that the Act is now very much in favor of local land owners which was not the case before this time he said in Freetown. (Photo: Alpha Kanu)
He noted that, previously investors just obtained a license from the government and went into the thick of the forest and started mining without entering into any agreement with the custodians – the tribal heads and local authority. The new Mines Act according to him compels investors to enter into two serious agreements before undertaking any mining venture and such should be done in consonance with the tribal heads as they too are fundamental stakeholders.
He made this statement at the weekly press briefing at the information ministry Youyi building remarking that mining in Sierra Leone for the past 70 years has very little to show for because of the deficiencies in the previous mines act, the current mining act according to him requires an environmental impact assessment above the artisan mining and the provision of mining fund put aside before a license is issued to investors.
The community development fund he said is the agreement between tribal heads and investors wherein the company gives one percent of its gross income annually to the community development.
He informed the media in Freetown that London mining company has put aside funds to restart the Marampa Iron Ore Mine. London mining he said aims at developing the mines sector to become mid-tier supplier to the global steel industry engaged in global iron ore operations with an experienced management team with a proven delivery record underpinned by strong balance sheet in the mines sector.
Iron ore is among Sierra Leone’s greatest mineral deposits and the London Mining company mining from its concession in Marampa chiefdom is presently working on the exportation ofÂ iron ore tailings within 12-18 months andÂ phase oneÂ of the project is estimated at 1million United States dollar.
Rachel Phodes chief financial officer London PLC stated that 2009 has been a critical year for London mining and a successful year for Sierra Leone. She reaffirms London mining company Sierra Leone commitment to develop the Marampa mining above it ancient glory.
David Keili Managing Director London mining company SL stated that his company will provide 600 jobs direct both skilled and unskilled which will be the best paying jobs in the country.
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