On July 4, 2024, Minister of Mines and Mineral Resources, Julius Daniel Mattai, announced on Radio Democracy’s ‘Gud Morning Salone’ program that Sierra Leone exported $1.2 billion worth of minerals in 2023. This achievement marks a significant milestone for the country’s mining sector.
Mattai shared the journey of the mining sector, noting that in 2013, Sierra Leone exported about $1.4 billion worth of minerals. However, during the Ebola outbreak, this figure plummeted to $500 million. Thanks to the introduction of new mining policies, exports began to recover, reaching $310 million in 2020, $560 million in 2021, $900 million in 2022, and ultimately $1.2 billion in 2023. For 2024, the target is set at $1.5 billion.
The Minister provided a comprehensive update on the mining sector’s impact on the national economy, employment, and benefits for host communities. He highlighted the Extractive Industry Technical Assistance Project (EITAP), funded by the World Bank, which conducts geophysical surveys to enhance governance and build technical capacity within the Ministry of Mines and Mineral Resources and the National Minerals Agency (NMA). Currently, 28 large-scale mining licenses have been issued, but only 6-7 companies are actively producing. Additionally, 32 small-scale mining licenses have been granted. In the past year, gold exports reached 105,000 ounces, generating $12.5 million, while diamond exports totaled $105 million.
Mattai emphasized that the mining sector presents both challenges and opportunities. He stressed the importance of completing geophysical and electromagnetic surveys to fully understand the size, depth, and quantity of mineral deposits. The iron ore sector, particularly Marampa Mines and Kingho Mining, contributed 65% to exports, with Sierra Rutile contributing 8%, Kudu 20%, and small-scale mining accounting for the remainder. Notably, mining exports represented nearly 85% of Sierra Leone’s total exports.
The Minister also discussed the issuance of exploration licenses, explaining that these are crucial for discovering new mineral deposits. He pointed out that mining activities require substantial capital investment and entail significant risk before any returns can be realized.
The government is committed to ensuring transparency and stakeholder engagement to promote the sector’s sustainable growth. Mattai reaffirmed the Ministry’s dedication to managing mineral resources in accordance with the Mines and Minerals Act 2009, developing policies for systematic exploration, and maximizing the nation’s mineral wealth.
The Ministry continues to attract foreign investments and partnerships, implementing mining policies that promote sustainable practices and equitable revenue distribution.
