Post a comment 
Leone Rock Metal Group has officially opened the second phase of its magnetite processing plant in Ferengbaia, Sierra Leone, while simultaneously releasing over NLe 99 million in community development funds to local residents.
The dual event marks a major expansion of the region’s iron ore sector and highlights ongoing efforts to share mining profits directly with host communities.
The newly commissioned facility is the second phase of Leone Rock’s massive 30 million tonnes per annum (MTPA) processing strategy. Specifically, this new 10 MTPA addition is designed to significantly boost the company’s iron ore processing capacity.
By upgrading the ore locally before it is exported, the company aims to increase national export earnings and keep more industrial value within Sierra Leone. Leone Rock’s integrated mining, rail, and port operations currently employ more than 8,000 Sierra Leoneans.
Alongside the industrial expansion, Leone Rock disbursed its fifth Community Development Agreement (CDA) payment. The fund, totaling NLe 99,045,404, is designated for mining-affected communities to finance local projects.
Local leaders welcomed the payout, emphasizing that the CDA framework is a vital tool for sharing the region’s mineral wealth. They also echoed the need for transparency and fair distribution among chiefdoms to ensure the money directly improves lives.
Minister of Mines and Mineral Resources Julius Daniel Mattai attended the ceremony, praising the expansion as a decisive step toward in-country industrial growth under President Julius Maada Bio’s administration.
Minister Mattai noted that prior to this latest payout, CDA contributions under the Mines and Minerals Development Act 2023 had already reached NLe 141 million. He urged local councils and community leaders to use the new funds strategically and transparently on critical needs such as healthcare, education, and water supply.
Previous CDA funds have already financed several major local projects, including: A health center and staff quarters in Nerekoro, a multipurpose hall in Bumbuna, a hotel and multipurpose facility in Bendugu, a solar energy and water system investments and University scholarships for more than 360 local students
Government officials present at the commissioning commended Leone Rock for following regulatory frameworks and investing heavily in the Tonkolili District’s long-term economic development.
