Kingho Mining Hands Over Le 20Billion to Inhabitants of Tonkolili District Mining Commumities

President Julius Maada Bio has today 30th March 2023 e hand over the staggering amount of twenty Billion Leones (Le20,000,000,000) to the inhabitants of Dansogoia, Sambaia and Simiria Chiefdoms in the Tonkolili district as Community Development Agreement payment on behalf of Kingho Mining Company.

Last year, the company paid the sum of Le5,392,472,315 (Five Billion, three hundred and ninety-two thousand and three hundred and fifteen Leones) as CDA to the same host mining communities.

The payment was also done on behalf of the company by His Excellency President Brig. (Rtd) Julius Maada Bio on 24th May, 2022.

Kingho Mining Company is the first mining company to comply with the Mines and Minerals Act of 2009 (as amended) in Sierra Leone as far as the payment of 1% as CDA of the company’s annual revenue is concerned.

According to Global times Newspaper Today’s payment ceremony is expected to take place in Magburaka town, according to sources at NMA (National Minerals Agency).

The company is expected to also lay the cornerstone for the construction of their 12 Million Tons per annum processing plant for their Phase II Stage II expansion program.