Post a comment
According to report, Leone Rock Metal Group, formerly known as Kingho Mining is accused to have been engaged in bribery related to its contracts.
The report by Newstime Africa allege that the company is being run like a mafia organisation spending millions of dollars to mining officials to secure mining deals.
“The company has exhibited a complete lack of transparency and a complete lack of accountability,” the news agency claimed.
The report said that the company has been doing their biddings without transparency to secure huge deposits of mineral wealth in the country.
It could be remembered that the company was awarded the contract to mine iron ore at the largest deposit in the country and sub-region in 2018.
However, analysts have questioned that decision based on the assumption that much revenue has not been accrued by government from the deal.
Recently, the government signed a contract with Arise IIP company for the expansion of Pepel Port and Railway, cancelling an initial deal signed with Kingho for the project. Newstime allege that the contract was cancelled because of the company’s inability to execute the project.
Sierra Leone has one of the largest deposits of iron ore in West Africa but the country, according to experts, has failed to benefit from it due to shady mining deals signed over the years.
Mining and political analysts believe that some of these companies only operate in smaller and less developed countries were they buy their way in the awarding of contracts and mining concessions.
Most Sierra Leoneans are still reeling from the deal signed by the previous government with African Minerals, a company believed to have been marred by corruption and shady dealings.
