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President Julius Maada Bio has launched a new 10-million-ton iron ore processing plant developed by Leone Rock Metal Group, also known as Kingho Mining Company.
The launch took place in Tonkolili, where the company has been operating since 2021.
This new plant is part of Leone Rock’s $1 billion investment in Sierra Leone, which has included various infrastructure developments, such as increasing processing capacity to 32 million tons.
Since commencing production in 2021, Leone Rock’s investment in the Tonkolili district has expanded significantly, yielding considerable effects on both the national economy and the lives of Sierra Leonean citizens.
The company’s activities have resulted in the direct employment of over 8,000 individuals, with approximately 90% of these positions filled by local workers across various fields. Furthermore, Leone Rock has established a significant energy infrastructure at its sites, totaling 150 MW, which includes 43 MW generated from solar power.
In terms of value addition, the company has developed a processing capacity of up to 32 million tons within the country. President Bio recently inaugurated a new 10 million ton processing plant, a move expected to increase Sierra Leone’s revenue from mineral exports.
Leone Rock has also contributed significantly to the national treasury through tax payments, with over US$10 million paid to the government in the last year alone. Additionally, due to what the government describes as progressive mining laws, the communities in Tonkolili have benefited from over US$6 million through a community development fund. These funds have been allocated to various essential projects, including the development of piped water systems, the construction of schools, and the improvement of agricultural practices.
Infrastructure development has also been a key aspect of Leone Rock’s investment. The company has upgraded the port at Pepel to achieve a 30 million metric ton annual export loading capacity. Moreover, it has invested in a 200km railway line connecting the mining site to the port.
Beyond infrastructure and economic contributions, Leone Rock has engaged in numerous corporate social responsibility initiatives, with one notable impact being its involvement in the Sierra Leone Premier League.
President Bio emphasized the significance of this private sector investment, stating that it demonstrates how good governance can shape a country’s progress. He also announced plans to explore a model for the construction of the road from Masiaka to Mabontor to Bumbuna to Bendugu.
During the launch, a cheque for NLe 62,214,818 was handed over as this year’s community development fund. President Bio reiterated his government’s commitment to transparency in the mining sector.
He stated, “It is essential that the communities affected by mining activities see the benefits and support they deserve. Together, we are working to ensure a more equitable future for all.”
The Chinese are milking our country dry and make little gestures, and we celebrate and over the roof.
Lack of wisdom with our leaders is sickening 😭💔
Maada Bio is a scammer, has nothing tangible to offer in Sierra Leone. His continuous looting of state resources go unabeted. He is doing this to attempt to attract investors for his illegal mining activities in the country. What have we done to God to deserve this punishment from this illegitimate President? A clueless man who flies each minute to steal the country’s resources. You’re a national disgrace, shame on you! If a DNA were to be done today on Maada Bio, the results would be clear to state that he’s NOT A SIERRA LEONEAN!
I’m baffled in all I read here, what does the good news mean to Sierra Leone and it’s people? Zero Zero, it’s seems like you cooked a good food and then sitting under the table to wait for the leftover. 😇😇😭😭😢 which is stupid to the first class project to accept. All that’s measured as development is for the benefit of Leone rock to explore our iron ore faster before the people’s eyes open. The electricity is for their site, The railway is for Sierra Leoneans travelling freely? Nop! Peppel port receiving another shipment rather than their own goods? Yep or nop ?what’s the development now? Stop clapping for the exploiter and start learning from Burkina Faso leadership and stopping them from carrying the minerals for free. Think and grow rich with your people, life is too short to waste on wrong ways. I have confirmation to say since 1961 to now there is no patriotic leader yet for Sierra Leone and it’s people. They are all foreigners and sell out.🤔😴🤫🤕. We are coming soon!