Sierra Leone Parliament has approved a major mining agreement in Lithium mining in a bid to unlock billions in investment, generate thousands of jobs, and steer the nation toward fiscal independence.

The ratification, which took place on Friday, March 27, 2026, signals a decisive step in leveraging the country’s mineral wealth for long-term economic transformation.

The ratification is part of the Extractive Industries Fiscal Stabilisation Agreement for Large-Scale Mining between the Government of Sierra Leone and Leone Afric Metals (SL) Limited. Afric Metals is expected to start mining in Kalangba, Northern Sierra Leone early in 2027.

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Presenting the accord before Parliament, Minister of Finance Sheku Ahmed Fantamadi Bangura stressed its alignment with constitutional provisions and existing financial laws governing tax stabilisation, negotiations, and state benefits. He added that legislative approval was essential to formalise the framework.

Minister Bangura detailed the scope of the Kalangba lithium project, situated on 80.4 square kilometers of lithium-rich reserves in Ngowahun Chiefdom, Bombali District. Total investment is projected between $250 million and $309 million. Based on company projections, initial output is expected to reach two million tons of lithium ore annually, with mining operations spanning approximately 13 years and the broader project extending over a 25-year horizon. An exclusive license will be issued by the Ministry of Mines and Mineral Resources, paving the way for operations to commence in 2027.

furthermore, the Minister informed Parliament, is estimated at $200 million. The initiative is expected to generate over 1,000 direct jobs and deliver substantial revenue gains alongside broader socioeconomic benefits.

Opening the debate, Finance Committee Chairman Hon. Keikura C. Vandy of Bo District expressed confidence in the Minister’s stewardship, noting that the agreement’s provisions adhered to legal standards. He highlighted substantial employment opportunities for Sierra Leoneans, framing the project as a fulfillment of his earlier advocacy for job creation. The lawmaker further positioned the deal as a strategic move toward national financial independence, reducing reliance on foreign aid and easing pressure on foreign exchange rates. He described the agreement as uncontroversial and urged colleagues to endorse it.

Concluding deliberations, Acting Leader of Government Business Hon. Bashiru Silikie emphasized the necessity of local content provisions. He raised concerns that some mining investors establish subsidiary companies and engage foreign subcontractors to the detriment of indigenous firms. In a patriotic appeal, he urged the Minister to prioritise economic growth in such agreements, reminding him that stewardship of the state’s economy carries profound responsibility. Silikie further admonished his colleague to rectify shortcomings from past deals, ensuring that present and future large-scale agreements deliver maximum advantage to the nation.