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The President of Sierra Leone, Dr. Julius Maada Bio, has on the 15th April, 2025 inspected the distribution of over Sixty-Two Million New Leones (NLe62,214,818.88), or approximately USD 2.75 million, to the primary host communities within the authorized areas of Leone Rock Metal Group in Tonkolili District.
The payout, representing 1% of the annual gross revenue of Leone Rock Metal Group (LRMG), was made in accordance with the Community Development Agreement (CDA), a legal framework designed to ensure that local communities benefit from resource extraction.
During the ceremony, President Bio praised the initiative, emphasizing the importance of transparency and the need for local communities to reap direct benefits from the mining activities occurring in their areas. “This is a proud moment for our nation and particularly for the people of Tonkolili,” he stated, asserting that, “today’s event is a testament to our policy direction, that communities must not be bystanders but active beneficiaries of the wealth beneath their soil.”
In conjunction with the financial disbursement, the event also marked the groundbreaking of a new Magnetite Processing Plant, which is projected to cost $230 million. Once operational, according to a report by the LRMG, the facility will be able to process 12 million metric tonnes per annum (MTPA) of magnetite. This initiative is confirmed to have formed part of LRMG’s Phase II expansion program aimed at enhancing Sierra Leone’s iron ore processing capabilities and increasing the value of the country’s mineral exports.
The groundbreaking ceremony attracted a host of dignitaries, including senior government officials, LRMG executives, traditional authorities, and community leaders, all underscoring a shared commitment to fostering sustainable development and economic empowerment through responsible mining practices.
LRMG’s commitment to the CDA model is viewed as a progressive step towards ensuring that mining operations in Sierra Leone are conducted with social accountability and community engagement at the forefront. As Sierra Leone continues to develop its mineral resources, the alignment of community interests with corporate responsibility is deemed stand-out as a vital approach toward creating a more equitable and inclusive mining economy.
