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INVESTING IN SIERRA LEONE Mineral Resources

INVESTING IN SIERRA LEONE Mineral Resources. Julius Mattai, Director General, National Minerals Agency June 2019 UK – SL Trade and Investment Conference. Sierra Leone’s known mineral resources. Rutile. Ilmenite. Bauxite. Iron Ore. Gold. Diamond. Zircon. Columbite -Tantalite ( coltan ).

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INVESTING IN SIERRA LEONE Mineral Resources

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  1. INVESTING IN SIERRA LEONEMineral Resources Julius Mattai, Director General, National Minerals Agency June 2019 UK – SL Trade and Investment Conference

  2. Sierra Leone’s known mineral resources Rutile Ilmenite Bauxite Iron Ore Gold Diamond Zircon Columbite-Tantalite (coltan)

  3. Nationwide Airborne Geophysical Survey of Sierra Leone World Bank’s Extractive Industry Technical Assistance Project Phase 2 (EITAP 2) has provided budgetary support to carry out a Nationwide Airborne Geophysical Survey to enhance general knowledge of Sierra Leone’s mineral potential • Nationwide Airborne Aeromagnetic & Radiometric Surveys. Followed by Airborne Electromagnetic • Line Spacing: 150 meters; Tie line spacing: 1, 500 meters; Terrain Clearance: 50 meters (agl); Minimum line length: 3 kilometres • Time frame: Started in January 2019. Break on June 2019. Restart in October 2019. Completion in May 2020 • Survey flown by Xcalibur Airborne Geophysics • Data Quality Control by Reid Geophysics • One of the best nationwide geophysical surveys in the World Completed: 75%

  4. Sierra Leone’s potential mineral resources Base Metals & Elements Dimension Stone Manganese Chromite Platinum Nickel Granite Lignite Graphite Gravel Semi-precious Stones Molybdenum Tin Copper Lead

  5. Nature of mining investments Mining is capital intensive, high-risk and long-lived business, with significant investment in exploration and development, mostly sourced from the private sector Why has Sierra Leone's mining potential not been fulfilled in the past?  Commodity price volatility, underdeveloped infrastructure, power supply constraints, lack of local development, political instability and an investment climate perceived as very weak Investor “Fly-By-Night” Investors

  6. Mineral rights – Licensing and administration Reconnaissance Licences = 0 ExplorationLicences = 62 Small-scale Mining Licences =2 Cancellations of Licences: 41 (July 2018) 25 (April 2019) Artisanal Mining Licences = 1,170 Large-scale Mining Licences = 12 Web-based Mining Cadastre Administration System (MCAS) provides information on license holders, coordinates, application dates, duration of licence and fiscal information

  7. Status of Mining Companies in Sierra Leone Marampa Iron Ore Iron Ore Tonkolili Iron Ore Iron Ore SL Mining Iron Ore Northern Mining Iron Ore Sula North Gold/Iron-Ore Sierramin Bauxite Sierra Rutile/Iluka Resources Rutile CKH Mining Iron Ore Boroma Ltd Diamond Southern Mining Iron Ore Koidu Ltd Diamond Mass Energy Iron Ore Dayu Mining Ltd Sierra Minerals Holding Ltd Bauxite MEYA Diamond Nimini Mining Gold Algom Resources Gold Sierra Diamonds Diamond

  8. Total mineral exports in 2018 Artisanal Diamonds Rutile $ 65,429,984 181,507 carats Revenues: $ 2.1 Million Iron Ore $ 99,997,508 130,751 tonnes R: $18.6 Million $ 13,149,241 968,585 tonnes R: $ 9.4 Million Industrial Diamonds $ 91,427,007 559,627 carats R: $12.4 Million Coltan Bauxite Gold $ 64,060,326 1,822,123 tonnes R: $ 7.6 Million $ 4,425,097.95 423 tonnes R: $ 130,000 $ 5,242,205 135 kg R: $ 595,960

  9. Contribution of the mineral sector to the economy The minerals sector has been the backbone of Sierra Leone’s economy since 1930’s 6% 5% 4.2% 4.3% 18% 18% 23% 24.5% 27.3% 11% 10% 10% 21%

  10. Roadmap for improving investment in the mining sector To identify low-cost/low-hurdle actions to be implemented by the Ministry of Mines & Mineral Resources, National Minerals Agency, the mining industry and other stakeholders that can start to build the mining revival and create a positive narrative to drive increased investment Wealth Creation To enhance inputs, processes, outputs, outcomes, impacts and their linkages with the objectives of Sierra Leone’s Medium-term National Development Plan (2013-2019) for diversification from mining Broad-basedSustainable Development Improving enforcement of existing laws and regulations Improving policy implementation Roadmap to be implemented through the Extractive Value Chain Export Award of Contracts and Licenses Collection of Taxes and Royalties Revenue Distribution and Management Implementation of Sustainable Development Policies and Projects Regulation and Monitoring of Operations

  11. Improving legal & regulatory frameworks National Minerals Agency (NMA) Act 2012 Established the NMA Board Mines and Minerals Act 2009 Established the Minerals Advisory Board (MAB) Mines and Minerals Operational Regulations 2013

  12. THANK YOU FOR YOUR ATTENTION “On this 58th anniversary of our independence, I want us to each reflect deeply and ask ourselves as individuals and collectively as a nation what we have done to make our country a land worth living in “ HE President Julius Bio 27 April 2019

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