Sierra Leone explores partnerships in mining

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Off-take by ArcelorMittal improves Kumba’s sales South Africa's Kumba Iron Ore's FY profit falls 66 pct. PHOTO: Wikipedia

“Mubadala is a potential strategic mining partner for the Republic of Sierra Leone and we are very pleased to initiate talks in this direction,” said the country’s mining and mineral resources minister, Alhaji Minkailu Mansaray.

“We look forward to working towards a successful partnership with Mubadala in the mining sector, which is highly strategic for Sierra Leone and our bilateral economic cooperation particularly for the development of our economy.”

According to the Ministry of Mines and Mineral Resources in Sierra Leone, the country’s primary mineral resources are diamonds, rutile, bauxite, which serves mainly as a feedstock for aluminium production, gold, limonite and small amounts of iron ore.

(READ MORE: West Africa: The next global iron ore destination)

Iron ore was discovered in the Marampa area in Sierra Leone in 1926, which forms part of a greenstone belt. The formation has been traced as far as Kukuna near the Guinea border and at Toma and Makalawa while other deposits investigated include the Tonkolili and Bagla Hill deposits.

“This initiative is in line with the government of the Republic of Sierra Leone’s Agenda for Prosperity as it addressees new opportunities for our people. The avowed commitment of president of the Republic of Sierra Leone, Ernest Bai Koroma is to ensure that partnership in our natural resources benefits the people of Sierra Leone,” Mansaray said.

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“Therefore the need for a broader and growing cooperation between the Republic of Sierra Leone and the United Arab Emirates cannot be underestimated.”

The Abu Dhabi-based investment and development company also has interests in the semiconductor technology, aerospace, energy, healthcare, information communications and technology, infrastructure, real estate and hospitality and services ventures sectors.