In a compelling address to a distinguished gathering of global business leaders at the 9th World Cooperation Industries Forum in Istanbul, Turkey, Umaru Napoleon Koroma, the Deputy Minister of Mines and Mineral Resources of Sierra Leone, unveiled the nation’s vast potential in the minerals sector.
Highlighting Sierra Leone’s position as a premier investment destination, Deputy Minister Koroma emphasized the country’s extensive mineral wealth, including the world’s largest estimated natural rutile ore deposits, totaling a staggering 600 million tons. This revelation underscores Sierra Leone’s prominence on the global minerals stage.
Furthermore, he unveiled a recent geophysical survey in Sierra Leone’s northern region, unveiling the discovery of lithium—a high-value mineral integral to the production of various goods in the electrical and automotive industries.
Deputy Minister Koroma warmly welcomed international investors, with a particular focus on Turkish entrepreneurs, encouraging them to explore the abundant investment prospects offered by Sierra Leone’s mineral deposits. He stated, “Our mineral deposits offer significant opportunities for high returns in investments, and we welcome investors from all over the world, especially Turkey, to explore these opportunities.”
Shining a spotlight on Sierra Leone’s diamond industry, Deputy Minister Koroma shared the remarkable success of recent diamond discoveries. Sierra Leone is renowned for its exceptional diamonds, with a 970-carat gem, dubbed the “Star of Sierra Leone,” once ranking as the third-largest diamond globally. In a more recent development, a 709-carat diamond solidified Sierra Leone’s diamond legacy as the 13th largest in the world.
Moreover, Deputy Minister Koroma underscored the pivotal role of Small and Medium Enterprises (SMEs) in Sierra Leone’s growth and development.
He revealed that an SME Agency had been established by the government to nurture these enterprises, constituting 75% of all businesses in Sierra Leone, contributing 85% of employment, and accounting for approximately 70% of the nation’s GDP.
Deputy Minister Koroma expressed gratitude for the fruitful collaborations between Sierra Leone and Turkey, citing Turkish businesses’ involvement in vital projects such as providing electricity through Karpowership, managing the nation’s new airport under the Summa company, and various other ventures.
He extended a warm invitation to Turkish entrepreneurs to participate in Sierra Leone’s thriving mining sector, aligning with the objectives of President’s Agenda, known as the “Big Five.”
The 9th World Cooperation Industries Forum acted as a platform to facilitate direct engagement between top manufacturing companies in Turkey and representatives from over 43 African countries.
This collaboration aims to forge cooperative agreements that mutually benefit Turkish businesses and African nations, promising a win-win scenario for all parties involved.
