Tonkolili District, Sierra Leone – President Dr. Julius Maada Bio has announced the direct transfer of Le62,214,818 (approximately $6 million) into Community Development Agreement (CDA) fund accounts for Sambaia, Dansogoia, and Simiria Chiefdoms in the Tonkolili District.
The funds, provided by Kingho Mining Company, a subsidiary of Leone Rock Metals, are part of a legally mandated initiative to support development in mining communities.
CDAs are formal agreements that require mining companies to allocate a share of their revenue to local communities. These agreements aim to ensure fair benefits from extractive activities and help prevent potential conflicts between companies and host communities.
In a further boost to the district’s mining sector, President Bio also officially commissioned the New Tonkolili 30M T/A Magnetic Iron Ore Processing Plant. The state-of-the-art facility, located in the Tonkolili mining area, began operations on December 1, 2023, and is being developed in three phases.
Designed by the Beijing General Research Institute of Mining & Metallurgy (GRIMM) and built by China Railway First Group (SL) Co., Ltd., the plant is expected to process 30 million tons of raw ore annually, producing 10 million tons of high-grade (66% TFe) iron concentrate.
The twin initiatives mark a significant step forward in Sierra Leone’s commitment to ensuring that mineral wealth translates into sustainable local development.
