“Sierra Leone is open for business,” President Julius Maada Bio said.
According to sources close to the corridors of power, the president has persuaded investors in China, Britain, and the United Arab Emirates since he assumed office two years ago, with a pledge to ensure that citizens stand to benefits from every development in the mining sector.
The Commissioning of Cheng Li Mining Company by the Minister of Mines and Mineral Resources Timothy Kabba said, was a clear demonstration of President Julius Maada Bio’s efficient leadership in delivering his promises on taking the country in the right direction. The people of Dalakuru, Diang Chiefdom in Koinadugu District were extremely happy, as they were dancing and singing for having such a huge investment and a source of livelihood within their community.
Hundreds of young men have been employed by the company recently.
Since the 1980s when mining started in Diang Chiefdom, there had been no tangible impact on the community, but residents testified that the coming of Cheng Li Mining Company in six months, has recorded massive developments.
PC Sheku Magba the 3rd Paramount Chief, Diang Chiefdom emphasized that Cheng Li Mining Company had secured them with a road network, scholarship for school pupils, construction of houses, employment of hundreds of locals within the chiefdom.
While commissioning the Cheng Li Mining Company Minister of Mines and Mineral Resources Timothy Kabba reaffirmed the government’s commitment to creating the enabling environment for private sector investment to thrive.
He however called on the residents to work closely with the mining company.
Companies like Cheng Li Mining pays millions of dollars a year to the government for the large-scale mining license and are required to put 0.01% of their proceeds into community development, according to the mining code.
Country Director Cheng Li Mining Company Fassally Tarawally said like many African countries, Sierra Leone has seen foreign companies which pay governments huge fees for mining rights and would build the capacity of young people they employ.
The coming of Cheng Li Mining Company is welcoming news for the country’s economy following the shutting down of some in recent times.
Cheng Li Mining Company is among the mining companies that have shown interest in the extractive industry in Sierra Leone.