Deal #1806

Sierra Leone
Created at
2013-02-15
Last update
2021-08-02
Last full update
2021-08-02

Land area

Intended size
2 773 ha
Size under contract (leased or purchased area)
  • [2012, current] 2773.0 ha

Intention of investment

Intention of investment
  • [current] Mining
Comment on intention of investment
iron ore

Nature of the deal

Nature of the deal
Exploitation permit / license / concession (for mineral resources)
Comment on nature of the deal
The licence comprises a mine, power plant and processing plant. Mine has a lifespan of at least 30years.

Negotiation status

Negotiation status
  • [2009] Concluded (Contract signed)
  • [2017] Concluded (Change of ownership)
  • [2019] Failed (Contract cancelled)
  • [2021, current] Concluded (Contract signed)
Comment on negotiation status
Mining license obtained in 2009, parliamentary approval in February 2010. ML02/09. Taken over by SL Mining under ML01/2017. In 2019 the government cancelled the license, but it was reinstated in 2021.

Implementation status

Implementation status
  • [2012] In operation (production)
  • [2019] Project abandoned
  • [2021, current] In operation (production)
Comment on implementation status
First ore shipments made in 2012. Gerald's wholly-owned subsidiary SL Mining filed for arbitration in August 2019 over a royalty payment dispute and suspended the Marampa mine the following month. Sierra Leone's government responded by cancelling its mining licence.

Leasing fees

Annual leasing fee
500 000
$
for specified area
Annual leasing fee area
31 900 ha
Comment on leasing fee
SL MINING shall pay to the GOSL annually and without demand on Reference Date and on each anniversary of the Reference Date, the sum of US$500,000 (Five hundred thousand United States Dollars) in respect of an annual lease rent as defined and envisaged in its Mining Licence ML0I/2017 which amount shall be increased annually on each anniversary of the Reference Date by an amount equal to 3% of the annual lease rent for the previous year. (Source: https://resourcecontracts.org/contract/ocds-591adf-9176507089/view#/text). In addition, SL MINING shall pay to the land owners through the appropriate local authority in which the mining lease area is situated annually and without demand an annual surface rent as specified in the respective leases of SL MINING, subject to revision provided for in the Provinces Lands Act (Cap 122).

Contract farming

Contract farming
No