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Deal #2371 Version #93687

Sierra Leone
Created at
2013-02-15
Last update
2024-08-09
Last full update
2024-08-14

Land area

Intended size
30 000 ha
Size under contract (leased or purchased area)
  • [2011-03-05] 6575 ha
  • [2014] 17812 ha
  • [2019, current] 18473 ha
Size in operation (production)
  • [2013] 3125 ha
  • [2014] 11057 ha
  • [2019, current] 12349 ha
Comment on land area
The company officially obtained 6575 hectares in terms of the lease agreement (first phase). Land is continuing to be taken from the local communities. The company has additionally occupied 600 hectares illegally, not included in the lease. The plans are to have 12 000hectares planted by 2017/2018.The ultimate goal is to obtain 30 000ha. One source states that the company has 30 000acres- 12140 hectares under contract. Socfin annual report 2014 states 17812ha under contract and 11057ha in operation. Another source states 18200ha in total. Four concessions: 2011/2012/2013/2014 but it is not clear what the size of each concession is.

Intention of investment

Intention of investment
  • [2019, current] Agriculture unspecified (18473 ha)
Comment on intention of investment
Oil palm

Carbon offset project

Carbon offset project
No

Nature of the deal

Nature of the deal
Lease
Comment on nature of the deal
Option to renew for a further 21 years. Another report states that the renewal period is for 25 years not 21 years.

Negotiation status

Negotiation status
  • [2011-03-05, current] Concluded (Contract signed)
Comment on negotiation status
The company signed on the 5th March 2011 a sub-lease with the Government of Sierra Leone, which holds the lead lease with the chiefdom council.The lease appears not to comply with the country’s land law by providing a renewal option not for 21 years but for two periods of 25 years. Four concessions: 2011/2012/2013/2014 but it is not clear what the size of each concession is.

Implementation status

Implementation status
  • [2013] In operation (production)
  • [2019, current] In operation (production)

Leasing fees

Annual leasing fee
12.5
$
per ha
Comment on leasing fee
The company pays US$ 5 rent per year per acre, with only half of it going to the land owners. Leasing fee data from contract.

Contract farming

Contract farming
No