UNDERSTANDING THE SIERRA LEONE CHAMBER OF MINES

Message from the President of the Sierra Leone Chamber of Mines

The mining industry has a long history in Sierra Leone. It has much to be proud of. It has also had to acknowledge and initiate the need for substantial change. Current debates from the media, mining communities, government, investors and other stakeholders indicate plainly that their expectations of the mining sector and its contribution to national development have increased significantly. We in the mining sector are amongst those at the forefront of that debate. We have accepted that it is no longer su�cient to measure our contribution to the country solely in monetary terms. Instead we have begun to ask ourselves how we can ensure that our activities are better aligned with our nation’s development goals and ambitions. The establishment of a new and invigorated Sierra Leone Chamber of Mines has been an important step in that process.

We are making considerable strides towards achieving that alignment, putting in place progressive policies and procedures that will allow a substantial proportion of the value created from our industry to be captured and retained within our host countries.

Minerals are finite resources. We are therefore increasingly focused on strategies which support sustainable economic development. The Local Content Policy is one such example. This is aimed at fostering skills as well as encouraging and supporting an increased service, industrial and manufacturing capacity in Sierra Leone. Last year the Sierra Leone Chamber of Mines signed a Declaration of Cooperation that committed our industry to working with the Government and other partners to progress the implementation of the Local Content Policy.

So too have issues of transparency and accountability become more critical to our stakeholders, and Sierra Leone’s achievement of Extractive Industries Transparency Initiative (EITI) compliance this year was an important step towards that goal. Through the EITI, we will be able to see accurate and verifiable data on what the extractives sector is actually contributing to Sierra Leone’s economy.

The recent past has been a turbulent one for our sector. Weak commodity prices have had a substantial negative impact on our share prices. It is reflective of the new era of mining in Sierra Leone that the challenging economic climate has not impacted on our commitment to becoming partners in the development of Sierra Leone and its economy.

Mining companies in Sierra Leone have sought to do things independently and individually for too long. The industry-wide realisation that it would be far more e�cient and beneficial to us within the mining sector, to have one body advocating on behalf of our industry, along with promoting its growth and fostering its development has given rise to the Sierra Leone Chamber of Mines. We look forward to working with all our stakeholders to develop an industry that every Sierra Leonean will regard with pride.

John Bonoh SisayPresident, Chamber of Mines and Chief Executive O�cer, Sierra Rutile Ltd

FAQs

What is the Sierra Leone Chamber of Mines?

The Sierra Leone Chamber of Mines is the voice of the Sierra Leone mining industry both nationally and abroad.

What is the function of the Sierra Leone Chamber of Mines?

It represents the interests of the mining sector, advocating on its behalf and promoting its growth and development for the benefit of all its stakeholders. It is committed to a mining industry that is safe, e�cient and transparent. It seeks to promote sound labour relations, as well as training and development for the mining industry and also serves as an information and resource hub for its members and the general public.

When was it formed?

The Sierra Leone Chamber of Mines was originally formed in 1965 taking the place of the former Sierra Leone Mining Association. It went into abeyance during the civil war and was re-established on 13 February 2013 with a new constitution.

How is the Sierra Leone Chamber of Mines funded?

The Sierra Leone Chamber of Mines is a not-for-profit body that is funded through its membership subscriptions.

Who are your members?

Our founding members include the big five mining companies in Sierra Leone - Sierra Rutile Ltd, London Mining, Octea Mining, African Minerals Ltd and Amara Gold SL Ltd.

Do you have to be a large mining company to become a member?

No, you do not even have to be a mining company to become a member. Membership is open to any individual or company registered in Sierra Leone and engaged in the mining, petroleum, extractive, exploration and service provider sectors. There are four categories of membership which reflect varying levels of interest and interaction. Ordinary membership is aimed at large scale mining operations which have been in operation for more than two years. Associate membership is for individuals who are involved in the mining industry on their own account and includes the artisanal mining sector. A�liate members are individuals or companies that provide support services for the mining sector. Honorary members are individuals or government departments that are admitted to membership on the advice of the council.

What are the benefits of being a member of the Sierra Leone Chamber of Mines?

By joining forces and leveraging resources, the mining industry can better promote its growth and development. Members will benefit from its advocacy role, and be able to add their voice to debates and issues that matter to the mining industry. The Sierra Leone Chamber of Mines will also be a hub for information, support and advice on mining-related matters. Member only events will provide valuable opportunities for networking both nationally and internationally.

Why is the Sierra Leone Chamber of Mines important?

Representation to government and other stakeholders carries more weight when expressed collectively and as such, a membership body is more powerful than the sum of its parts. The Sierra Leone Chamber of Mines encourages consultative policy development on issues impacting the resources sector, while promoting the value of the sector to all stakeholders.

We will take a lead in advancing professional development within our sector and in ensuring our stakeholders remain informed about the industry through a dedicated programme of road shows, seminars and workshops.

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SSIERRA LEONE CHAMBER OF MINES

UNDERSTANDING THE SIERRA LEONE CHAMBER OF MINES

Message from the President of the Sierra Leone Chamber of Mines

The mining industry has a long history in Sierra Leone. It has much to be proud of. It has also had to acknowledge and initiate the need for substantial change. Current debates from the media, mining communities, government, investors and other stakeholders indicate plainly that their expectations of the mining sector and its contribution to national development have increased significantly. We in the mining sector are amongst those at the forefront of that debate. We have accepted that it is no longer su�cient to measure our contribution to the country solely in monetary terms. Instead we have begun to ask ourselves how we can ensure that our activities are better aligned with our nation’s development goals and ambitions. The establishment of a new and invigorated Sierra Leone Chamber of Mines has been an important step in that process.

We are making considerable strides towards achieving that alignment, putting in place progressive policies and procedures that will allow a substantial proportion of the value created from our industry to be captured and retained within our host countries.

Minerals are finite resources. We are therefore increasingly focused on strategies which support sustainable economic development. The Local Content Policy is one such example. This is aimed at fostering skills as well as encouraging and supporting an increased service, industrial and manufacturing capacity in Sierra Leone. Last year the Sierra Leone Chamber of Mines signed a Declaration of Cooperation that committed our industry to working with the Government and other partners to progress the implementation of the Local Content Policy.

So too have issues of transparency and accountability become more critical to our stakeholders, and Sierra Leone’s achievement of Extractive Industries Transparency Initiative (EITI) compliance this year was an important step towards that goal. Through the EITI, we will be able to see accurate and verifiable data on what the extractives sector is actually contributing to Sierra Leone’s economy.

The recent past has been a turbulent one for our sector. Weak commodity prices have had a substantial negative impact on our share prices. It is reflective of the new era of mining in Sierra Leone that the challenging economic climate has not impacted on our commitment to becoming partners in the development of Sierra Leone and its economy.

Mining companies in Sierra Leone have sought to do things independently and individually for too long. The industry-wide realisation that it would be far more e�cient and beneficial to us within the mining sector, to have one body advocating on behalf of our industry, along with promoting its growth and fostering its development has given rise to the Sierra Leone Chamber of Mines. We look forward to working with all our stakeholders to develop an industry that every Sierra Leonean will regard with pride.

John Bonoh SisayPresident, Chamber of Mines and Chief Executive O�cer, Sierra Rutile Ltd

FAQs

What is the Sierra Leone Chamber of Mines?

The Sierra Leone Chamber of Mines is the voice of the Sierra Leone mining industry both nationally and abroad.

What is the function of the Sierra Leone Chamber of Mines?

It represents the interests of the mining sector, advocating on its behalf and promoting its growth and development for the benefit of all its stakeholders. It is committed to a mining industry that is safe, e�cient and transparent. It seeks to promote sound labour relations, as well as training and development for the mining industry and also serves as an information and resource hub for its members and the general public.

When was it formed?

The Sierra Leone Chamber of Mines was originally formed in 1965 taking the place of the former Sierra Leone Mining Association. It went into abeyance during the civil war and was re-established on 13 February 2013 with a new constitution.

How is the Sierra Leone Chamber of Mines funded?

The Sierra Leone Chamber of Mines is a not-for-profit body that is funded through its membership subscriptions.

Who are your members?

Our founding members include the big five mining companies in Sierra Leone - Sierra Rutile Ltd, London Mining, Octea Mining, African Minerals Ltd and Amara Gold SL Ltd.

Do you have to be a large mining company to become a member?

No, you do not even have to be a mining company to become a member. Membership is open to any individual or company registered in Sierra Leone and engaged in the mining, petroleum, extractive, exploration and service provider sectors. There are four categories of membership which reflect varying levels of interest and interaction. Ordinary membership is aimed at large scale mining operations which have been in operation for more than two years. Associate membership is for individuals who are involved in the mining industry on their own account and includes the artisanal mining sector. A�liate members are individuals or companies that provide support services for the mining sector. Honorary members are individuals or government departments that are admitted to membership on the advice of the council.

What are the benefits of being a member of the Sierra Leone Chamber of Mines?

By joining forces and leveraging resources, the mining industry can better promote its growth and development. Members will benefit from its advocacy role, and be able to add their voice to debates and issues that matter to the mining industry. The Sierra Leone Chamber of Mines will also be a hub for information, support and advice on mining-related matters. Member only events will provide valuable opportunities for networking both nationally and internationally.

Why is the Sierra Leone Chamber of Mines important?

Representation to government and other stakeholders carries more weight when expressed collectively and as such, a membership body is more powerful than the sum of its parts. The Sierra Leone Chamber of Mines encourages consultative policy development on issues impacting the resources sector, while promoting the value of the sector to all stakeholders.

We will take a lead in advancing professional development within our sector and in ensuring our stakeholders remain informed about the industry through a dedicated programme of road shows, seminars and workshops.

SIERRA LEONE CHAMBER OF MINES