An iron ore project has been given the all important go ahead for a mining licence agreement in Sierra Leone.
SL Mining Ltd, a subsidiary of one of the world’s leading commodity trading companies, Gerald Group, had been negotiating with the National Parliament of Sierra Leone for a Mining Licence Agreement for its Marampa project.
The unanimous vote of confidence by Parliament in SL Mining emphasises the strong support for the Marampa project locally, reflecting its significant importance to the national economy.
The MArampa project will see SL Mining look to mine a mineral reserve of over 1 billion tonnes of iron ore equivalent, which will span over a 40-year life of mine.
The project is targeting restart in mid-2018 with initial production of 2 million tonnes per annum of high grade iron ore (65% Fe +) to capture the high grade premium market before subsequently ramping up to over 6 million tonnes per annum.