China’s Kingho Investment to start shipment of iron ore in Sierra Leone by December 2020

Abdul Malik Bangura: Sierra Leone telegraph: 18 July 2020:

As first Shipment expected in October to December 2020, Kingho Investment says it will employ over 2000 Sierra Leoneans to revamp iron ore mining in Tonkolili District.

At the peak of a global pandemic which has ravaged economies of all countries across the world, Sierra Leone is having a clear boost in its mining sector as a group of expatriate from the Chinese owned Kingho Investment Company Limited jets into Sierra Leone yesterday, Friday 17th July 2020, with the motive to revamp iron ore mining in the country’s northern district of Tonkolili.

Led by the General Manager of Kingho Investment Company Limited, Mr Gilbert Zhao, who together with others flew in onboard a private chartered Chinese flight, the team leader said they are in the country to boost the mining sector and also government’s revenue and tax collection.

He confirmed that Kingho Investment Company Limited is working on exporting its first shipment of iron ore from Sierra Leone by the 4th quarter (October-November-December) of 2020.

Speaking on arrival at the Freetown International Airport in Lungi, Mr Gilbert Zhao started by thanking President Julius Maada Bio, the Government and People of Sierra Leone for their confidence in Kingho.

He assured that going forward his investment company is keen on employing a workforce of between two thousand and five thousand employees.

He added that his company will do everything possible to comply with all laws relating to local content policy in Sierra Leone. Hence, he said, some of the expatriates are sub-contractors who will utilize local Sierra Leonean engineers and workers who would also receive training in Beijing, China.

Mr Zhao further confirmed that the confidence they have in the Government of Sierra Leone is what gives Kingho Investment Company Limited the confidence to invest millions of Dollars in resuming iron ore production in country.

In addition, Mr Zhao said that the new job opportunities will be opened to every Sierra Leonean irrespective of gender, ethnicity, social origin or religion. He further assured that they will help Sierra Leone achieve more on increased tax and revenue generation. He said for the first time Sierra Leoneans will benefit from Sierra Leone’s natural wealth.

Kingho Investment Company Limited will initially focus its mining activities in Sambaia, Dansogoia, Simiria, Kafe and Tane chiefdoms all in the Tonkolili District of the Northern Province of Sierra Leone.

Kingho Investment Company Limited is a subsidiary of China Kingho Energy Group with headquarters located in Beijing, China.

9 Comments

  1. This is a nightmare for the APC party after brainwashing the youths of Lunsar that no investors will return to their town and unemployment will be the order of the day. In the near future, the youths will definitely realize that they have been used as political pawns, to make the country ungovernable, because they refused to accept the reality of the 2018 presidential election results. SORE LOSERS.

  2. I was part of the team since 2011 to 2018 as Port Supervisor.Looking forward to work with the Company again.

  3. Any business has to rely on market conditions and as was the case with AML and Shandong Steel the market prices and conditions forced them to close their operations. This happens in most countries and well the Iron Ore price is back at a level a investor will be interested in trying to make that all important part ie a PROFIT. They don’t come as a humanitarian outfit so think business first or privatize this important part of the economy if it is so critical to the national balance.

    Labour, suppliers, service sectors and government depts all need to be capable of supporting this size of operation in a measured fashion or one them become the constraint and the operator also needs to identify up front where the shortcomings are of these players and offer solutions to make them work for the operator. When the iron ore price cyclically runs down as it will all need to have hedged for this likely period in a few years time and hopefully after the operator has had a chance to accumulate reserves.

    Only key expertise should be imported by the operator to look after their investment – not frontline operators, as the country and region has plenty skilled workers but don’t expect superstars as they demand top wages. Hope the rail trucks stay on the tracks.

  4. We thank God almighty to making it possible for the reopening of the largest mining company in Sierra Leone. I was part of the team in the last company {SD Steel} as a senior Plumber and also a senior Water Treatment plumber engineer, from 2013 2017.

  5. Mr Zhao said that the new job opportunities Will be opened to every Sierra Leonean irrespective of gender, ethnicity, social origin or religion, thanks God for that. I was part of the team since 2011 to 2018 – looking forward to work with the company again.

  6. I only hope that the chinese mining companies fulfil their corporate social responsibilities to the people of Sierra Leone.

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