President Bio engages South African mines experts, legislators and financiers

Sierra Leone Telegraph: 5 February 2020:

President Dr Julius Maada Bio has concluded another important meeting at the Africa Mining Indaba in Cape Town, officially initiating engagements with 10 highly technical experts, legislators and mines development financiers in South Africa, according to State House report.

Speaking about his government’s use of evidenced-based data in governance generated by the Directorate of Science Technology and Innovation which is located in his office, president Bio said: “Now, all decisions we make as a government are informed by data and we are very deliberate. We are just nearly two years into office and we don’t want to start off on the wrong footing.

“First we need to know what we have, the business around it and before we sell,” data in governance he said, in reference to his plans to sustainably manage Sierra Leone’s minerals wealth to benefit its citizens and support the government’s free quality education initiative.  (Photo above: President Bio and his negotiating delegation from Sierra Leone).

He told the meeting that the country, rich in minerals deposit, has just completed a nationwide airborne geophysical survey with very high-resolution datasets that would eventually inform government’s strategic plans for the mines and extractives industry.

“We want to have a sovereign wealth fund,” which is usually owned by the state to manage national savings for the purposes of investment, “to finance our long term flagship projects around human capital development,” he said.

He also said that he valued the conversation he was having with the South Africans because it would help his government organise Sierra Leone’s mining sector.

Bridgette Motsepe Radebe, a South African businesswoman and Ambassador of Economic Development and Entrepreneurship, told President Bio that there is money to invest in Sierra Leone.

“As soon as we have done exploration, identified where the ore body is, we start building the mines then we go to the banks. There is a lot of money that you can get from the banks as long as your ore body is good, the resource analysis is good and your financial models speak to what the funder wants to see.

“You are a very rich country. If you look at your minerals, based on the audit of the resources and reserves by your National Minerals Agency, reflecting your balance sheet, you already have a collateral,” she said adding that they were very experienced to create a committee of various skills to support the proper implementation of the country’s strategic minerals.

“Your ownership model must also be indigenised. We need to see how much stake you own as a country. I can’t come to a country with 10% ownership. Your people must own more. Also as chairperson of the South Africa-Russian business forum in BRICS, I will speak to my counterparts,” she said.

According to State House report, the meeting was a result of President Bio’s keynote address at the world’s largest mining investment event taking place in South Africa, where he emphasised the need for trustworthy mining partners.

7 Comments

  1. And it is said that wherever the majestic Sun rises,its comforting brightness,and reassuring warmth,should always be considered as the clearest signals,highlighting to a world deeply asleep,that limitless possibilities,have already been made readily available for attaining our finest,loftiest,dreams,goals,and aspirations. The same thing applies when assessing the potentials of the incomparable Young4na; His insights,inspires you to believe that the way towards genuine progress,can be found even in the darkness,if only one has the courage to persevere in honesty,and sincerity.

    Indeed, my brother,their rudderless ship is now sailing in unfamiliar waters;the lawyers representing SL mining have been eating these SLPP dullards,day in and out,for breakfast,lunch,and dinner – every minute that goes by,yelling CHECKMATE,even before their kindergarten mindsets planned,or even made a move.(lol) Always a great pleasure to hear your candid opinions Bro….Rising Sun Will Rise Again.

  2. The Great Sayedna, is that the RED team? Where is the GREEN team? I don’t hear much of them (the greens or moonkoos) nowadays. Have they raised the white towel …

    • Alimamy “Lion that Rules the Den” Turay – It always makes me smile my bro whenever I am reading your dynamic, sharp-witted, laser-focused comments. (lol) Especially in those areas where I see you brandishing a sword of honesty,and truth,or a collection of unique tools, and devices – sledgehammers, chainsaw and iron shovels,to be used for ripping apart,and tearing down the most stubborn walls of lies,deceits,arrogance,and ignorance.

      Good to know,that they have become totally fed up,dejected,and disgusted with wearing only garments of failures.(lol) And who can blame them,for throwing in the towel,and running as fast as they could,like impalas in danger? Who can say to them; “Why do you run from a never ending story of failure” (lol) Rising Sun Will Rise Again.

  3. Gentlemen – Sahr Matturi,..Young4na,and Alimamy Turay, the lies, deceits, and deceptions of the notorious SLPP are spiralling out of control, and if something pragmatic, and sensible is not urgently done – away, over the cliff we go. If you guys can find time, I would like you check out https\ jusmundi.com….and there you will be able to read and draw solid conclusions for yourselves from an unbiased,comprehensive report of what transpired between SL Mining ltd,and Sierra Leone,during an International Arbitrary Court Proceeding. Every thing you need to know is there – our nation is in deep trouble,my brothers…. Rising Sun Will Rise Again.

    • Thanks professor Conteh for sharing the link regarding the ongoing litigation between our government and SL mining ltd. The pertaining pdf documents dealing with this case are indeed a great source to get a bird’s eye view on what has transpired in the International Chambers Court (ICC) between our govt. and SL mining. Although I was unable to thoroughly read everything due to time constraints, from what I gathered by browsing through multiple subsections, it appears our government legal representatives are not meeting expectations. On several occasions, they failed to comply and submit needed documents to support their case. On one occasion, they even blamed the slow internet in the country to covered up their ineptitude.

      Things are really not looking great for our country as far as this matter is concerned. Like we have observed in so many instances with the current regime, the classroom professors think writing their own rules detach from realities and established principles is the way to govern a nation. Time and again, they want to impose their ill-advised actions into whoever that is doing business in Sierra Leone and the citizens at large.

      In the area of politics, they have managed to bring onboard most of the judiciary leadership on their side, so any illegal actions are bound to declare legal regardless of the long term ramifications. This is definitely not the case once you leave the shores of Sierra Leone were the rule of law exists. Our nation is indeed heading for uncharted territory.

  4. “…the need for trustworthy mining partners.”

    The above statement is critical in any business and investment relationship. President Julius Bio should ensure that prospective investors are properly vetted and that the officials on the Sierra Leone side are also properly screened. This is to avoid a duplication of the situation under APC rule where crooked APC functionaries conspired with rogue foreign investors to rip off Sierra Leone. Way to go president Bio.

  5. Good steps in bringing investors.. But Mr President you need to do more for the people and the country’s economy. You fail in price control, creation of jobs, and lack of food and water supply.

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