The Sierra Leone Telegraph: 3 April 2014
When president Koroma of Sierra Leone visited Abu Dhabi in January 2014, he held talks with the government of the United Arab Emirates, aimed at exploring economic cooperation between the two nations.
Key sectors of the economy of Sierra Leone, such as fishing, agriculture, tourism and forestry are desperately in need of investments.
And so too is the country’s mining industry, especially iron ore, which though leading the recent rise in the nation’s GDP, could benefit immensely from increased investment.
In particular, there are sectors of the mining industry that are yet to be fully exploited; bauxite, and other precious metals.
Report from the Sierra Leone embassy in Abu Dhabi, says that president Koroma has sent his minister of mineral resources – Minkailu Mansaray to continue high level talks with the government of Arab state, as the president searches for new mining investment partners.
The meetings are being coordinated by Mr. Bahige Annan – Consul General of Sierra Leone in Dubai, and Mr. Filip Matwin of the Royal Group.
The minister has had talks with Mubadala Development Company, which is the Abu Dhabi-based strategic investment and development company, to explore new investments and partnerships in strategic sectors, such as Bauxite, Alumina and Iron Ore in Sierra Leone.
Minister Minkailu Mansaray said that: “Mubadala is a potential strategic mining partner for the Republic of Sierra Leone, and we are very pleased to initiate talks in this direction.
“We look forward to working towards a successful partnership with Mubadala in the mining sector, which is highly strategic for Sierra Leone and our bilateral economic cooperation, particularly for the development of our economy.
“This initiative is in line with the government of Sierra Leone’s Agenda for Prosperity, as it addressees new opportunities for our people.
“The avowed commitment of His Excellency the President of the Republic of Sierra Leone – Dr. Ernest Bai Koroma, is to ensure that partnership in our natural resources benefits the people of Sierra Leone.
“Therefore the need for a broader and growing cooperation between the Republic of Sierra Leone and the United Arab Emirates cannot be underestimated.”
Mubadala is an investment and development company, supporting the diversification of the UAE by investing in key infrastructure, and creating globally integrated industry sectors in Abu Dhabi.
The company is mandated to strengthen Abu Dhabi’s growth potential, and to help the government of Abu Dhabi meet its socioeconomic targets.
While Mubadala’s investments are designed to generate sustainable profits over the long-term, they also deliver strong social returns to Abu Dhabi and the United Arab Emirates.
Focused on investment and development across multiple sectors, Mubadala’s portfolio is valued at more than US$55 billion.
The company brings together and manages a multi-billion dollar portfolio of local, regional and international investments and partners, with leading global organizations to operate businesses across a wide range of industry sectors.
These include semiconductor technology, aerospace, energy, healthcare, information communications and technology, infrastructure, real estate and hospitality, and services ventures.