What's the direction of the Sierra Leone mining industry?

Mining Review Africa,  a magazine platform in the African mining industry, said Monday that Sierra Leone's Minister of Mineral Resources, Foday Rado Yokie, is confirmed to attend the Investing in African Mining Indaba.

Billed as the world's largest mining investment event, the show will take place in Cape Town, South Africa, February 3-6, 2020.

Mr. Yokie was appointed Sierra Leone Minister of Mines on May 9, 2019, and is popular among his supporters for wearing expensive, ostentatious clothing and jewelry or bling. 

Sierra Leone has large reserves of diamonds, iron ore and bauxite. The country possesses one of the largest rutile reserves in the world. Whilst mining contributes about 20% to the national GDP, it is said to account for around three-quarters of the country’s exports.

In 2019, Sierra Leone's GNI per capita was $1,348. Gross national income or GNI is the total income received by the country, during an accounting year. GDP is used as an indicator of a country's economic strength.

Reviewing GNI per capita in 192 countries from the World Bank’s World Development Indicators Database,  a financial news company identified Sierra Leone among the poorest countries in the world in 2019.

• GDP: $10.5 billion

• Population: 7.6 million

• Life expectancy at birth: 52.2 years

Sierra Leone is a resource-rich country. Though the war ended in 2002, Sierra Leone's public sector is still perceived to be more corrupt than most other countries.

The problems associated with the lack of economic development are evident. About a quarter of the country's population is undernourished, and Sierra Leone's maternal mortality rate of 1,360 deaths per 100,000 live births is the worst in the world. At 52.2 years, average life expectancy at birth in Sierra Leone is the worst in the world.

As part of their drive to attract investment, Sierra Leone will be exhibiting at Mining Indaba and Minister Rado Yokie will be presenting a  country case study -  “The new direction for Sierra Leone’s mining sector” -  where he will be reporting on the recently completed airborne geophysical survey and the achievements that the country has made in formalizing the artisanal mining sector.

The cabinet minister will also be participating in the West Africa panel discussion as part of the Intergovernmental Summit on Wednesday at Mining Indaba.

The theme for Investing in African Mining Indaba 2020 is "Optimising Growth and Investment in the Digitised Mining Economy." The program content for 2020 is geared towards exploring the key drivers of investment decisions within the African mining market and forging the future direction of the African mining industry.

Mining Indaba 2020 is gearing to attract even more junior, mid-tier and major mining companies and investors with the aim of facilitating deal-making and investment opportunities.

2020 will also bring Mining 2050, the Intergovernmental Summit, resource nationalism, innovations in technology, Battery Metals Day and the Investment Battlefield.

Comments

Popular posts from this blog

Massah Kaikai has been missing since August 2018, no new leads

Violence: the New Normal for Fourah Bay College Clubs, Fraternities and Sororities

Is Sierra Leone’s Bio Going After Corruption or His Adversaries?