Continuing his persistent efforts to enhance the minerals sector in Sierra Leone, Minister of Mines and Mineral Resources, Julius Daniel Mattai, attended a significant event in London on 28 April, 2025. He witnessed the signing of a USD 330 million senior debt facilities for FG Gold Ltd.’s Baomahun Gold Project during Africa Finance Corporation (AFC) Investor Day.

Addressing participants at the event, Minister Mattai underscored the transformative impact of this investment, highlighting President Julius Maada Bio’s visionary leadership in cultivating a stable and appealing environment for investors. He noted that the recent Mines and Minerals Development Act of 2023, which incorporates international best practices and transparency, marked a pivotal moment for the country’s mining industry.

The Baomahun Gold Project, Sierra Leone’s first large-scale commercial gold mine, is set to become a cornerstone of the national economy. With a certified JORC resource of 5.81 million ounces of gold and a projected annual output of 150,000 ounces over 12.5 years, the project will significantly contribute to GDP and create up to 1,200 jobs. Additionally, 1% of gross revenues will support a Community Development Fund focused on local healthcare, education, infrastructure, and agriculture.

Minister Mattai commended FG Gold Ltd.’s commitment to inclusive development, citing their infrastructure upgrades and community projects. He also emphasized the project’s sustainability efforts, including a hybrid renewable energy solution developed with Cross Boundary Energy, which will prevent 380,000 tons of CO₂ emissions over 12 years.

The Minister acknowledged the confidence of African and international financial institutions in Sierra Leone’s reformed legal and investment climate. He called upon the global investment community to participate in unlocking Sierra Leone’s mineral wealth, emphasizing the country’s robust legal protections and the substantial impact of their investments.

In conclusion, Minister Mattai invited stakeholders to deepen their engagement with Sierra Leone, highlighting the transformative potential of the nation’s mining sector to foster prosperity throughout Africa. He also encouraged Africans to build together a future where Africa’s resources fuel not only global industry, but also African prosperity. Let us demonstrate that, with the right leadership, the right laws, and the right partnerships, mining can be a force for transformation, empowerment, and hope.”