By Ragan M. Conteh

The Ministry of Information and Civic Education on Tuesday, April 8, 2025 held its weekly press briefing at the Miatta Conference Hall in Freetown, where Minister of Mines and Mineral Resources, Julius Mattai, delivered an informative and detailed update on the state of Sierra Leone’s mining sector, stressing that: “Iron Ore is a cornerstone of Salone’s economy”.

He underscored the sector’s crucial role in bolstering the national economy and clarified the government’s responsibility as the steward of the nation’s mineral resources, acting in the best interests of the country and its people.

Minister Mattai said that, although the mining sector does contribute to the Gross Domestic Product (GDP), this contribution remains disappointingly low, limited to the single digit.

This shortfall is largely attributed to the economy’s lack of diversification.

He presented compelling financial figures that highlighted an increase in non-tax revenue, which surged from $32 million in 2023 to an impressive $49.9 million in 2024.

However, this was contrasted starkly by a 3.75% decline in total export value, plummeting from $1.6 billion in 2023 to just $1.2 billion in the following year.

The minister pointed out that iron ore remains the cornerstone of Sierra Leone’s export economy, accounting for nearly 70% of total exports in 2024. Major players like Kingho Mining were recognized for their significant contributions to this dominance. Meanwhile, the diamond sector, historically a mainstay, has been facing a downturn, bringing in less than $2 billion in 2024, a clear indicator of its steady decline. In contrast, heavy mineral sands—including valuable resources like rutile, zircon, and ilmenite—are gaining prominence, with these exports generating approximately $99 million for the country.

Mattai also took the opportunity to highlight significant strides in regulatory practices, emphasizing the government’s ongoing efforts to bolster transparency, enhance environmental protection, and improve coordination between various agencies involved in the mining process. He announced that new licenses have been issued for emerging minerals such as lithium, suggesting a bright future as new opportunities arise in the sector.

Minister Mattai therefore encouraged the public to develop a deeper understanding of the mining sector’s intricacies and the economic dynamics at play. He reaffirmed the government’s steadfast commitment to managing natural resources responsibly and ensuring that the national benefits from these resources are maximized for the betterment of all Sierra Leoneans.