By Africa 24 Parliamentary Reporter

The country’s mineral agency, SLMDA, has disclosed an estimate of 47 billion mineral deposits to be extracted but without a specific period indicated.

The agency was speaking at a committee in Parliament.

The meeting hosted representatives in the mines sector and other ministries.

Crucial discussions were held with representatives from the Sierra Leone Mines & Minerals Development Management Corporation (SLMDA) in Parliament.

Hon. Sallieu Osman Sesay (SOS) opened the session, explaining the committee’s purpose in Parliament.

It it not a “witch-hunt,” members are here to critically assess operations of government,” he said.

He underscored the committee’s mission which is to scrutinize activities in Ministries, Departments, and Agencies (MDAs) as per constitution.

The Executive Director of the Sierra Leone Mines & Minerals Development Management Corporation, Mr. Karefa Kargbo, took the floor to share an in-depth overview of the Corporation’s organizational framework and operational ethos.

He explained that the Corporation operates under a comprehensive governance structure, spearheaded by a board of directors led by the Minister of Finance.

This board includes crucial figures such as the Ministers of Mineral Development, Environment, and Lands, alongside the Attorney General and the Governor of the Central Bank.

Mr. Kargbo detailed his dual roles as Chief Executive Officer and Secretary of the Corporation.

He highlighted his responsibilities such as to provide strategic and operational objectives to be in perfect harmony.

Mr. Kargbo articulated that the Corporation had diligently laid a groundwork for which activities involve resolving complex asset-related issues, securing initial resources, and fostering collaboration with Parliament in tandem with the Ministry of Finance to gain project endorsements.

Among its notable early achievements is the successful transfer of specific assets, including land and facilities, which now serve as the foundation for the Corporation’s ambitious initiatives.

He further elaborated on the Corporation’s strategic partnership with China Overseas Engineering Group, aimed at exploring joint ventures that will harness the nation’s rich mineral resources for expansive economic development.

The Executive Director painted an ambitious vision for the Corporation, revealing plans to utilize an estimated 4.7 billion tons of mineral resources-envisioned not merely for extraction but as collateral to fund transformative infrastructure projects.

Among these projects is the proposed construction of a state-of-the-art seaport intended to significantly lower export costs and diminish reliance on the volatile iron ore market. Additional proposals include enhancing power supply systems tailored to support the mining sector, developing an extensive network of roads to interlink regions such as Magoda, Guguma, Kambia, and Kapakue, and potentially financing monumental infrastructure projects like crucial bridge construction.

To ensure that these plans are not only ambitious but feasible, the Corporation is conducting meticulous financial analyses to validate their sustainability and cost-effectiveness.

In addition to the ambitious infrastructure projects, Mr. Kargbo informed the assembly about a framework agreement signed with Chinese entities, emphasizing the need for verifying mineral reserves and strategizing future operations.

This collaboration is designed to align with the Corporation’s broader vision of converting mining revenues into enduring economic growth and infrastructural advancement for the nation of Sierra Leone.

Hon. Rose Marie emerged as a vocal advocate for the welfare of local communities, particularly in the Tonkolili District.

She fervently emphasized the necessity for prioritizing the needs of residents by creating meaningful job opportunities while ensuring that development initiatives  benefit those living in the mining areas for a sustainable growth.