CTC Mining SL Limited has strongly rejected reports alleging that the company is on the brink of collapse, describing the claims as misleading and lacking factual basis.
The response follows a claim alleging that the mining company has been facing severe financial difficulties, with workers reportedly going months without receiving salaries, working under deteriorating conditions and the complete or permanent cessation of mining operations.
Speaking in an exclusive interview with this medium, the Chief Executive Officer of CTC Mining SL Limited, Hisham Mackie, categorically denied the allegations and maintained that the company remains operationally and financially stable despite temporary challenges affecting the global mining industry.
Responding to claims that workers have gone months without receiving their salaries, Hisham Mackie described the allegation as not only false but baseless. He explained that all employees had received their salaries up to the end of May 2026, while all backlog payments, for one month only, will be made soon.
“There is no truth to the claim that our workers have gone months without pay. All staff have been paid through May 2026 and the June salaries will be paid next week,” he stated.
Addressing allegations of poor working conditions and concerns over occupational health and safety standards, the Chief Executive Officer said the company continues to operate in full compliance with Health, Safety and Environment (HSE) requirements and they are top notch.
He noted that CTC Mining maintains stringent safety standards and that all environmental regulatory approvals, including licences issued by the Environmental Protection Agency (EPA), are current and fully compliant with national regulations.
“Our safety standards are fully in line with HSE requirements, and all our EPA licences are valid and up to date,” Hisham Mackie said.
The CEO also responded to claims that the suspension of mining operations was evidence that the company is collapsing. He confirmed that mining activities were temporarily halted in April 2026 but stressed that the decision was driven entirely and purely by prevailing global market conditions rather than financial distress.
According to Hisham Mackie, escalating global tensions significantly increased international shipping costs, making sea freight to China commercially unviable when compared with prevailing mineral prices on the international market.
He explained that the temporary suspension of production was a strategic business decision aimed at protecting the company’s long-term sustainability until market conditions improve.
“The fact that operations were paused does not mean the company is on the brink of collapse,” he said. “The decision was necessitated by global market realities that made exports to China uneconomical.”
Hisham Mackie further emphasized that temporary operational adjustments are common within the international mining industry, particularly during periods of market volatility and should not be interpreted as evidence of corporate failure.
He reaffirmed the company’s commitment to its workforce, regulatory compliance and responsible mining practices, expressing confidence that operations will resume when global market conditions become more favourable.
CTC Mining SL Limited maintained that while current international economic pressures have affected operational decisions, the company remains committed to fulfilling its obligations to employees, complying with Sierra Leone’s regulatory framework and sustaining its long-term investment in the country’s mining sector.
