Kingho Investment Company Changes its Name to Leone Rock Metal Group

By Amin Kef Sesay

The Kingho Investment Company, which is one of the iron ore mining and exporting companies operating in Sierra Leone, has on the 19^th October 2021, during a Press engagement, informed members of the Fourth Estate that the company has now changed its name to Leone Rock Metal Group.

Chairing the Press Briefing, Salim Sillah, who is a Director in the Office of the Chief Executive Officer of the company, extended thanks to the CEO to allow him play the role as Chairman, for his foresight and ambition.

He noted the significant roles all have  been playing to take the company to the height  where it is today adding that the company should be judged by the things it does, their contributions to the development of society and not otherwise.

He revealed that the main thrust of the meeting is to inform newsmen that there has been a change in the name of the company.

The President of the Sierra Leone Association of Journalists (SLAJ) , Ahmed Sahid Nasralla, in his statement intimated that SLAJ was founded on the premise of protecting press freedom maintaining how the media is a powerful conduit to disseminate vital information and effect change in any society.

“ I am personally impressed with the way the company relates with the media,” he commended the iron ore mining and exporting company adding that there has yet been no incidence that has warranted the company to make a report or complaint against a  journalist to the Police or Courts.

The SLAJ President said he is even glad that the company has in its employ one of the members of SLAJ in the person of Abdul Malik Bangura as Public Relations Officer. He reiterated that the Press is present as a way of showing solidarity behind him and the company. He expressed hope that the company will continue to accept meaningful criticisms and enjoined Management and other employees to peacefully coexist with residents in their areas of operations.

In his statement, the Chief Executive Officer of the company, Gilbert Zhao, stated that he is very pleased to formally announce the change of name of Kingho Investment Company to Leone Rock Metal Group.  He explained that the Kingho Investment Company was first established in July 2010 stating how they have strived over the years to transform the company to a more integrated one.

“The change of name to Leone Rock Metal Group is along this trend to localize the company with a name that gives it a Sierra Leonean identity,” the CEO disclosed.

He furthered that Leone Rock Metal Group, as of now, is one of the largest resource investment companies in West Africa. According to him, Leone Rock Metal Group remains the parent company of Kingho Mining Company and Kingho Railway & Port Company which, he said, are part of an integrated Iron Ore Mining-Railway-Port Handling and Export Group of Companies.

The CEO disclosed that the company’s assets encompasses an open pit iron ore mine located in Ferengbeya, Tonkolili District  and a 192 KM railway and an integrated train discharge, one processing and ship loading Port located in Pepel, Northwest Sierra Leone.

“We cannot undertake this landmark transformation without reaching out to the people of Sierra Leone and all stakeholders including the media that have contributed in different ways to our achievement over the years,” he revealed.

He maintained that during the past decade the iron ore mining industry in the country has witnessed the Ebola outbreak, massive drop in iron ore price that pushed bigger companies to shut down operations in the country.

“However, our company held on and even increased investment by bringing  the Tonkolili Iron Ore mine back into production,” he informed furthering how they also reactivated the railway and the Pepel Port.

He continued that even during the COVID-19 pandemic they brought in needed revenue to the Government through tax and royalty saying it shows their commitment to sustainable investment in Sierra Leone.

The CEO said currently, Leone Rock Metal Group and its two subsidiaries (Kingho Mining Company and Kingho Railway and Port Company) and subcontractors have employed 2,000 Sierra Leoneans with a respectable and meaningful job. He disclosed that national employees are more than 98% of the total workforce in the company.

“We have created a safe working environment for our employees, medical insurance and monthly motivational incentives that has improved our employee retention ability,” he stated adding that their support to local content is visible by the list of national vendors and suppliers exceeding 80% of our overall suppliers,” the CEO said.

He said the company has an investment of over 148.62 Million US Dollars in Sierra Leone, have exported over 1 million tons of iron ore between March 2021 to now.

“We have made payments of over 76.4Billion Leones to the Government of Sierra Leone and have made significant investment exceeding 1.8 Billion Leones into the community through our CRS projects covering health, agriculture, education, water and sanitation and also supported the Sierra Leone Police and Military in various ways.

In summary, he said ,the name of Kingho Investment Company is now Leone Rock Metal Group, the names of their subsidiaries Kingho Mining Company and Kingho Port and Rail Company remain the same and unchanged and all documents bearing Kingho Investment Company, which was their previous name, remain valid.

A question and answer session climaxed the Press Briefing.