Minister of Mines and Mineral Resources, Julius Daniel Mattai, delivered a compelling address at a high-profile dinner hosted by FG Gold Ltd. during the Africa Finance Corporation (AFC) Investor Day in London. His message signaled a new era for Sierra Leone’s mining industry; one defined by accountability, meritocracy and long-term national prosperity.
Accompanied by the Director-General of the National Minerals Agency (NMA), Ing Hadji Dabo and the Director of Mines, Peter Bangura, the Mines and Mineral Resources Minister praised the bold investment of over $100 million made by FG Gold Ltd and its African partners. He described the move as a landmark in Sierra Leone’s mining history, lauding it not merely as a financial injection, but as a building block for sustainable, inclusive national development.
Julius Daniel Mattai took the opportunity to reflect on the historical underperformance of the mining sector despite Sierra Leone’s vast mineral wealth. He pointed out that in 2024, gold production generated only $11.5 million in Government revenue; a stark contrast to iron ore and diamond revenues of $785 million and $102 million, respectively.
“This sector should be the breadbasket of our economy,” the Minister stated, underscoring the urgency for policy reform, transparent governance and investor accountability.
With an estimated 14,900 direct jobs tied to the mining sector, the Mines and Mineral Resources Minister called for a shift toward a merit-based employment model. He stressed the need to prioritize competence and skill over nationality, thereby empowering qualified Sierra Leoneans to lead and contribute meaningfully to the industry’s growth.
Highlighting FG Gold’s flagship Baomahun Gold Project, he described the ongoing construction as a beacon of progress and a template for large-scale, responsible mining. The project, which is expected to deliver its first gold pour between Q4 2026 and Q1 2027, is backed by a recently signed $330 million senior debt facility with the AFC, building on a $75 million Mezzanine Finance Agreement secured in 2024.
The project’s engineering and construction are being handled by Lycopodium Minerals Canada Limited, emphasizing the Government’s commitment to global standards and international best practices.
Julius Daniel Mattai used the platform to reaffirm Sierra Leone’s openness to investment, while cautioning that mining licenses would be revoked for entities that fail to meet regulatory and ethical standards. “We welcome partners who operate transparently and responsibly,” he said, reinforcing the Government’s zero-tolerance policy for non-compliance.
The Minister’s remarks painted a vision of Sierra Leone’s mining future rooted in strategic collaboration, local capacity building and sound governance. He emphasized the Government’s resolve to convert natural wealth into tangible improvements in the lives of its citizens.
As Sierra Leone strengthens its partnerships and expands its global presence, the message from London was clear: the country is ready to redefine its mining narrative; from underperformance to prosperity, from lost potential to national pride.
With continued commitment from Government and investors alike, Sierra Leone is charting a new course toward economic transformation through responsible and inclusive mineral development.
