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Hon.  Bockarie says proposed amendment of Sierra Rutile Limited agreement with government will enable stability in the mining sector

The Honourable Fatmata Bintu Bockarie, Member of Parliament for the Southern Region, Bonthe District, representing the Sierra Leone Peoples Party (SLPP), and Deputy Chairperson of the Parliamentary Mines and Mineral Resources Oversight Committee, during an interview with Parliamentary Journalists expressed her current support for the proposed amendment between Sierra Rutile and the Government, believing that its completion will enable the company to achieve stability.

While acknowledging that she would refrain from commenting extensively on the takeover issue until the report's release, Honorable Bockarie positively assessed SRL's performance in her District, highlighting that the one percent payment that other communities have benefited from under the new laws and expressed her optimism that SRL is working towards its implementation.

This interview was conducted following the tabling of the First Session report entitled "An Inquiry into the operations of Mining Activities and Implementation of Community Development Agreement (CDA) Funds in some Mining Communities in Port Loko and Kono Districts from 24th- 25th March, 2024," by the Committee Chairperson, Honorable Saa Emerson Lamina.

It is noteworthy that Sierra Rutile and the Government of Sierra Leone have been engaged in negotiations since May 2023 regarding a new fiscal regime for Area 1 under a third amendment agreement. In January, the company issued a suspension notice after the Government indicated a reversion to the extant November 20th, 2001 agreement due to concerns about the economic viability of the company's operations.

Amid speculations of an unsolicited US$30m takeover bid for Sierra Rutile Limited by Craig Dean, trading as PRM Services, which has generated controversy, the company reported an annual profit of US$75M from its operations in 2023.

recently stated her belief that Sierra Rutile Limited (SRL) is effectively serving the interests of her constituents.


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