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Le20bn Community Development Agreement fund paid to Tonkolili residents

Indigenes of Tonkolili have received twenty Billion Leones as Community Development Agreement fund which is one percent of profits made by the Leone Rock Metal Group of Companies, name newly changed from Kingho Investment Company. The money was handed over on Thursday 30th March 2023 and witnessed by His Excellency President Bio on behalf of the government who facilitated the payment.

Speaking, President Bio affirmed that this payment displays the proper implementation of government’s policy and reforms in mining sector previously kept at bay by self-interests of the few over the many.

He informed the residents of beneficiary communities of Dansogoia, Sambaia, and Simiria Chiefdoms that this money received from Leone Rock Metal Group, will go towards community development enhancing projects to be determined by the people and government, based on needs prioritization.

President Bio furthered that between March 2021 to present, the company has exported more than 1 million tons of iron ore, as presented by financial books but he believes that beyond the books, the mining sector can adopt a compliant friendly infrastructure in relation to reporting and data collection.

Chief Executive Officer of the Leone Rock Metal Group of company, Gilbert Zhao, thanked the government and people of Sierra Leone and expressed hope to maintain the company’s commitment to pay 1% of revenue as an investment in community development projects and livelihoods.


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