On the 8th of April, 2023, Leone Rock Metal Group (LRMG) commemorated the commencement of its remarkable processing facility with a capacity of 30 million tons per annum (MPTA) and heavy fuel oil power plant at the Tonkolili Mine site, thereby delineating a seminal occurrence in Sierra Leone's economic advancement.
This facility, capable of processing 10 million tons annually, significantly enhances the optimization of ore into a 66% iron concentrate, representing a substantial leap forward in the industry.
LRMG's strategic approach to vertical integration sets an unprecedented industry standard. Notably, Salim Sillah, the organization's Chief Technical Officer, emphasized the firm's rapid growth trajectory, exemplified by the recent inauguration of a $200 million 12 million tons processing plant and the ongoing investment of $500 million in the 30 million tons facility within a two-year timeframe.
The project has generated over 6,000 employment opportunities to date, with plans to expand to 15,000 by 2025, aligning harmoniously with President Bio's aspiration of creating 500,000 jobs by the year 2028.
The project holds immense promise in terms of royalties, fiscal revenue, and comprehensive development for the nation.
Julius Mattai, the Minister of Mines, lauded LRMG's exemplary integrity and success, emphasizing the company's positive impact on the national economy, as evidenced by the successful export of $800 million worth of iron ore in collaboration with MML.
The Vice President of Sierra Leone, Dr. Alhaji Mohamed Juldeh Jalloh, commended LRMG's dedication and investments, acknowledging its pivotal role in advancing Sierra Leone economically and socially.
The Tonkolili Iron Ore project positions Sierra Leone as a global player in the industry, enhancing its economic prospects and enriching its human capital through collaborative endeavors.
The inauguration of LRMG's processing plant marks a momentous milestone toward a brighter future for Sierra Leone and its people, as the local community, government officials, and stakeholders converge to celebrate this significant achievement.