Amidst mounting pressure, Sierra Leone has finally launched a new government agency charged with regulating its potentially lucrative mining sector.

The National Minerals Agency (NMA) will implement mining policies as devised by the Mines and Mineral Resources ministry.

 

Last week’s launch came a year after the government unveiled the idea, and it is partial fulfillment of President Ernest Bai Koroma`s election campaign promise to boost mining revenue which has been uninspiring despite reported a boom in the sector.

Crucially, the new agency is expected to recommend changes to existing contracts which are causing ceaseless debate over the management of proceeds from mining.

NMA becomes operational as Sierra Leone faces the threat of being delisted from the Extractive Industry Transparency Initiative (EITI), a global mining transparency body, over its lack of clarity in the management of mining proceeds.

“The Agency will play a critical role in ensuring that the mining sector is of benefit to all Sierra Leoneans,” said President Koroma.

Amidst mounting pressure, Sierra Leone has finally launched a new government agency charged with regulating its potentially lucrative mining sector.

The National Minerals Agency (NMA) will implement mining policies as devised by the Mines and Mineral Resources ministry.

Last week’s launch came a year after the government unveiled the idea, and it is partial fulfillment of President Ernest Bai Koroma`s election campaign promise to boost mining revenue which has been uninspiring despite reported a boom in the sector.

Crucially, the new agency is expected to recommend changes to existing contracts which are causing ceaseless debate over the management of proceeds from mining.

NMA becomes operational as Sierra Leone faces the threat of being delisted from the Extractive Industry Transparency Initiative (EITI), a global mining transparency body, over its lack of clarity in the management of mining proceeds.

“The Agency will play a critical role in ensuring that the mining sector is of benefit to all Sierra Leoneans,” said President Koroma.

Amidst mounting pressure, Sierra Leone has finally launched a new government agency charged with regulating its potentially lucrative mining sector.

The National Minerals Agency (NMA) will implement mining policies as devised by the Mines and Mineral Resources ministry.

Last week’s launch came a year after the government unveiled the idea, and it is partial fulfillment of President Ernest Bai Koroma`s election campaign promise to boost mining revenue which has been uninspiring despite reported a boom in the sector.

Crucially, the new agency is expected to recommend changes to existing contracts which are causing ceaseless debate over the management of proceeds from mining.

NMA becomes operational as Sierra Leone faces the threat of being delisted from the Extractive Industry Transparency Initiative (EITI), a global mining transparency body, over its lack of clarity in the management of mining proceeds.

“The Agency will play a critical role in ensuring that the mining sector is of benefit to all Sierra Leoneans,” said President Koroma.

https://www.africareview.com/Business—Finance/-Sierra-Leone-launches-National-Minerals-Agency/-/979184/1716814/-/108m7cpz/-/index.html

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