By Fatima Kpaka
The Parliament of Sierra Leone has ratified a large-scale mining agreement aimed at boosting economic development, following a debate held on Friday, March 27, 2026.
The agreement ratified was the Extractive Industries Fiscal Stabilization Agreement for Large-Scale Mining between the Government of Sierra Leone and Leone Afric Metals (SL) Limited, dated March 16, 2026.
Presenting the agreement, Minister of Finance Sheku Ahmed Fantamadi Bangura explained that the deal aligns with constitutional provisions and financial laws governing tax exemptions, negotiations, and state benefits. He highlighted the importance of parliamentary ratification to ensure transparency and accountability.
The Minister disclosed that the project involves the Kalangba lithium reserves in Kangi Hill, Bombali District, covering 80.4 square kilometres. The investment is estimated between USD 250 million and USD 309 million, with mining expected to commence in 2027. The company will be granted an exclusive licence by the Ministry of Mines and Mineral Resources. Production is projected at two million tons of lithium ore annually, with operations spanning 13 years and a broader scope of 25 years.
Bangura noted that the project will attract USD 200 million in foreign direct investment, create over 1,000 direct jobs, and significantly boost national revenue.
During the debate, Hon. Keikura C. Vandy, Chairman of the Parliamentary Finance Committee, expressed confidence in the agreement, emphasizing its potential to create jobs and reduce reliance on donor funding. He described the deal as non-controversial and urged colleagues to ratify it.
Hon. Mustapha Sellu from Moyamba highlighted the importance of renewable energy considerations within the agreement and stressed the need for strict monitoring of fuel importation. Hon. Musa Fofana from Kono praised the government’s 2022 Mines and Minerals Act, noting its prudence and benefits to the people.
Concluding the debate, Acting Leader of Government Business Hon. Bashiru Silikie underscored the importance of local content, cautioning against foreign investors sidelining Sierra Leonean companies. He urged the Minister of Finance to avoid mistakes of past agreements and ensure that current and future mining deals deliver maximum benefits to the nation.
The ratification marks a significant step in Sierra Leone’s efforts to harness its mineral wealth for sustainable economic growth and national development.