By Bockarie Kamara
Freetown – Sierra Leone exported minerals worth $1.2 billion in 2024, according to the Minister of Mines and Mineral Resources, Julius Mattai. He made this announcement during the weekly government press briefing held at the Miatta Conference Hall, Youyi Building, Brookfields, Freetown.
Providing a breakdown of the country’s mineral exports, Minister Mattai revealed that iron ore dominated the sector, accounting for 70% of total mineral exports. This amounted to approximately $785 million, primarily generated by Kingho Mining Company and Marampa Mines.
Diamonds were the second-highest contributor, representing 12% of exports, with an estimated value of $102 million. Of this, $20 million came from artisanal miners, while the remainder was generated by industrial operators such as Koidu Holdings. Gold exports contributed $11 million to the total mineral revenue.
Minister Mattai also highlighted a major development in the sector—the licensing of FG Gold, a large-scale gold mining company expected to generate over $300 million in annual exports. This marks a significant increase compared to the current $1 million in large-scale gold exports.
He further explained the structure of mining revenue in Sierra Leone, noting that tax-related revenues such as corporate income tax, withholding tax, GST, and customs/excise duties are managed by the Ministry of Finance and the National Revenue Authority (NRA). Non-tax revenues, including royalties and license fees, fall under the purview of the Ministry of Mines and Mineral Resources.
The minister called on Sierra Leoneans to actively participate in this year’s Mining Week, describing it as an important platform for showcasing the country’s mineral potential to the world. He emphasized that Sierra Leone is making significant progress in the mining sector, but much of it remains underreported, which undermines the nation’s global image.
“This is an opportunity to tell our story and attract more investment. The mining sector has the potential to transform our economy,” Minister Mattai stated.
