sharing in governance of extractive industries
Most mineral deposits in Sierra Leone have not yet been identified. Therefore, most Industrial Mineral Rights issued are for exploration purposes. Unfortunately many exploration licenses have yielded the necessary investments in geological surveying required.
Under the new act, there is a threshold for minimum investments made per sq.km. This is an important aspect to monitor, else the license is potentially preventing other companies from doing proper exploration activities.
It has been hard for the Ministry to transition old licenses to the requirements of the new legal act. There are still 46 licenses under review.
Here is a demonstration of the industrial mineral rights in GoSL Online Repository
Hello and thank you for the video attachment as it provided very useful insight to the parameters of the agreement. My name is Steve Woodward and I am a research assistant for the West Africa Oil Watch.
Question: What would you like to see incorporated into the Mines and Minerals Act for Sierra Leone? Any regulations on investment or perhaps recommendations to the Minerals Advisory Board?
And thank you for your time!