Under the High Patronage of His Excellency Ernest Bai Koroma President of the Republic of Sierra Leone the inaugural Sierra Leone International Mining and Petroleum Exhibition and Conference (SIMEC 2014) will take place from 07 – 09 May 2014, at the newly refurbished Bintumani International Conference Centre in Freetown. The event is organised by the Ministry of Mines and Mineral Resources and AME Trade Ltd.
SIMEC 2014 is a turnkey event focusing on Sierra Leone’s mining and petroleum potential. It will feature three days of conference sessions, a trade exhibition, round table discussions, seminars as well as mine site visits.
The main theme of SIMEC 2014 is
“Sierra Leone’s Mining & Petroleum Industry: The Catalyst for moving forward the Agenda for Prosperity”
What is the Agenda for Prosperity?
The Agenda for Prosperity is Sierra Leone’s principal development plan for 2013 – 2035.
“Sierra Leone’s Vision for 2013 to 2035 is to become a middle-income country. It would be an inclusive, green country, with 80% of the population above the poverty line. It would have gender equality, a well-educated, healthy population, good governance and rule of law, well-developed infrastructure, macroeconomic stability, with private-sector, export-led growth generating wide employment opportunities; there would be good environmental protection, and responsible natural resource exploitation”
Why invest in Sierra Leone’s extractive industries?
- Peace and Stability for more than a decade with three (3) democratic, free and fair elections
- A rapidly growing economy with GDP growth up from 6% in 2011 to 16.7% in 2012
- Richly endowed with a diverse portfolio of mineral potentialities including: chromite, iron ore, nickel, copper, platinum, gold, diamonds, bauxite, rutile, ilmenite, zircon and rare earth elements ( columbite, tantalite “coltan”). However it is one of the most unexplored mining destinations in West Africa.
- An improving government administration aimed at assisting the investor. The National Minerals Agency Established in 2012. They are responsible for certificating gold and diamonds as well as the collection and storage of all geological information including mapping and geosciences. State of the art mining cadastre system is now fully operational. Sierra Leone operates within the Kimberley Process.
- A new Mines and Minerals Act established (2009) which aims to promote: health & safety, community development, environmental protection, to prevent companies from holding licenses for too long without demonstrable activities and to tighten general rules for administrators and mineral rights holders (greater reporting and transparency etc.)
- Numerous opportunities for companies involved in: technology transfer, training and infrastructure solutions to partner with Sierra Leonean entrepreneurs and to create a capable indigenous mining services and supply chain.
- Major producing mines already in operation, iron ore ( Tonkolili African Minerals, Marampa London Mining) rutile ( Sierra Rutile), bauxite ( Vimetco), diamonds ( Octea/Koidu Holdings)
- Promising mining exploration results and new potentialities:
- Diamonds: Lake Popei, Kamakwie and Kabala
- Coltan: Valunia chiefdom (Bo district), Sella Limba (Bombali district) and the Bumbuna area.
- Gold: Baomahun (2.24 Moz of indicated mineral resources), Nimini-komahun ( project and the Matotoka Project (521,000 oz of gold and inferred resource of 263,000 oz)
- In totality according to the cadastre there are: 186 Exploration Companies, 12 Small Scale Mining Companies and over 200,000 Artisanal Miners in Sierra Leone
- Sierra Leone set to be an oil and gas producer in the not too distant future
- Seismic interpretation of the 2D and 3D data has been proven by the Venus-B1, Mercury-1 and Jupiter-1 discovery wells.
- A review of the regional geological and well-derived data, combined with the results of the seismic interpretation work of this and other published studies, suggests that all the elements of a working petroleum system are present, proven from the seismic and recent drilling
- Opportunities for investment exists for open blocks, Farm-ins, support services and equipment supply