This medium has been reliably informed that the African Finance Corporation (AFC), a conglomeration of Nigerian banks, is expected to take over the mineral deposits at the Marampa Mine Site in Lunsar in the PortLoko district.
The company which has shown interest in the exploitation of the country’s mineral wealth is independent, multi-lateral and private-owned.
AFC has grown to become one of the continent’s leading development finance institutions with around US$4.5 billion of assets under management.
The multi-lateral African Financial Institution provides expertise and risks its capital to address Africa’s infrastructural development needs.
Credible sources at SL Mining have revealed that AFC has been working with the Bio Government in the form of sponsorships including the current litigations against the Government of Sierra Leone in the US and the UK courts.
A Tweet from the AFC who were the key organizers of the just concluded 2020 Mining Indaba in Cape Town South Africa has revealed that their Chief Executive Officer and President Samalia Zubairu have hosted a reception in Cape Town on the sidelines of the MiningIndaba2020.
The event, according to AFC, was intended to introduce the company’s mining fund, which according to them, would focus on early-stage investment in the Mining Sector.
President Bio featured at the reception as the guest-of- honour of AFC.
It was also reported that the President used the occasion to discuss the extent of investment opportunities in Sierra Leone.
This development is overshadowed back home by a recent ejectment notice issued by the Attorney General and Minister of Justice.
The notice warrants all parties owning assets at the mine site to remove them on 20th February,2020 being the set deadline or would be charged USD 50,000 (Fifty thousand United States dollars).
The Notice was addressed to Timis Corporation and many other interests groups that have taken up various litigations against the Government of Sierra Leone over their assets at the Mines.
Government, through the Attorney General, has in a press release acknowledged that they are in three separate international arbitration courts with SL Mining in the US and the UK over the cancellation of their licenses.
The group has remained committed to developing and financing projects in the country’s core infrastructural sectors including energy, natural Resources (Oil and Gas, and minerals), Heavy Industry, Transport and Telecommunications.
African Finance Corporation Eyes Marampa Mine Site
