Koidu Limited one of the biggest and reliable mining companies in Sierra Leone has on Friday 10 February 2023 paid the total sum of NLe1,559,732,19 as surface rent to beneficiaries to the land they occupy doing their mining activities in Kono District.
The rent is cascaded to include the following beneficiaries: to the Constituency Development Fund, Koidu Limited allocated 10% which is equivalent to NLe155,973.22; Koidu District Council was allotted 5%, which translates to NLe77,986.61; to the Koidu New Sembehun Council was allotted 10%, equalling NLe155,973.22.
The surface rent paid by Koidu Limited also impacted PC Paul N. Saquee V, who received 15%, equivalent to NLe233,959.83; to the Tankoro Chiefdom was given 10% of the allotted funds, which equalled the sum of NLe155,973.22 and; ending with the Tankoro Administration – Land Owning Families, that received 50% of the rent, totalling NLe779,866.09, for a grand total of NLe1,559,732.19.
This annual payment of surface rent by Koidu Limited, according to Mr Turay, Head of Corporate Affairs, is pursuant to not only the mining laws of Sierra Leone but also to international best practice relative to empowering communities where mining interest operate to encourage sustainable development in these locales.
The beneficiaries we spoke to were very pleased with Koidu Limited and say the company continues to inhabit a very special place in their hearts as the company always comes out on time to pay their surface rent. They hope this will continue and other mining interests will follow suit.