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Claim: Sierra Leone’s First Lady, Fatima Maada Bio, had an interview with the Studio at Harvard T.H. Chan School of Public Health on the 21st of March, 2024. She claimed that “all mining companies in Sierra Leone are foreign-owned.” The claim resurfaced recently.
Verdict: Misleading. Foreign entities dominate Sierra Leone’s large-scale mining sector. However, there is significant local participation in artisanal and small-scale mining (ASM), while the government is also involved in various mining ventures in the country.
Full Text
A video of Sierra Leonean First Lady Fatima Maada Bio has gone viral online. In it, she claims that all mining companies in Sierra Leone are foreign-owned.
The video was posted on the YouTube channel of African Diaspora News Channel (ADNC), which has 1.89 million subscribers. Although the video was posted there over a year ago, it has resurfaced on various social platforms, including Facebook and LinkedIn, as seen here, here and here.
The video has been trending recently after Koidu Mining Limited accused Mrs Bio of political interference in the country’s mining sector. She has been allegedly inciting labour unrest and shutting down mining activities, the Sierra Leone Telegraph reported.
On May 10, 2025, Octea Limited, the parent company of Koidu Limited – the largest diamond mining company in the country- says it may take legal action against Fatima Bio. They state their reasons for the damage being done to the company’s activities. This includes “a pattern of unlawful, defamatory, and malicious statements and actions attributed to your conduct that have caused severe and ongoing damage to the Company, its affiliates, personnel, stakeholders, and Octea, the parent of Koidu.”
The company is also accusing and holding the president’s wife responsible for sabotaging the country’s already broken economy.
“As a direct result of your intervention, thousands of jobs of Sierra Leonean workers are now in jeopardy, the country will forgo millions of US dollars in much needed revenues, taxes and royalties, the central bank’s foreign currency reserves will severely deplete, local suppliers will not be able to offer their goods and services to the mine, impacting thousands of individuals who are dependent on business generated by the Koidu mine.
“The initiating of illegal strike action, which has resulted in the immediate halting of operations of one of Sierra Leone’s largest foreign direct investors, underlines the country’s precarious position regarding its desire to attract the investment it needs from foreign investors, particularly when such actions are endorsed and visibly supported by those who are seen as part of, if not proximate to, the government of Sierra Leone. The macroeconomic consequences of your actions will have severe repercussions for years to come and are potentially devastating for Sierra Leone,” the media report stated.
Screenshot of the YouTube video where the Sierra Leonean First Lady, Fatima Maada Bio made the claim. Source: African Diaspora News Channel Podcast
Our researcher decided to fact-check the claim allegedly behind the case, that all mining companies in Sierra Leone are foreign-owned.
Verification
Our researcher had to look into mining ownership in the country to verify the claim.
Understanding mining ownership in Sierra Leone
Sierra Leone’s mining industry consists of both large-scale operations, which require significant investment and technology, and artisanal and small-scale mining (ASM), which predominantly involves locals.
According to the Extractive Industries Transparency Initiative (EITI), Sierra Leone has a substantial mining sector, primarily driven by the large-scale production of iron ore, diamonds, rutile and bauxite. It also hosts small-scale and artisanal mining of gold and diamonds. A 2022-2023 EITI report published in December 2024 noted that Sierra Leone is rich in natural resources and, in particular, minerals which include diamonds, rutile, bauxite, gold, iron ore, limonite, platinum, chromite, coltan, tantalite, columbite and zircon.
Similarly, a World Bank 2009 document indicates that there are four large scale mining projects in Sierra Leone – diamond operations by Koidu Holdings and African Minerals, formerly known as Sierra Leone Diamond Corporation; the rutile operation of Sierra Rutile Limited which resumed its operations in 2006 with support from a European Union credit, and a bauxite operation lead by Sierra Mineral Limited.
Several industrial-scale exploration licenses are active, with some preparing for mining operations and several explorations for bauxite. It is estimated that large-scale mining and quarrying presently provide a livelihood for up to 300,000 people, and employ about 14% of the total labour force, directly or indirectly. Between 100,000 and 300,000 artisanal and small-scale (ASM) miners also exist. Thus, considering the dependents of ASM miners, between 1 and 2 million people are dependent on mining.
Largest mining sites in Sierra Leone
The five largest mines in Sierra Leone, that is Tonkolili Mine, Sierra Rutile Mine, SML Bauxite Mine, Koidu Project, and Pampana River Project, according to Global Data, cumulatively produced approximately 27.65 million metric tons per annum (mmtpa) of Run-of-Mine (ROM) in 2021.
For instance, Tonkolili Mine in the Western Area, owned by the Chinese Kingho Energy Group Co Ltd, was the largest mine in Sierra Leone, producing approximately 15.17 mmtpa of ROM in 2021. The second largest mine, located in South Province, produced approximately 8.99 mmtpa of ROM and primarily rutile (121.07 thousand tonnes). The Government of Sierra Leone and Iluka Resources Ltd, an Australian-based company, own the Sierra Rutile Mine.
Similarly, the SML Bauxite Mine located in South Province was the third-largest mine. The Koidu Project in Eastern Province was the fourth-largest mine, and the Pampana River Project in Northern Province was the fifth-largest mine. The mines have an estimated ROM production of 1.81 mmtpa, 1.11 mmtpa and 0.58 mmtpa, respectively, in 2021. While the SML Bauxite Mine is owned by Vimetco NV (a Netherlands-based company), the Koidu Project is owned by BSG Resources Limited and the Pampana River Project is owned by Sunergy, Inc., data revealed.
Foreign ownership in large-scale mining
Our researcher searched online for the beneficial ownership of some mining companies operating in Sierra Leone. According to data retrieved from the official website of the Sierra Leone Extractive Industries Transparency Initiative (SLEITI), some of the beneficial owners are from China, France, Israel, USA, and Switzerland, while a Sierra Leonean, Ibrahim Sorie Kamara of Germinate (SL) Limited, owns 10.5% in Meya Mining Ltd. See the chart below for detailed information about their beneficial owners and nationalities.
Local ownership in Sierra Leone’s mining sector
While comprehensive data on the exact number of locally owned mining companies is limited, it’s important to note that Sierra Leone’s mining industry includes significant participation from local stakeholders, particularly in artisanal and small-scale mining (ASM). These operations are predominantly undertaken by Sierra Leonean nationals and play a crucial role in the country’s economy.
The nation’s mining sector also attracted the participation of local mining companies, according to the Sierra Leone EITI Report for 2022 – 2023, which was published in December 2024.
For instance, a Sierra Leonean-registered company, Kasila Mining & Engineering Services, owns 50% of Kasino Mining Company, while the remaining 50% is owned by Hesino Minerals & Trade Company Ltd (a Chinese company). Also, Leone Minerals (SL) Limited, legally registered in Sierra Leone, owns a 45% stake in Jong Minerals Company Ltd. Another company with the government’s 10% stake is Marampa Mines Limited, operated by the British-owned Gerald Group.
As of May 2025, Sierra Leone has 45 registered mining companies, encompassing both local and foreign-owned entities. According to Rentech Digital, this figure reflects a 4.65% increase from 2023, indicating growth in the sector.
The Sierra Leone Investment and Export Promotion Agency (SLIEPA) Business Service Directory corroborated the above figure. It detailed the list of the 45 mining companies operating in Sierra Leone in 2025, including their contact information and office addresses. According to SLIEPA, these companies are registered and operate within Sierra Leone, contributing to the diversity and development of the nation’s mining sector.
Similarly, the Ministry of Mines and Mineral Resources (MoMMR), a state agency, provides resources, including more comprehensive data and updates on mining operations and ownership structures in Sierra Leone. According to the agency, it oversees the management of mineral resources in the country and offers further insights into the composition of local and foreign-owned mining enterprises.
The government’s stake in mining operations
The Sierra Leonean government holds minority stakes in a few mining companies. For instance, in Marampa Mines Limited, the government holds a 10% stake as part of an agreement with Gerald Group, a British company that mines iron ore in the country.
Conclusion
The claim that “foreigners own all mining companies in Sierra Leone” oversimplifies the ownership of the country’s mining sector. While foreign entities dominate large-scale mining operations, local players are significantly involved in artisanal and small-scale mining, contributing to the nation’s economy and providing employment for many Sierra Leoneans. Additionally, the government holds minority stakes in some ventures (such as Marampa Mines) while a very few Sierra Leoneans, like Ibrahim Sorie Kamara (a co-beneficial owner of Germinate (SL) Limited), are also players in the mining sector, reflecting a mixture of local and foreign participation. It is crucial to approach such assertions with nuance, emphasising the diverse ownership structures and fostering constructive dialogue about how the nation’s resources can best serve its people.
