Overview of Extractive Industries

Sierra Leone is rich in mineral resources. Diamonds, gold, bauxite, rutile, and iron ore are known to exist in large quantities, although geological studies have not yet mapped all the country's terrain, and may reveal additional mineral deposits. The rise of mineral prices in recent years has led to strong interest by international mining companies in Sierra Leone, resulting in a surge of new mining licenses and exploration. The mining sector now contributes about 30% of the country's GDP, though the vast majority of this is artisanal, and is still illegal.  There is also evidence of offshore oil and gas though this is, as yet, unexploited.

Mining is a focus of the reform agenda, and a review of mining contracts is being undertaken. The government is considering establishing a diamond-cutting and polishing industry in order to add value to exports.

Status of EITI Implementation

Sierra Leone was accepted as an EITI candidate country on 22 February 2008. 3 February 2010 Sierra Leone applied to extend their deadline for completing EITI Validation. The EITI Board agreed to grant Sierra Leone an extension. Peter Eigen sent a letter to the President conveying the Board's decision. Sierra Leone has until 9 September 2010 to submit a final Validation report to the EITI Board.

Sierra Leone announced its intention to implement EITI in the mining sector in June 2006. A steering committee was established including industry, government and civil society and an official launch of the Sierra Leone EITI was held in June 2007.  A workplan was agreed by the steering committee in February 2008. Work has begun on producing the first report.

Governance of EITI Implementation

The members of the steering committee include 6 Ministries and Government agencies, parliament, civil society, trade unions, the Chamber of Mines, and the media.

Chairman of the Steering Committee

Hon Joseph M Koroma 
Minister for Presidential and Public Affairs
Tel: +232 22 011 022

NEITI National Coordinator

Mr Joseph Kanu
Permanent Secretary,
Min. for Presidential & Public Affairs
Brothermsk [at] yahoo [dot] com (t)eksid25 [at] hotmail [dot] com

Companies operating*

Oil & gas companies: Repsol*, Woodside*, Tullow oil, Anadarko

Mining companies: Trivalence Mining, Target Resources, West African Diamonds, Sierra Rutile Ltd (owned by Titanium Resources Group)
* EITI Supporting Company

* Note: Company list based on EITI research and is not conclusive

For further information, please contact Eddie Rich in the EITI International Secretariat.