Sierra Leone is rich in mineral resources. Diamonds, gold, bauxite, rutile and iron ore are known to exist in large quantities. Political stability has led to a revival of economic activity such as the rehabilitation of bauxite and rutile mining. Several offshore oil discoveries were announced in 2009 and 2010, but are yet to be developed.
The revenue from the sector is still relatively small at USD60m in 2013. As a consequence of the Ebola outbreak, many companies closed their offices in Sierra Leone and, in addition, as the outbreak coincided with falling commodity prices, several of the companies required to report were also faced with liquidity problems.
Sierra Leone published their latest EITI Report covering 2013 in February 2016. The report shows that their revenues for the oil, gas and mining sector before the crisis was already low, although the contribution to the economy grew from 1% in 2011 to 2.6% in 2013. Read more
On 15 September 2014, the EITI Board granted Sierra Leone an open-ended extension to the deadline for preparing the 2012 EITI Report due to the Ebola epidemic. Originally, the report was due 31 December 2014. The Multi-Stakeholder Group also submitted a deadline extension request for the 2013 EITI Report which was approved by the EITI Board.
The Board declared Sierra Leone EITI compliant on 26 April 2014 having addressed the remedial actions identified through their second validation in their 2011 EITI Report, which was published on 27 December 2013. Read more about the 2011 EITI Report.
In April 2014, the government published all re-negotiated contracts on the SLEITI web page, and all new ones are expected to go there in the course of 2014. In future, the online Minerals Cadastre Administration System (MCAS) will host all contracts and key license information such as fiscal terms and individual Community Development Agreements, as well as payments. The new version of MCAS has already included some information on beneficial ownership. In Sierra Leone, information on company ownership was already a requirement for industrial mining licenses and this information is now being digitised. There is considerable scope to integrate the EITI production and revenue data with the MCAS.
Second Validation report 2012 is available here.
- Through its Online Repository Sierra Leone has made revenues generated from mining companies accessible to its citizens. It contains all mining licenses and payments, published directly from the mining licensing system at the National Minerals Agency. This portal also includes data on licenses issued by the Forestry Department. It was launched in January 2012 and adopted by SLEITI in early 2014.
- The report includes a brief description of the legal framework, types of licenses and taxation applicable to the oil and gas, and mining sectors.
- The report includes the license register number of each company, information about the commodity explored/produced and details on equity ownership. Some companies have also reported on production.
- Planned use of EITI platform to include contract transparency (yet to be implemented).
The communications team at SLEITI worked with a group of blind people to produce the SLEITI Song.