The Mines and Mineral Act (MMA, 2009) governs the mining sector, whilst the petroleum sector is governed by the Oil/Gas-Petroleum Exploration and Production Act (2011). The fiscal regimes for the extractive sectors are incorporated in the Income Tax Act (2000) (ITA) and its amendments, as well as the Finance Act (2017). The main fiscal tools in the mining sector are corporate income tax and mineral royalty. The main fiscal instruments in the upstream oil and gas sector are royalty and corporate income tax.
The government of Sierra Leone does not have a contract disclosure policy. Information on companies’ shareholding structures is now available in its on-line Mining Cadastre Administrative System (MCAS).However, both the Extractive Industries Revenue and SLEITI Bills have provisions and objectives which are intended to promote contract disclosure. The bills have not yet been passed into law.
The National Minerals Agency is the principal point of contact for the general public in all matters to do with mineral rights.The types of licenses issued include reconnaissance license, exploration license, small-scale mining license and large-scale mining license.
Sierra Leone has one of the best web-based cadastre systems in West Africa. The Mining Cadastre Administration System (MCAS) provides information on license holders, coordinates, application dates, and duration of licence in support of the NMA in the management of mineral rights. In addition to the MCAS, an online repository also provides information on (license) payments made during the year.