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HomeEconomyKINGHO PAYS LE 400M SURFACE RENT TO MINING COMMUNITIES IN TONKOLILI

KINGHO PAYS LE 400M SURFACE RENT TO MINING COMMUNITIES IN TONKOLILI

Pursuant to the requirement for the grant of a Large-Scale Mining License and in relation to Kingho Mining Company Limited’s obligation prescribed in Section 34(a) of the Mines and Minerals Act 2009 for surface rent, the Company has today Thursday 1st July 2021,  paid a total of four hundred million Leones (400,000,000) to mining communities in Tonkolili District, Northern Province of Sierra Leone.

The event which took place at the Tonkolili District Council, in Magburaka Town, saw stakeholders from the three (3) iron ore mining chiefdoms of Dansogoia, Sambaia and Simiria converged to receive their money from the company’s staff.

During the event, Madam Judith Kosseh, Director of Community Affairs, Kingho Investment Company Limited said that the company is a community company and will always fulfill its obligations to the people of the operational communities. She said, that is what prompted the company to come and honour its financial obligations by paying the surface rent.

Whilst giving a breakdown of the sum, Director Judith said Simiria Chiefdom will receive the sum of one hundred million Leones (Le100,000,000), Sambaia Chiefdom will receive another sum of one hundred million Leones (Le100,000,000), whilst Dansogoia Chiefdom will receive sum of two hundred million Leones (Le 200,000,000) all to be shared in the following sequence: Landowners 50% , Paramount Chiefs 15%, District Council 15%, Chiefdom Administration 10% and Constituency Development Fund 10%.

Responding to the payment, Honourable Rose Marie Bangura of Constituency 055 covering Simiria and Dansogoia chiefdoms thanked the company for honouring their obligation. She called on the landowners to utilize the money properly and to also use the money for development projects that will further empower their communities. She said aside from the payment of the surface rent, the company should also look into other areas like skill trainings in their respective communities.

Whilst giving his vote of thanks on behalf of the people in the mining communities, Paramount Chief Alimamy Bockarie Yallan Koroma of Dansogoia Chiefdom said the payment of the surface rent shown that Kingho is sensitive to its obligations. He called on the company to do some minor local rehabilitation to the road leading from Magburaka to Bendugu Town in Sambaia Chiefdom. He thanked the company and played that the relationship between the company and the people continue to bolster.

Note:

Kingho Mining Company Limited is a subsidiary company of Kingho Investment Company Limited. Kingho Mining is undertaking mining at the New Tonkolili Iron Ore Mines in Sambaia, Dasogoia and Simiria chiefdoms of Tonkolili District, Northern Province of Sierra Leone. It was the Government of Sierra Leone which officially handed over the New Tonkolili Iron Ore Mining site to Kingho Mining Co Ltd on 23rd September 2020.

For more enquiries contact:

The Public Relations and Media Unit,

Kingho Investment Company,

abdul.malik.bangura@khgroupsl.com +23277227804  / +23278146488

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