By Shadrach Aziz Kamara
At the 2026 Sierra Leone Mining Week in Freetown, government officials, international investors, development partners, and commodity traders outlined an ambitious vision to transform Sierra Leone into one of Africa’s leading destinations for responsible mineral investment and transparent trade.
Moderated by mining governance expert Estelle Levin-Nally, the panel focused on how Sierra Leone can capture greater value from its mineral wealth while ensuring equitable development for communities, women, and artisanal miners.
The discussion brought together key industry voices including Mohammed Bah, Maximilian Hasold, Bunmi Akinremi, and Xavier Mazieres.
Opening the session, Estelle Levin-Nally described Sierra Leone as a country with “a strong platform for hope,” pointing to the growth of the gold sector, reforms in mining governance, and increasing international interest in responsible sourcing.
She emphasized that responsible sourcing and supply chain transparency must ultimately deliver value to host nations and local communities.
“There are pockets of misery and difficulty in our sector and we must not overlook that,” she said. “But Sierra Leone is showing what is possible when responsible investment meets political commitment.”
The panel repeatedly referenced the emergence of industrial gold mining operations such as FG Gold as a catalyst for economic transformation.
Speaking on behalf of the National Minerals Agency, Mohammed Bah outlined sweeping reforms introduced since 2022 to improve transparency and reduce smuggling.
According to Bah, Sierra Leone has:
Digitized mineral licensing processes through a mining cadastre system, Introduced chain-of-custody tracking for minerals, Strengthened export controls at Freetown International Airport, Implemented tamper-proof export documentation and Revised precious mineral tax structures to align with neighboring countries
One of the most significant reforms was reducing gold export duty from 3% to 1% under the 2024 Finance Act.
Bah said the move immediately increased formal gold exports.
“In 2023, Sierra Leone exported approximately 250 kilograms of gold,” he said. “Within just the first two quarters of 2026, we have already recorded 207 kilograms.”
He added that artisanal miners are now contributing nearly 37% of officially recorded exports, demonstrating growing formalization in the sector.
A major focus of the discussion was Sierra Leone’s emerging central bank gold purchasing initiative.
Bah revealed that the Bank of Sierra Leone has received cabinet approval to buy, store, and sell gold in partnership with the National Minerals Agency.
The initiative aims to: Increase foreign exchange reserves, Reduce gold smuggling, Formalize artisanal mining, Stabilize the national currency and Create jobs and improve community revenues
International trader Trafigura expressed strong support for the initiative.
Xavier Mazieres explained that Trafigura prefers working directly with governments rather than informal intermediaries because state-backed systems improve legality, taxation, traceability, and ESG compliance.
“We believe this is the best way to scale volumes while ensuring legality and responsible sourcing,” he said.
Mazieres also linked Sierra Leone’s plans to the World Gold Council London Principles initiative, which supports responsible central bank gold purchasing schemes.
German development agency GIZ stressed that formalization of artisanal and small-scale mining (ASM) remains the foundation for long-term reform.
Maximilian Hasold said Sierra Leone had made progress by lowering taxes and simplifying licensing procedures, but warned that formal systems must become easier and more profitable than informal ones.
“Being formal has to be easier than being informal,” he said.
GIZ is currently supporting economic studies comparing the costs and benefits of formal versus informal mining systems, including environmental and social impacts.
The agency is also working with anti-smuggling committees across border communities in Sierra Leone and neighboring Mano River Union countries.
Mining investor Bunmi Akinremi argued that transparency is not merely an ethical issue but a commercial advantage.
“Capital does not like noise,” he said. “When companies are not transparent, they end up telling too many stories.”
Akinremi said investors increasingly reward jurisdictions and companies that demonstrate openness, strong governance, and adherence to international standards.
He also highlighted the importance of women’s participation in mining, arguing that empowering women produces broader social transformation within mining communities.
While optimism dominated discussions on gold, Bah acknowledged serious concerns in Sierra Leone’s diamond sector.
Figures presented during the session showed: Artisanal diamond licenses dropped from over 1,200 in 2023 to 679 in 2025, Diamond export values have declined sharply and Competition from synthetic diamonds is affecting global demand
Bah noted that Sierra Leone continues to implement international standards such as the Kimberley Process and works with initiatives like GemFair.
However, he stressed the need for greater investment and stronger market incentives to revive the sector.
Audience members also raised questions about opportunities for women in geology and mineral science
Panelists welcomed the suggestion of targeted scholarships and technical training programs aimed at increasing female participation in the mining sector.
The discussion reinforced a broader theme emerging throughout Mining Week: that Sierra Leone’s mining future must be inclusive, transparent, and community-centered.
By the close of the session, panelists agreed that Sierra Leone is increasingly positioning itself as a credible destination for responsible mining investment in West Africa.
The combination of: Regulatory reform, Fiscal adjustments, Central bank gold initiatives, International partnerships, Community benefit-sharing mechanisms and Greater transparency
is helping build confidence among investors and development partners.
As Estelle Levin-Nally concluded:
“Sierra Leone is at a unique moment. You have a committed government, strong local structures, and international partners ready to support responsible trade and investment.”
