Before the formal launch of the National Minerals Agency (NMA) on Thursday, the Department for International Development (DFID) made a further £1.1m as support to the Extractive Industries Technical Assistance Programme (EITAP) being run by the World Bank.
In his keynote address and formal launching at the Miattia conference hall, President Koroma said that NMA is a professional industry Regulator that is a key part of his reform programme and Agenda for Prosperity.
The Agency, he said, will play a critical role in ensuring that the mining sector is of benefit to all Sierra Leoneans.
“The purpose of the establishment of the Agency is to ensure transparency and sustainable development in the sector and maximise revenues and other benefits to Sierra Leoneans from our rich mineral resources”, he said.
President Koroma said his administration is determined to make our mineral resources a strong force in ensuring that they play a key and fitting role in enhancing the living standards and employment prospects of all Sierra Leoneans.
He reiterated that “my government inherited a mining industry that was poorly regulated, that was why in my Agenda for Change, I directed the Minister of Mines and Mineral Resources to respond to this challenges by undertaking major transformation and management of the minerals sector”.
The President said there are many elements to this reform programme. “My government revised the key legislation pertaining to the mining sector by passing the Mines and Minerals Act of 2009 which legislates for the protection of communities; corporate social responsibilities; improved license management with cadastre office and many other elements meeting international best practices”.
He noted that “we are ensuring transparency in the sector by launching one of the world’s first online data bases of licenses and payments”.
President Koroma reiterated that to increase business and employment prospects in the diamond and gold industry, we introduced the Precious Minerals Trading Bill which provides for value adding services in Sierra Leone including gold melting and diamond cutting and polishing, due to be considered by Parliament.
Koroma maintained that good governance of the minerals sector is critical, adding that minerals are a core part of our future as a country.
Head of DFID Sierra Leone, Dr Phil Evans said that “the transparent and efficient management of Sierra Leone’s mineral wealth is crucial to the country’s future and a central building block of the new Agenda for Prosperity”.
He said that establishing the NMA was not easy task, as it required determination, political will, and a lot of first class technical work.
Dr Evans said that “we have contributed £1.3m over the past two years to support improved management of the minerals sector and to help set up the NMA”.
World Bank Senior Governance Specialist, Christopher C. Gabelle said the launching of the Agency is a key step of government transformation in the mineral sector.
EU Head of Section Politics, Press and Information, Lothar Jaschke commended the government for setting up the Agency and pledged their support.
NMA Board Chairman Moshe Robert assured that the Agency will be efficient and perform well.
Finance Minister, Dr Kefala Marah, said there is a need for accountability and transparency in the minerals sector. He thanked DFID for their further support to the minerals sector.
The Minister of Mines and Mineral Resources, Minkailu Mansaray who chaired the ceremony said that the Agency will continue to act in line with the Ministry’s policy and that its new building will be opened at Wilkinson Road after the ceremony.
By Abibatu Kamara