The ban slammed on Koidu Holdings by government has been lifted following a discussion with stakeholders.
A press release yesterday stated that, “in view of the strategic importance of this investment to our nation, Mr Beny Steinmetz, who is the sole shareholder of Koidu Holdings, Mr. Patrick Saada, the Vice Chairman and Mr. Jan Joubert, the Company’s CEO, paid a courtesy call to His Excellency, the President, the Vice President and the Honourable Minister of Mineral Resources at State House on Tuesday 20 May 2008.” The release went on: “as a result of the amicable consultation, Government is pleased to announce the immediate lifting of the suspension on the operations of the Company”.
“The Government of Sierra Leone would like to use this opportunity to reassure all foreign investors that it acknowledges the importance of direct foreign investment as part of our development strategy and that we fully support investors such as Koidu Holdings who have demonstrated commitment to the development of the company”, the release added. The operations of the company was suspended as a result of the incident at the Koidu Kimberlite Project in Koidu Town, Kono District, on the 13th of December 2007, the Government of Sierra Leone suspended the operations of Koidu Holdings and appointed the Jenkins-Johnston Commission of Inquiry to investigate the reasons for the civil unrest at Koidu Holdings’ operations.
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