On January 24, 2025, President Julius Maada Bio of Sierra Leone presented a symbolic cheque of $3.7 million to the Marampa and Maforki Chiefdoms. This payment represents their 1% Community Development Fund (CDA) from Marampa Mines Limited for the fiscal years 2023 and 2024.
The event also marked the commissioning of Marampa Mines' expanded production capacity, now reaching 3.75 million tonnes per year of high-grade iron ore. This expansion highlights Sierra Leone's capacity to attract and sustain investment in its mining sector.
President Bio expressed appreciation for Marampa Mines Limited's contributions to Sierra Leone’s economy and community development. He praised the efforts of the Minister of Mines and Mineral Resources, local authorities, and Paramount Chiefs for their oversight role.
He emphasized corporate social responsibility's importance in empowering host communities through human capital development. “Human capital development, especially skills training, is a great enabler for upward social and economic mobility," President Bio stated.
The CDA fund negotiated by his government ensures local communities benefit directly from mining resources. "I am here to hand over the dummy cheque of $3.7 million... as payments for the 2023 and 2024 CDA fund to the people," he said.
Madam Patricia Nikolopoulos, Chief Financial Officer of Gerald Metals, spoke on behalf of Craig Dean, CEO of Marampa Mines Limited. She thanked President Bio for fostering an investor-friendly environment despite global challenges like fluctuating iron ore prices.
Nikolopoulos highlighted a $200 million investment in new equipment at Marampa Mines aimed at boosting production capacity and efficiency. “The expansion to 3.75 million tonnes per year... reflects the hard work... that have brought us and the government together,” she affirmed.
In related events on January 24th in Makeni, Bombali District, President Bio participated in celebrating Annual Education Week at the University of Makeni.
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