Sierra Leone Secures USD 65 Million in Mining Investments at Africa’s Premier Indaba.

Sierra Leone has secured USD 65 million in new mining investments during the 32nd Investing in African Mining Indaba, marking one of the nation’s most successful showings at the continent’s flagship extractives forum that took place between 9-12 February 2026, in Cape Town, South Africa.

On opening day, February 9, 2026, Ecobank signed a USD 25 million financing facility with Meya Mining Company. Deal accelerates transition to full commercial diamond production in Kono District. Projected outcomes include over 400 direct jobs and thousands of indirect roles. Ninety percent of employment opportunities will benefit Sierra Leonean citizens.

February 10, 2026, brought a second landmark agreement. Ecobank and Sierra Rutile Limited finalized a USD 40 million deal, funding the relocation of a state-of-the-art mineral sands plant from Kenya to Sierra Leone. Expansion targets significant boosts to national mining productivity, sustainable job creation, and community empowerment frameworks.

Minister Julius D. Mattai characterized the USD 40 million signing as far more than a financial transaction. The ceremony witnessed an affirmation of partnership, confidence, and enduring commitment to Sierra Leone’s economy and people. Mattai emphasized the investment reflects surging international confidence in Sierra Leone’s mining sector reforms.

Minister Mattai spotlighted Sierra Rutile Limited’s historic evolution. October 2024 acquisition by Leonoil Company Limited established the firm as Sierra Leone’s first 100 percent privately owned large-scale mining enterprise. Achievement stands as a compelling testament to the strength of local capital and homegrown entrepreneurial vision.

Ecobank CEO Jeremy Awoyi and Sierra Rutile Chairman Ing. Tunde Cole addressed the signing ceremony. Both described the transaction as a catalyst for sustained economic growth. Cole underscored Sembehun Deposit’s exceptional status among the world’s largest natural rutile reserves, reinforcing Sierra Leone’s strategic position within global mineral supply chains.

Sierra Leone’s Indaba delegation comprised senior Ministry officials, Members of Parliament, and National Minerals Agency representatives. Robust government presence underscored the mining sector’s centrality to the national development agenda.

Ministry of Mines and Mineral Resources confirmed the nation's firmly positioned trajectory. As Indaba proceedings continue, Sierra Leone projects growing influence across Africa’s mineral development landscape.

Senior Correspondent: Ramdul S. Kargbo

Email: ramdulkargbo@gmail.com

Tel: +232 74038847