SL Mining to suspend iron ore mining in Sierra Leone
2019-09-24 09:56:20 [Print]
SL Mining, a subsidiary of U.S. commodity trader Gerald Group, will suspend iron ore mining operations in Sierra Leone over a dispute with the government about royalty payments, according to a company letter on September 20.
SL Mining filed for arbitration last month in an international court against Sierra Leone's government after authorities imposed a ban in July on exports from the company's Marampa mine.
The government says the company has failed to maintain the mine's agreed work schedule or make royalty payments. SL Mining denies the accusation.
"The company is disappointed and concerned that the government appears unwilling at present to seriously engage or commit to any process with a view to resolving the unlawful and indefinite export ban," said a Gerald Group spokeswoman.
SL Mining estimates that Marampa holds about 1 billion tonnes of iron ore with a potential lifespan of 30 years.
SL Mining filed for arbitration last month in an international court against Sierra Leone's government after authorities imposed a ban in July on exports from the company's Marampa mine.
The government says the company has failed to maintain the mine's agreed work schedule or make royalty payments. SL Mining denies the accusation.
"The company is disappointed and concerned that the government appears unwilling at present to seriously engage or commit to any process with a view to resolving the unlawful and indefinite export ban," said a Gerald Group spokeswoman.
SL Mining estimates that Marampa holds about 1 billion tonnes of iron ore with a potential lifespan of 30 years.
