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The Mineral Wealth Fund, through the Sierra Leone Mines and Minerals Development and Management Corporation (SLMMDMC) has signed a landmark Land Lease Agreement with the people of Diang Chiefdom in Koinadugu District. The agreement, finalized on Thursday, 21st August 2025, seeks to promote sustainable mining operations to ensure tangible benefits for the host communities and the Government of Sierra Leone (GoSL).

The SLMMDMC, established by law, serves as the statutory vehicle for advancing mining development on behalf of the state, including launching new ventures and facilitating private sector participation.

Speaking at the signing ceremony held in Kondembaia, the headquarters of Diang Chiefdom, the Minister of Finance Sheku Fantamadi Bangura, who led the government delegation, disclosed that His Excellency President Dr. Julius Maada Bio mandated the high-powered team to engage Paramount Chiefs and landowners in both Koinadugu and Tonkolili districts for the signing of land lease agreements.

He explained that following approval by the Ministry of Mines and Mineral Resources, the agreements would pave the way for mining operations in the two districts, create job opportunities for young people, strengthen community development projects, and boost national revenue generation.

The Finance Minister stressed the importance of landowners giving consent through their Paramount Chiefs before the utilization of their lands, adding that the lease would also attract potential investors.

Minister Bangura urged the people to work in unity with the government to transform the development outlook of the chiefdom. He highlighted the SLMMDMC’s mandate to identify credible investors for the benefit of host communities and the country at large.

According to Minister Bangura, the government has already secured partners who will establish an iron ore plant, railway, and port within a year to enhance Sierra Leone’s export capacity and national wealth.

He lamented the deplorable road conditions from Kabala to Diang and assured residents that the road project would be included in the 2026 national budget.
The Minister reiterated that the development of Diang Chiefdom could only be realised through the Government of Sierra Leone.

Paramount Chief Sheku Koroma Magba III of Diang Chiefdom welcomed the government delegation and described the lease agreement as a milestone. He recalled meeting with President Bio alongside other Paramount Chiefs at State House to deliberate on the agreement, emphasizing that while chiefs may sign the lease, final approval for land utilization rests with the government. He expressed gratitude to President Bio for according him respect as a traditional leader in key national discussions on mining.

Chairman of the Parliamentary Mines Committee, Hon. Sahr Emerson Lamina, informed the gathering on the mandate of the SLMMDMC and the provisions of the Mines and Minerals Act 2022 (as amended). He explained that the lease guarantees fair compensation and community participation. Hon. Lamina praised President Bio’s vision in reforming mining laws to benefit host communities, noting that the share for landowners in surface rent had increased from 50% to 70%, while Paramount Chiefs, District Councils, and Members of Parliament would each receive 10%. He urged the people to uphold peace and cooperation, warning that investors would avoid conflict-prone areas.

Solicitor-General Robert Kowa, Esq. from the Office of the Attorney General and Ministry of Justice disclosed that the lease agreement runs for 49 years with the possibility of a 25-year extension. He added that the annual surface rent stands at $76,000, subject to review every five years, and outlined the rights and obligations of landowners under the agreement.