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Vol 52 No 13

Published 24th June 2011

Sierra Leone

Feast ore famine

The Tonkolili iron-ore mine looks set to make a billionaire of Frank Timis but the dividend for the nation is less sure

Sierra Leone will start earning hundreds of millions of dollars from taxes when iron-ore production begins in November. At least that is what the controversial British-based mining entrepreneur Vasile Frank Timis, owner of African Minerals Limited (AML), told the Sierra Leonean government. Prospects for the mine have improved now that China’s Shandong Iron and Steel Group (SISG), whose involvement was still uncertain, announced on 1 June that it was finalising terms on its US$1.5 billion investment (AC Vol 51 No 25, Iron constitutions required).

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