Sierra Leone

Candidate country

Overview of Extractive Industries in Sierra Leone

Sierra Leone is rich in mineral resources. Diamonds, gold, bauxite, rutile, and iron ore are known to exist in large quantities, although geological studies have not yet mapped all the country's terrain, and may reveal additional mineral deposits. The rise of mineral prices in recent years has led to strong interest by international mining companies in Sierra Leone, resulting in a surge of new mining

licenses and exploration. The mining sector now contributes about 30% of the country's GDP, though the vast majority of this is artisanal, and is still illegal. There is also evidence of offshore oil and gas though this is, as yet, unexploited.

Mining is a focus of the reform agenda, and a review of mining contracts is being undertaken. The government is considering establishing a diamond-cutting and polishing industry in order to add value to exports.

Status of EITI Implementation

Sierra Leone was accepted as an EITI candidate country on 22 February 2008. Sierra Leone has until 9 March 2010 to undertake validation.

Sierra Leone announced its intention to implement EITI in the mining sector in June 2006. A steering committee was established including industry, government and civil society and an official launch on of the Sierra Leone EITI was held in June 2007. A workplan was agreed by the steering committee in February 2008.

Governance of EITI Implementation in Sierra Leone

The members of the steering committee include 6 Ministries and Government agencies, parliament, civil society, trade unions, the Chamber of Mines, and the media.