Sierra Leone's Mines and Minerals Act of 2009 aims to keep the benefits from its natural resources in the economy, local communities and the country.
The new law directly addresses health and safety, environmental protection, and community development and makes performance in all of these areas a condition for obtaining and keeping a mineral rights license. Regarding investors, áthe law provides security of tenure, encourages exploration by preventing companies from holding land under license for too long without demonstrable activities, and is clear and transparent about rights and obligations. As for the state, the law includes tighter rules for administrators, clearer application and reporting requirements for mineral rights holders, and rebalances fiscal benefits including higher royalty rates for precious stones and precious minerals.
To read the 2009 act in full, click on the image below: