The Minister of Mines and Mineral Resources, Julius Daniel Mattai, continues to set new benchmarks for Sierra Leone’s mining sector, breaking barriers and positioning the nation at the forefront of African mining investment. At the prestigious Investing in African Mining Indaba held in Cape Town, South Africa, Minister Mattai’s dynamic leadership once again attracted global attention, culminating in a landmark $40 million syndicated financing agreement between Ecobank Sierra Leone and Sierra Rutile Limited (SRL).
The historic agreement, formalised on 10 February 2026 with the support of Ecobank Ghana, will fund the transfer of a state-of-the-art mineral sands plant from Kenya to Sierra Leone. This strategic expansion is poised to boost the nation’s mining productivity, create sustainable jobs, and empower local communities.
Speaking at the signing ceremony, Minister Mattai remarked, “Today, we are not merely witnessing the signing of a financial agreement; we are affirming a shared vision of partnership, confidence, and long-term commitment to the people and economy of Sierra Leone.” He lauded Sierra Rutile Limited and Ecobank for assembling a facility of such scale and ambition, underscoring the growing confidence in Sierra Leone’s robust reforms and investment climate.
The Sembehun development is expected to deliver tangible benefits across the nation—generating quality jobs, supporting local entrepreneurs, and spurring progress in social infrastructure. “Beyond the numbers, this project is about people—our workers, our mining communities, and our young people searching for opportunity,” the Minister emphasised.
Under the steadfast leadership of President Julius Maada Bio, the sector’s reforms—including the Mines and Minerals Development Act 2022—have established Sierra Leone as a transparent, predictable, and investor-friendly destination. Minister Mattai stressed that today’s signing is a testament to this vision: “A major private investment proceeding within a clear legal framework, strong institutional oversight, and a shared commitment to Environmental, Social and Governance standards.”
Of particular pride is Sierra Rutile’s transformation into the first 100 percent Sierra Leonean privately owned large-scale mining company following its acquisition by LeonoilCompany Limited in October 2024. This milestone showcases the power and potential of local capital, expertise, and entrepreneurship in driving national progress.
The Minister applauded Ecobank’s commitment, noting, “Your decision to commit capital and expertise to this project is an expression of confidence not only in Sembehun’s viability, but also in our ongoing reforms and stability. When African banks and African mining champions work together, we deliver projects that meet global standards and uplift African prosperity.”
Addressing local communities, Minister Mattai reaffirmed the Government’s dedication to ensuring that the Sembehun Expansion Project delivers measurable benefits—jobs, business opportunities, and improved services—directly to Sierra Leoneans. He added, “Our goal is that when we speak of the success of Sembehun, we are also speaking of the success and dignity of the communities that host it.”
The event also featured remarks by Ecobank CEO Jeremy Awoyi, who described the deal as a landmark for local banking and a catalyst for economic growth, and Chairman of Sierra Rutile Limited, Ing. Tunde Cole, who highlighted the Sembehun Deposit as one of the world’s largest natural rutile reserves and a foundation for globally competitive, sustainable mining.
As Minister of Mines and Mineral Resources, Julius Daniel Mattai concluded the ceremony with a message of hope and ambition: “Today’s signing is more than a contract—it is a statement of faith in Sierra Leone’s future, in African capability, and in the power of partnership. Together, let us build a future where the minerals of Sierra Leone fuel not only global industry, but also the hopes, opportunities, and aspirations of every Sierra Leonean.”
With visionary leadership and steadfast commitment, Minister Mattai and the Government of Sierra Leone are ushering in a new era of responsible investment, sustainable development, and shared prosperity for all.
