Leone Rock Metal Group (LRMG), the parent company of Kingho Railway and Port, in an agreement that will go into force with the government of Sierra Leone promises immense benefits for the railline and port communities. As part of this agreement, a historic payment of 6 billion Leones annual surface rent and community development has been announced from 385 million Leones, signifying LRMG’s commitment to local empowerment and sustainable growth.
Aside from this, LRMG has consistently demonstrated its dedication to corporate social responsibility, investing over 2 billion Leones in various impactful projects across the country in 2022 alone. From January to October 2023, the company has already surpassed this amount and has plans to triple its CSR expenditure in the coming years. Notably, the reach of LRMG’s CSR initiatives extends beyond its primary host communities, benefiting over 40,000 Sierra Leoneans across the nation and the 6 billion surface rent and community development will not prevent its CSR projects across the country.
The company’s engagement with the media and belief in building strong media relationships was exemplified by LRMG’s sponsorship of the Sierra Leone Association of Journalists annual conference. Additionally, LRMG has extended its support to several noteworthy causes, including the Sierra Leone Parliament Committee on Sport, Hands off our Girls (founded by the First Lady), the Centre for Disability AIDS Advocacy Sierra Leone, Women in Agriculture, the Wilberforce fire victims etc.
Although LRMG primarily operates as a mining company, it recognizes the importance of prioritizing healthcare. As part of their commitment to community well-being, LRMG has rehabilitated three wards in the Segbwema Nixon Hospital in the East, ensuring improved medical facilities for the region. Furthermore, the company has also made significant contributions towards education by building schools and providing scholarships to deserving students. Their recent sponsorship of the Sierra Leone Premier League demonstrates LRMG’s support for sports development in the country.
The historic proposed payment of 6 billion Leones for surface rent and community development will undoubtedly provide significant economic benefits to the landowners and chiefdom stakeholders. This marks the first time in Sierra Leone’s history that a company has included a 5% annual increase in the funds allocated to communities. In another remarkable feat, LRMG became the first mining company for the second time to pay 1% of its total income to the community development fund for its operational communities in 2023, even before HE Bio assented to the revised law. LRMG’s contribution amounts to over 20 billion Leones, four times the amount paid in 2022.
LRMG’s achievements highlight their ethos of not merely making promises, but actively executing them for the benefit of all. As Sierra Leone continues to develop and progress, the significant investments and initiatives undertaken by LRMG set new corporate social responsibility standards and serve as a testament to the positive impact that responsible mining practices can have on communities and the nation.
Overall, when fully effected between LRMG and the government of Sierra Leone, this agreement will not only represent a milestone for the mining sector but also set an inspiring example for other companies to follow, showcasing the potential for sustainable development through proactive community engagement and responsible business practices.