Press Release May 05, 2022
United States Mission in Sierra Leone
Public Affairs Office
Contact: Alhassan Jalloh
U.S. Embassy Welcomes Major Expansion of U.S. Company’s Investment at Marampa Mines
Lunsar, Port Loko – The U.S. Embassy attended a commissioning ceremony today commemorating the major expansion of the Marampa Mines Ltd. Project in Lunsar, Port Loko District. This expansion is the result of the U.S. company Gerald Group’s new commitment to materially increase production at the Marampa mining site. Sierra Leonean President Julius Maada Bio attended the ceremony and formally commissioned the project.
“We are delighted to welcome this major U.S. private sector investment in Sierra Leone,” said U.S. Embassy Charge d’Affaires Elaine French at the event. “I am also happy that all parties have resolved past disputes and are now committed to working together for the benefit of the company and the economy of Sierra Leone,” added Charge French.
Gerald Group, a global metal trading company with a 95 percent U.S. ownership, has a 90 percent stake in Marampa Mines. The Government of Sierra Leone has a permanent share of 10%. Gerald Group has committed to materially increase production at the Marampa mining sites, and the expansion project is an important step to fulfilling that commitment. Marampa Mines produces iron ore concentrate from overall resources of about 1.7 billion tons at the Lunsar site.
Charge French also applauded Marampa Mines’ commitment to environmental, social and governance initiatives, citing the project’s donation of rice and educational materials to local communities, provision of wells, and training and development programs for employees and programs advancing entrepreneurship and the status of women.