MML champions Sierra Leone Diaspora Investment Conference

Marampa Mines expressed its satisfaction at being able to support this pivotal boost to economic and social development in Sierra Leone

The first Sierra Leone Diaspora Investment Conference, sponsored by Marampa Mines Limited (MML) was held in Maryland on 7 October 2023, where more than 200 members of the Sierra Leonean-American diaspora community including  leaders, policy makers, and investors, gathered for Sierra Leone’s largest business gathering in North America. During the conference, MML shared invaluable insights on how the diaspora can play a pivotal role in bridging the human capital gap and supporting the growth of small and medium enterprises through direct investment.

Cornerstone company 

“Marampa Mines Limited is a cornerstone company in Sierra Leone, and we firmly believe that our success is intertwined with the success of Sierra Leone as a whole. We urge the diaspora to shift focus away from the challenges we face and redirect it towards the abundant opportunities within our company, sector and the broader impact our success is having on Sierra Leone’s future. Diaspora investment can further bolster our growth, help us bridge the skills and gender gap in the workplace, achieve our local content goals, and support businesses and services that complement our own,” said Abdul Koroma, Senior Corporate Executive and Vice President at Marampa Mines.

“We have been delighted to receive invaluable support from Marampa Mines Limited as headline sponsor of the Sierra Leone Diaspora Investment Conference, aimed at fostering U.S.-Sierra Leone trade relations and driving economic growth through direct and indirect foreign investment in the country,” said Vickie Remoe, founder of Make Sierra Leone Famous, the DMV-based firm hosting the summit. “As the largest U.S. investor and employer in Sierra Leone, MML is a shining example of commitment to the country’s long-term economic development and prosperity. MML is also making notable strides in furthering the advancement of Sierra Leonean women in its 2,500-strong workforce and has forged a formidable partnership with the local community, built on mutual respect and cooperation,” added Ms. Remoe. “You should have been there! It was magical. How can a conference about business and investment feel magical? When the Salone diaspora, often divided by politics, puts their differences aside and unites for progress!” 

A greener steel

MML’s trademarked high-grade iron ore product, MarampaBlue, aims to position Sierra Leone in the international iron ore market by enabling a ‘greener’ steel for a cleaner environment through the lower carbon content of iron ore, a key feedstock in the manufacture of steel. In April 2023, MML made a record payment of US$ 1.7m to the Community Development Fund  for the Marampa and Maforki chiefdoms in the Port Loko district where Marampa Mines is located, based on its Community Development Agreement to support local development initiatives. This maiden payment was the largest single donation from any mining company in Sierra Leone ‘s history, aimed at inspiring positive change and creating more vibrant and sustainable communities.

Marampa Mines Limited is a subsidiary of Gerald Group and is engaged in the development, production and export of iron ore concentrate from resources of approximately 1.7bn tonnes at Marampa in the Port Loko District of the northern province of Sierra Leone. The company is committed to being a resilient and globally competitive, world-class iron ore concentrate producer. Through investment, expertise and long-term commitment to the Marampa Project, MML aims to materially develop the production of >65% Fe quality iron ore concentrate, one of the highest grades globally, branded Marampa Blue and to adopt a low-carbon energy mix at its operations. MML’s sustainability programme is aimed at creating mutual stakeholder value and economic, environmental, and social benefits for the mining operation, communities who are local to the mine site, and Sierra Leone. MML has a strong focus on embracing the challenges relating to climate change, gender diversity, the environment, sustainable farming, and education.

 

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