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NOTICES & DOCUMENTS  

Short address at the Public Disclosure Meeting of the Sierra Leone Exploration and Mining Companyís bauxite project - Feb. 2, 4, and 8; 2011 by the Chairman SLEMCO, Mr. Alieu Mohamed Sesay
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Feb 9, 2011, 17:00
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Mr. Chairman

Hon. Ministers of Government

Hon. Members of Parliament

Chairman & Councilors of port loko District council

Paramount chiefs

Land owners

Members of all political Parties

Distinguish ladies and gentlemen
all the prospecting data available.

SLEMCO contracted at a considerable expense and Indian Company called Scanpoint Geomatics Ltd an associate company of ISRO ( Indian Space Research Organization Of India). They digitized all the data made available to them and with their IGIS program accurately calculated the Ore Body Reserves, Proven and Probable.

 

The results were further scrutinized by a firm of independent consultant geologists in India. The consultancy firm after careful evaluation also declared that the results and findings as per the digitized study were accurate.

SLEMCO ďSierra Leone Exploration and Mining Company LimitedĒ is an indigenous Sierra Leonean Company that is fully registered under the Companies Act CAP 249 and managed by Sierra Leonean Nationals. SLEMCO under a joint venture agreement will be a subsidiary of Varada Resources Sierra Leone Pte Ltd which is incorporated under the laws of Singapore and having its registered office at 7500A Beach Road, #11-303, The Plaza Singapore (199591).Varada Resources will be specializing in the mining¬† of Bauxite in an effort to meet the global Aluminum demand.¬† SLEMCO was incorporated for the purpose of Exploration and Mining Bauxite. SLEMCOís main office is located at the Bailor Barrie Compound, 1 Bai Bureh Road, Freetown, Sierra Leone.

 

The main object of SLEMCO is to embark on large scale mining operations in Sierra Leone. To this end, it has evaluated various prospective Bauxite mining 

concessions. On the conclusion of these evaluations the company ascertained that, the most likely project that was mineable, taking all the circumstances into account was the Port Loko Bauxite Deposits. SLEMCOĎs decision is based on the findings of targeted exploratory and resource evaluation expeditions commissioned by Sierromco which were followed-up by Jupiter. Sierromco carried out prospecting studies between 1963 and 1965 and later in August 1972 to 1977. The output of SierromcoĎs studies included a feasibility report and a detailed mine plan. Sierromco cancelled their rights to the Port Loko Bauxite Deposit after carrying out their study in 1972 to 1977 because the world economic climate then made the project not viable.¬†


Jupiter  in 1994 decided to look at the prospect of reviving the Port Loko  Bauxite Deposit Project. Jupiter acquired from Sierromco all the data from  1962 to
1965 and 1972 to 1977 prospecting studies that were carried out by them.¬†¬† It was established that based on the complete data available and the market conditions prevailing, the project was found to be viable. Jupiter then applied for an Exploration License (EPL) to reconfirm the Sierromco Exploration Work and their feasibility study. This was granted in 1996(EPL4/96). Jupiter then carried out an extensive reconfirmation program in 1997 and compiled a feasibility report based on their reconfirmation work and the Sierromco data. The feasibility study prepared by Jupiter incorporated a full mine plan and financial statements. This was then audited by Watts, Griffis and McQuat Ltd (WGM) of Canada to ensure that once the audit was completed and was positive, the feasibility study would be bankable. WGMĎs audit was positive and reconfirmed JupiterĎs conclusions, that the Port Loko Bauxite Deposit was not only minable but the Capital employed would be returned with a profit.


Despite this Jupiter gave up their License for reasons known to them.

 

Although Sieromco had prepared a feasibility Study and Mine Plan based on the proven reserve of 104million tonnes , the basis of this ore body reserve calculation by Sieromco was lost. Therefore the 104million tonnnes reserve could not be proven as accurate.


In order to show an accurate ore body reserve SLEMCO decided to digitize all the prospecting data available.


SLEMCO contracted at a considerable expense and Indian Company called Scanpoint Geomatics Ltd an associate company of ISRO ( Indian Space Research Organization Of India). They digitized all the data made available to them and with their IGIS program accurately calculated the Ore Body Reserves, Proven and Probable.

 

The results were further scrutinized by a firm of independent consultant geologists in India. The consultancy firm after careful evaluation also declared that the results and findings as per the digitized study were accurate.

 

SLEMCO then finally published the ore body reserve as 321million tones    proven and 140 million tones   indicated.


It made Port Loko Bauxite Concession from a low to medium Mine project to a world class mine project with huge potential. These bauxite occurrences are spread over 100km it appears that only a stretch of 55km. has significant ore bodies. It extends 25km. North and 30km. south of Port Loko.  Access roads, bridges and water crossing point   in bauxite concession area appear to be in excellent shape.


The concessions is watered by trubitaries of the rokel and little scarcies rivers as well as the port loko creek. These rivers would provide an easy water supply for the washing plants and an alumina plant.

 

Pepel was linked with the defunct Marampa iron mine  by a mineral railway running across the bauxite deposits area.  At present the railway is being replaced by African Minerals. If the Bauxite ore is extracted at an average rate the rate of 10 million metric tons per annum, certainly we will be here for at least thirty five years. By that time only a small fraction of us gathered here will be still around.

 


After such a rosy and mouth watering prospect I am sure that my countrymen sitting in front of me are itching to ask ďWhat is in it for usĒ. My answer is an emphatic: ďPlentyĒ. First and foremost, SLEMCO shall continue to meet its statutory responsibilities in full, vis a vis the provisions of the Mines and Minerals Act of 2009. We are talking here
of running an industry in perfect harmony with the local environment.

 


We shall do nothing to undermine the health, welfare and economic well being of our people.

 


We shall meet all our obligations in terms of mine rehabilitation, payment of land rent, and royalties.

 

 

On top of that we shall make our humble contribution to the realization of the Presidentís Agenda for Change for all.

 

We shall help to reduce or eradicate poverty through employment creation.

 


SLEMCO shall employ most of the employable and available manpower from among our people who are on the frontline to bear the potential consequences of these mining operations.

 


Finally, the icing on the cake, thanks to the positive policies of the President His Excellency Dr. Ernest Koromaís administration, we shall finance mutually agreeable projects under the Community Development Action Plan (CDAP).

 

These projects will be implemented by you the peopleÖin effect we shall make port loko district prosporous. Above all, Sierra Leoneans, for a change will get value for their minerals resources.

 

In other words, we are in this together.


We therefore need your full cooperation in the implementation of the Port Loko Bauxite Mining Project, without which SLEMCO will not succeed. We know that expectations are high but we shall all manage these.

 

Together we shall surely win. It should be a win-win situation for everybody.


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