Freetown, 12th August 2026 – President Julius Maada Bio has declared that Sierra Leone’s mineral wealth must deliver “greater prosperity for our people,” as he outlined both gains and challenges in the mining sector during his State Opening Address to Parliament on Friday, August 7, 2026.
Mining remains Sierra Leone’s largest source of foreign exchange, public revenue, and formal employment. In 2025, mineral exports reached US$1.3 billion, a 16 percent increase over 2024. The sector generated US$55.8 million in non-tax revenue and supported 15,543 formal jobs, with Sierra Leoneans holding more than 92 percent of those positions.
In the first half of 2026, mineral exports fell by 8.2 percent to US$651.7 million, largely due to weaker mineral sands and diamond exports. Yet other indicators showed resilience:
Non-tax revenue rose by 21.3 percent to US$30.2 million, formal employment grew by 10.3 percent and gold exports surged by an extraordinary 410.6 percent, positioning gold as a new pillar of the sector.
Despite gold’s rise, iron ore continues to dominate, accounting for 73.3 percent of mineral exports, with a single operator responsible for 64.9 percent. President Bio stressed that diversification is essential to shield the economy from shocks tied to any single commodity or company.
Investor confidence appears to be returning, with 20 new exploration licences issued in 2025. Government is also formalising artisanal mining, promoting value addition, and strengthening oversight through price verification, inter-agency revenue coordination, and a digital Mines and Minerals Management System.
Community development remains a priority. In 2025, two major mining companies contributed approximately NLe146 million to Community Development Funds. The President urged transparent management of these resources, directing them toward local priorities such as roads, water, schools, healthcare, and sustainable livelihoods.
Environmental obligations were also underscored, with mining companies expected to rehabilitate affected land and protect host communities.
Women now represent 18.6 percent of the mining workforce, with their share in senior management rising from 15 percent to 20.4 percent. President Bio insisted that progress must accelerate: “No development that excludes women can be considered true national development.”
