Freetown, 5th October 2026 – Marampa Mines has announced a major business restructuring programme to secure the company’s survival amid persistent challenges in the global iron ore market, warning that organisational changes are expected to affect employees at all levels.
In a business update issued to staff on September 22, the company’s leadership said the mining operation continues to face difficult market conditions, including weak iron ore prices, elevated freight costs, and other economic pressures that have impacted the business’s profitability.
The company acknowledged that, beyond external challenges, operational performance has not yet reached the consistency required to sustainably deliver its targeted M3.75 production level at competitive costs.
Chief Executive Officer Paul Lombard and senior executive Angula Kalili said the company has embarked on what it calls the “Marampa Reset”, a comprehensive effort designed to stabilise operations, improve efficiency and realign the company’s cost structure with current market realities.
“Before we can grow, we must first ensure the survival and stability of the business, improve our operational performance and achieve a sustainable M3.75,” management stated.
According to the update, Marampa had previously built its organisational structure and cost base around long-term expansion plans. However, management said current conditions require a shift in focus from growth to sustainability, with the immediate priority being the preservation of the business.
The restructuring will include a redesign of the organisation’s structure, accountabilities and operating model. Company officials said the changes will begin with senior leadership and expatriate positions before extending throughout the wider workforce.
Management stressed that accountability for the turnaround effort would start at the top, noting that changes have already been made at the highest levels of the organisation.
While details of potential job losses were not disclosed, the company confirmed that discussions on the first phase of organisational changes at expatriate level would begin before the end of September. Broader workforce adjustments are expected to commence in late October and continue in phases thereafter.
“Behind every role is a colleague, a family and a contribution that has helped build Marampa,” the statement noted, acknowledging the human impact of the planned reforms.
The company said affected employees would be informed through established procedures and pledged to manage the process with “clarity, dignity and respect.”
Marampa Mines also said it has been engaging the Government of Sierra Leone and other key stakeholders regarding the financial pressures facing the operation and measures needed to restore competitiveness and secure its long-term future.
Despite the challenges, management expressed confidence in the mine’s future prospects, citing what it described as a world-class mineral resource, an established operation, an experienced workforce and continued demand for its product in the global iron ore market.
Company leaders said safety standards, environmental responsibilities and commitments to employees, communities and government partners would remain non-negotiable throughout the restructuring process.
The company maintained that while the reset would be difficult, it was necessary to create a stable foundation from which Marampa could eventually resume growth and realise its long-term potential.
Management pledged to provide regular updates as the restructuring programme progresses.
Meanwhile, the Ministry of Mines and Mineral Resources (MMMR) has held a meeting with the company in the Ministry’s Board Room to discuss the financial health of the Company and the way forward for its operations.
The meeting provided an opportunity for the Ministry and the Company to review Marampa Mines Ltd’s current financial position, discuss key challenges affecting its operations, and explore practical measures to strengthen the Company’s sustainability and continued contribution to Sierra Leone’s mining sector.
The engagement reflects Government’s commitment to maintaining constructive dialogue with mining companies and working collaboratively to address challenges affecting the sustainability of mining operations, while ensuring that the sector continues to contribute meaningfully to national economic development.
