|Photo Credit: President Koroma shaking hands with Mosery Fadika of African Minerals|
According to news reports African Minerals Plc. (AML) has
donated pledged $500,000 to the Sierra Leone 50th Independence Anniversary Planning Committee at an event launched at Country Lodge Hotel this past Friday. This was on the same day that the ministry of mineral resources announced that the government and AML had signed a lease agreement with AML paying 25% in annual corporate tax over the next 5 years. London Mining another iron ore mining company in Sierra Leone, came under scrutiny for signing a lease that saw it paying only 6% in annual taxes. AML is scheduled to start exporting 3 million tonnes of ore early next year.
UPDATE: China Kingho Group of companies also pledged $600,000 to the 50th Anniversary Committee.