Arbitration and dispute resolution
African Minerals, its subsidiaries and the Government must in good faith endeavour to reach an amicable settlement of any dispute...
Audit mechanisms - financial obligations
African Minerals and its subsidiaries will prepare and maintain accurate records of its operations while this Agreement is in force....
Closest community
The Diang Chiefdom in Koinadugu District, the Kalansongoia, Samaia Bendugu and Kafe Simira Chiefdoms in the Tonkolili District (Northern Province of Sierra Leone)
Confidentiality
All data or information supplied in accordance with the Mines and Minerals Act 2009 will remain confidential and will not...
Date of issue of title/permit
The effective date, defined as the date of ratification of the Agreement by Parliament
Environmental impact assessment and management plan
Water and Land Rights: African Minerals and its subsidiaries can, in accordance with its Environmental Management Plan, cut or use...
Environmental protections
If the operations and exercise of rights by African Minerals and its subsidiaries are deemed by the Director to be...
Governing law
This Agreement is governed by the Laws of the Republic of Sierra Leone and such rules of international law that may be applicable
Income tax: exemptions
African Minerals and its subsidiaries will not be liable for any minimum taxation relating to the conduct of activities pursuant...
Income tax: other
Capital Expenditure Allowances: In determining the Company's taxable income for the year in which an expenditure is incurred, African Minerals...
Income tax: rate
A fixed rate of 25% per annum or the prevailing rate applicable to companies generally (as per the Income Tax...
Infrastructure
African Minerals and its subsidiaries may construct and operate roads, railways, buildings, plants, structures, living quarters, water supply systems, electric...
Local development agreement
Community Development Fund and Additional Royalty Payments: Tonkolili must make tax deductible payments to the Community Development Fund as provided...
Local employment
Employment and Training: African Minerals, its subsidiaries and its contractors must give preference in all levels of employment to Sierra...
Local procurement
African Minerals and its subsidiaries must give preference to equipment, services, supplies and products produced locally in Sierra Leone if...
Location
All of the land lying or being within 29N Grid Zone Ferengbeya Area, whose dimensions are defined by the Table in Schedule 1 of the Agreement
Name of company executing document
African Minerals (SL) Limited, Tonkolili Iron Ore (SL) Limited ('Tonkolili') and African Railway and Port Services (SL) Limited
Other - financial/fiscal
African Minerals and its subsidiaries will pay in advance an annual Mining Lease fee of US$500,000 (or its equivalent in...
Parent company or affiliates outside of country
African Minerals Limited ('African Minerals'), a company registered in Bermuda, is the parent company of African Minerals (SL) Limited, which...
Renewal or extension of term
African Minerals and its subsidiaries may apply to the Minister responsible for Mineral Resources for a renewal of the Mining...
Royalties
African Minerals and its subsidiaries will pay a royalty at the rate of 3% of market value, as defined under...
Social/human rights monitoring
African Minerals and its subsidiaries will endeavour to pay fair compensation, dependant on a certified Government valuation, for any potential...
Stabilization
The Agreement does not provide for a stabilisation clause. The Ministry of Finance and Economic Development and the Company will...
State agency, national company or ministry executing the document
Surface fees or rent
Tonkolili must pay to the land owners or lawful occupier, through the appropriate local authority in which the lease area...
Water use
In addition to the rights given to African Minerals and its subsidiaries under Section 114 of the Mines and Minerals...
Country
Sierra Leone
Signature Year
2010
Resource
Iron Ore
Type of Contract
Concession Agreement
Open Contracting Identifier
ocds-591adf-2341010686
Disclosure Mode
Government
See Legislation in African Mining Legislation Atlas
African Minerals Limited, Environmental Impact Assessment, 2010
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