Arbitration and dispute resolution
If Parties cannot reach an amicable settlement of all disputes, they will submit the matter to a board of three...
Audit mechanisms - financial obligations
The government may instruct an independent firm of accountants to assess lossese between December 31 1995 and December 31 1999;...
Confidentiality
Government will keep confidential all information provided to it by the Company and will not disclose without prior consent of the Company
Income tax: exemptions
The Company shall not be liable for taxes other than those listed in Art.6(i). Exemption until the Financial Year ending December 31, 2005.
Income tax: other
Amortization: 40% for the first year, and 20% for following years. Upon company's requests losses incurred by the Company 9...
Income tax: rate
Fixed rate of 37.5% on incomes of the company received in Sierra Leone, or the fixed rate of the Income...
Local development agreement
From January 1, 2003, payment to an Agricultural Development Fund of the higher of $75,000 or 0.1% of gross...
Local employment
The company shall not import unskilled labor of the carrying out of any operations and the Company should give preference...
Other - miscellaneous
The Company must endeavour to make satisfactory arrangements for payment of a fair compensation for any prospective damage to any...
Physical security or protection of property
In order to achieve an effective security regime, the Company may create and maintain a security force to provide a...
Resource(s)
Titanium bearing and associated mineral, but the Company may discover other minerals, such as diamonds.
Royalties
For titanium and associated minerals: rate of 3.5% of the gross sale price, free alongside the Sierra Leone port of...
Social/human rights impact assessment and management plan
The Company will prepare at its expense a comprehensive master plan that will adress the issues of reclamation and rehabilitation...
Stabilization
If the Government enacts any legislation or administrative rule or practice which results in more onerous obligations upon the Company...
State agency, national company or ministry executing the document
Minister of Mineral Ressources
State participation
The option previously reserved in a former agreement for the Government to acquire 47% of the shares of the Company...
Water use
Within the Mining Lease Area, the Compant will have the right to use the water from any natural watercourse and...
Work and investment commitments
The Company shall undertake an expenditure in the aggregate each year of not less than $2,500 per square mile on...
Country
Sierra Leone
Signature Year
2002
Resource
Diamonds | Titanium
Type of Contract
Concession Agreement
Open Contracting Identifier
ocds-591adf-3034053463
Disclosure Mode
Government
See Legislation in African Mining Legislation Atlas
Sierra Rutile Limited, SRL Acquisition No. 3 Limited, Concession, Amendment, ...
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