CTC Bauxite Company Pays SLE1.9 Billion Surface Rent in Port Loko

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Commodity Trading Company (CTC), the new mega bauxite mining company, today, 29 January 2023, paid out SLE1.9 billion (old leones) as surface rent to residents and land-owning families in the Marampa and Maforki Chiefdoms in the Port Loko District in conformity with the mines and minerals law of the country.

 Country Representative, Fassally Tarawally, told the gathering that the payment, for them at CTC mining company, was to further demonstrate their interest and commitment to proceeding with their large-scale bauxite mining project in the Maforki and Marampa chiefdoms.

 He also noted that they would commence operations as soon as possible and assured residents that they would eventually have the opportunity to reap the benefits of the natural resources from their land but disclosed their plans to roll out maximum skills development and training opportunities for their employees.

The multimillion-dollar investment is expected to create more opportunities and employment when the company ramps up production and embarks on mega infrastructure development and building the capacity of locals in that part of the country.

 The public event, held at the facilities of the Port Loko District Council, attracted massive crowds and brought in government dignitaries and other prominent people, most of the indigenes of the northwestern mining district.

 It could be recalled that since the closure of Sierramin Bauxite Mining Company, most of the residents had been unemployed, which according to local authorities was already hurting the community whose main source of survival had been cut off.

 After several back-and-forth meetings between Sierramin and the Ministry of Mines and Minerals Resources, leading to the withdrawal of rights and licenses for an already dormant operation, the concessions rights were awarded to CTC mining company after due diligence was done on its financial standing to operate the mines.

Authorities of the two chiefdoms told journalists who witnessed the event that they hoped to use cash from the surface rent to develop their communities, adding that they looked forward to the revival of bauxite production in the district.

 Paramount Chief Bai Koblo Queen II of Marampa Chiefdom said his role as a traditional leader was to ensure that his people benefited from the natural resources from their land and that he would embrace the company in anticipation of the development of his chiefdom and district.

 Resident Minister Northwest, who doubles as the Presidential Spokesperson, Alhaji Alpha Kanu, described the event as a landmark occasion for stakeholders of the chiefdoms because CTC Mining Company had already made a huge investment in those chiefdoms in the short time that they had taken over the operations and management of the bauxite mines.

 Security personnel, who were present at the ceremony, publicly pledged their support and commitment to securing the facilities and investment of CTC, calling on the communities to join them in protecting and preserving the integrity of the CTC mining company. They also called on the youths to take advantage of the opportunity to empower themselves to join the workforce of the company.

 Mr Tarawally assured that CTC was the largest extractive and mining company in Turkey and the fourth of such industry leaders in the world, adding that he was, therefore, very optimistic that their operation in the chiefdoms was a huge opportunity for the country to increase its revenue from the extractive sector because they would be producing over 70 million tons of commercial bauxite every year.

 “Bauxite is the best and only material for making aluminium metal and it is used in the chemical industry, refractory brocks, abrasive, cement, steel, and petroleum. Lateritic bauxite is often used as a building material,” he said.

 He concluded that having more mining operations in the country was crucial for the government’s revenue generation drive, adding that community ownership and collaboration with miners should also be considered vital for the sustainability of mining operations.

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