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Kingho changes to Leone Rock Metal Group

October 20, 2021

By Alhaji Haruna Sani

After 10 years of committed and sustainable investment in Sierra Leone, the Kingho Investment Company Limited has on Tuesday October 19,  officially changed its name to Leone Rock Metal Group.

In his opening remark, chairman of the occasion, who also doubles as Director in the Office of the Chief Executive Officer, Salim Sillah, thanked the media for being part of the company’s transformation process, noting that the company’s change of name was not a kind of ‘pouring old wine in new a bottle’ but changing the chemistry of the wine in the new bottle.

“We don’t want people to judge us by our company’s former name ‘Kingho” but to judge us by what we do and what we have achieved, which include successes and developments and our contributions to nation building that is why we have change our company’s name to Leone Rock Metal Work Group,”he said.

Delivering his statement at the conference room of the company’s head office,Signal Hill Road, off Kongo Cross in Freetown, CEO, Leone Rock Metal Group, Gilbert Zhao, on behalf of management, formally announced the change of name of Kingho Investment Company to Leone Rock Metal Group.

He said since the company’s establishment in 2010, its management has been striving to transform the company to a more integrated one, thus renaming it as Leone Rock Metal Group gives it a Sierra Leone identity.

Zhao mentioned that Leone Rock Metal Group (LRMG) is one of the largest resource investment companies in West Africa and it still remains the parent company of Kingho Railway Mining Company and Kingho Railway and Port Company, which names still remain unchanged.

He assured that all documentations bearing the company’s previous name remain valid.

“During the past decade, the iron ore mining industry has witnessed Ebola outbreak and massive drop in iron ore price that pushed bigger companies to shutdown operation in the country. However, our company held on and even increased investment by bringing the Tonkolili Iron Ore Mine back into production, and we also reactivated the railway and the Pepel port,” he maintained.

CEO Zhao stated that during Covid-19 pandemic, the company brought needed revenue to the Government through tax and royalty, which he said, shows their commitment to sustainable investment in the country.

He revealed that LRMG and its subsidiaries (Kingho Mining and Kingho Railway and Port Company) and subcontractors have employed over 2,000 Sierra Leoneans with respectable and meaningful job, with national employees making more than 98% of the total workforce of the company.

Zhao said LRMG currently has an investment of over 148.62 Million US dollars in the country and that the company has exported over one million tons of iron ore between March 2021 and present,

He said they have paid over 776.4 Billion Leones to the Government of Sierra Leone as revenue.

“We have made significant investment  exceeding 1.8 Billion Leones into the community through our Cooperate Social Responsibility projects covering health, agriculture, education, water and sanitation an also supported the Sierra Leone Police and the Military in Various ways,” he added.

In his statement, the president of the Sierra Leone Association of Journalist (SLAJ), Ahmed Sahid Nasralla on behalf of the Association expresses appreciation to the LRMG for accepting dissenting publications from the media.

He further mentioned that the company is among few that have never reported any journalist to the Independent Media Commission (IMC) since its establishment in July 2010.

He notified the management of the company of SLAJ expectations to benefit from their CSR.

He further advised the management of the company to continue maintaining a healthy relationship with the people in the various communities they operate.

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