Korovy Val Moscow, June 18 2024 - Russia's St. Petersburg International Economic Forum (SPIEF) 2024 saw significant participation from various African nations, including the Republic of Sierra Leone. The Sierra Leonean delegation was led by the Minister of Mines and Mineral Resources, Hon. Julius Daniel Mattai, accompanied by 1st Deputy Minister of Finance, Kadiatu Allie; Ambassador to the Russia, Mohamed Yongawo; and officials from the National Minerals Agency (NMA).
The highlight of Sierra Leone's participation was the signing of a Memorandum of Understanding (MOU) between the Ministry of Mines and Mineral Resources and Zarubezhgeologia JSC of Russia. The primary objective of the MOU is to undertake comprehensive geoscientific studies to enhance the findings of the Nationwide Airborne Geophysical Survey that was completed in 2021. Actions are underway to establish technical working groups to flesh out detailed implementation plans.
Minister Mattai stressed the importance of adding value to mineral resources through the entire value chain, from exploration, mining, processing, manufacturing to use and reuse. He further noted that the SPIEF 2024 MOU with Zarubezhgeologia JSC will help Sierra Leone better inventory and understand its mineral resources, facilitating access to better financing and investment opportunities.
SPIEF, which is held annually in St. Petersburg since 1997 and under the Russian President's auspices since 2006, is a premier event for the economic sector, attracting over 10,000 participants from more than 120 countries. The Forum fosters dialogue among global business leaders, political figures, and policymakers to address economic challenges and promote international cooperation.
Among several other engagements, Minister Mattai participated in sessions hosted by ALROSA, the global diamond conglomerate, Russia’s Ministry of Natural Resources and Environment and the Federal Subsoil Resources Management Agency (Rosnedra).
During one of the sessions, the eloquent Minister Mattai underlined Sierra Leone’s challenges in providing clean water despite abundant water resources. Only 2% of the nearly 8 million population have access to reliable clean water, with rapid urbanisation, mining and agriculture contributing to water pollution.
The Minister of Mines underscored government efforts in addressing the water problems emphasizing the need for better water resources and sanitation management policies and encouraged collaboration with Russia government and private agencies for technical assistance.
Minister Mattai discussed Sierra Leone's potential in the exploration and exploitation of critical energy transition minerals (e g., lithium, cobalt, nickel, graphite, coltan, rare earth minerals, etc) that are essential for low carbon future energy systems and technological advancements. He stressed the importance of partnerships with Russia to leverage their expertise in geophysical, geochemical, and geological surveys. Sierra Leone aims to transition from merely exporting raw materials to adding value through processing and manufacturing, aligning with the African Mining Vision of 2009.
The Minister of Mines and Mineral Resources continued with a long history in diamond mining in Sierra Leone and looks to seek partners in the mining industry across the globe and within BRICS for support in policy development, technology transfer, and market access. Minister Mattai emphasized the importance of BRICS in shaping global trade rules and creating job opportunities, particularly in the artisanal and small-scale mining sectors.
In her panel session, 1st Deputy Minister of Finance Hon. Kadiatu Allie called for international and interregional cooperation to create sustainable jobs, develop infrastructure, and attract global investment. She encouraged private investments in Sierra Leone to leverage the youthful population and enhance national development.
During bilateral meetings, Sierra Leonean officials and Russian counterparts, including the Head of Rosnedra, Petrov Evgeniy, discussed leveraging Russia’s extensive geological research and expertise. Ambassador Yongawo underscored the strengthening relationship between Sierra Leone and Russia, emphasizing the need for proper mining practices and human capacity development.
The SPIEF 2024 participation and subsequent MOU signing mark a significant step for Sierra Leone in harnessing its natural resources and fostering international partnerships for sustainable development.
For More Enquiry:
Festus J. Lahai
Information Attache'
Moscow, Russian Federation
Website: www.slembassyrussia.org
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