Koidu Limited, one of the biggest and reliable mining companies in Sierra Leone, on Friday 10 February 2023 paid the total sum of NLe1,559,732,19 as surface rent to beneficiaries to the land they occupy doing their mining activities in Kono District, eastern Sierra Leone.
The rent is cascaded to include the following beneficiaries: to the Constituency Development Fund, Koidu Limited allocated 10% which is equivalent to NLe155,973.22; Koidu District Council was allotted 5% which translates to NLe77,986.61, and the Koidu New Sembehun Council was allotted 10% equalling NLe155,973.22.
The surface rent paid by Koidu Limited also impacted Paramount Chief Paul N. Saquee V who received 15% which is equivalent to NLe233,959.83; the Tankoro Chiefdom was given 10% of the allotted funds which equalled the sum of NLe155,973.22, and ending with the Tankoro Administration–Land Owning Families that received 50% of the rent, totalling NLe779,866.09 with a grand total of NLe1,559,732.19.
This annual payment of surface rent by Koidu Limited, according to Mr Turay, Head of Corporate Affairs, is pursuant to not only the mining laws of Sierra Leone but also to international best practices relative to empowering communities where mining interests operate to encourage sustainable development in these localities.
Some of the beneficiaries told The Nationalist newspaper that they were very pleased with Koidu Limited, saying that the company had continued to inhabit a very special place in their hearts “as the company always comes out on time to pay their surface rent”. They hoped that this would continue and other mining interests would follow suit.