Sierra Leone and Senegal sign a cooperation agreement in the field of mining and energy.
Mining cooperation between Senegal and Sierra Leone
Written by: Ayman Ragab
Sierra Leone and Senegal signed a cooperation treaty in Mining and Energy SectorMonday.
Sierra Leone’s President Julius Maada Bio said on the “X” platform: “Today, along with President Fay, I witnessed the signing of a cooperation agreement in the field of mining and energy between Sierra Leone and Senegal.”.
Expanding opportunities in the extraction and energy sectors
He added: “This signing represents a milestone in strengthening our bilateral relations and expanding opportunities in the extraction and energy sectors for both countries.”.
The mining sector in Sierra Leone
Diamonds are historically Sierra Leone's most famous resource, with mining concentrated in Kono and Kenema areas And so. The average price per carat was around $179.6 in 2024. Despite its great economic importance, a considerable portion of production is still carried out informally or through artisanal mining, which limits official state revenues.
In contrast, the iron ore sector is expected to witness a major boom in the coming years, with production estimated to reach about 35.4 million tons by 2026. This increase is driven by expansions in major projects, most notably the “Simando” project, which is one of the most important drivers of growth in the mining sector.
Gold recovery
As for gold, it is experiencing a remarkable revival, particularly in the southeastern regions, in what is known as the "gold rush." Mining activities associated with it contributed to creating more than two thousand new jobs between 2024 and 2025, thus strengthening its role in supporting the local economy.
Sierra Leone’s mineral wealth is not limited to these resources alone, as the country has large reserves of other important minerals, such as rutile used in the titanium industry, bauxite, as well as strategic minerals used in modern technological industries, such as coltan used in the production of tantalum and niobium, and lithium, which is an essential element in modern device batteries.
