Marampa Mines Limited to Launch CDA Payment
Marampa Mines Limited (MML) on Saturday 29th April 2023 to launch its Community Development Fund (CDF) pursuant to its Community Development Agreement (CDA) as required by the Mines and Mineral Act, to support local development initiatives in their primary host communities of Marampa and Maforki Chiefdom in Port Loko district.
The CDF represents Marampa Mines Limited (MML), commitment in its Mining Lease Agreement to give 1% of its Free On-Board revenue generated to its primary host communities for eligible development projects, including but not limited to, education, health, environment and economic development.
According to the release, the CDF is a testament to the commitment of Marampa Mines Limited to support the growth and development of the communities around the company mining operations. The Company hope their CDF, the largest single donation from any mining company in Sierra Leone's history, inspires positive change and creates more vibrant and sustainable communities.
"We are excited and thrilled to officially launch this fund after our first full year of Production of high-grade iron ore concentrate, Marampa Blue, to support the growth and development of our community, and we believe that empowering our communities through investing in local initiatives, can help create a brighter future for everyone living in our concession areas", said Craig Dean, CEO of MML.
The release further stated that the CDF will be administered by the Community Development Committee (CDC) which includes representatives from various groups in the Maforki and Marampa Chiefdom and the CDC and its Steering Committee has autonomy on project decisions and they will decide on what project to undertake or not.
MML seats on the Steering Committee of the CDC and will support and recommend that projects undertaken by the CDC have a clear impact on the community, a sustainable plan for long-term success, and promote collaboration and partnership among stakeholders.
The release stated that the main aim for the CDF is to aid local initiatives and projects that aim to improve the quality of life for residents of the communities around their mining concession who play host to them.
