Home > Economy of Africa, mining in Africa > African Minerals Set to Become the Most Successful Mining Company in Africa

African Minerals Set to Become the Most Successful Mining Company in Africa

from newstimeafrica.com

2/27/2010
by Ahmed M Kamara

African Minerals Set to Become the Most Successful Mining Company in Africa

Africa is unique in its mining resource potential. The untapped mineral wealth that Africa offers will ultimately define the continent’s economic supremacy and give Africans more leverage in major economic decisions by world financial institutions. The emergence of leaders with vested interest in ensuring that countries in Africa are politically and economically prepared to meet the challenges of this sudden realization of wealth is ever more increasing. In Sierra Leone, the President, Ernest Koroma is presiding over policies that would attract foreign investment and provide securities to would-be investors, that are unprecedented within African economic environments.

Tackling corruption has become a priority of the government of Sierra Leone. Putting in place legislation that guarantees returns of investments without political interference is a prerequisite to attract foreign investment. And the recent decision to partner with the African Governance Initiative of Tony Blair must be an added incentive as the former British Prime Minister is keen on helping the Sierra Leone government overcome the problems of bad governance and provide on the ground assistance that will help the presidency steer through economic measures set to bring the country out of financial mismanagement onto the path of economic prosperity. Because of the success of the African Governance Initiative in Rwanda and Sierra Leone, the Liberian government has recently invited Tony Blair to assist in its strive towards good governance.

These are some of the factors that are bringing big investments into Sierra Leone, and African Minerals headed by its dynamic Chairman, Frank Timis, has capitalised on this attractive investment atmosphere to establish the biggest mining project Africa has ever seen. The company has recently announced the discovery of over 9.5 Billion tons of iron ore in Tonkolili in the north of the country. But the company’s emphasis has not only been to make profit from its ventures in Sierra Leone. It is also keen on engaging in significant social projects that will help lift the locals out of poverty and provide a better standard of living for the people. It seems African minerals has shown sensitivity to the plight of the people in Sierra Leone. The company is fully aware of mistakes made by other investment companies coming into Africa with only one aim – to make profit and leave the people who have provided the means to achieve this in abject poverty.

Frank Timis has a record of human compassion and he has clearly showed this by developing a strategy that will see his company build new schools and medical facilities that would service the deprived constituencies of the country’s masses. Frank Timis is qouted as having said: “My goal is to contribute to the economic growth of these regions so that their children can have the same lifestyle as my own children!” – More here. (note that this website looks really depressing, at least in comparison to other news sites, so if you are suffering from depression or don’t want to suffer from it I suggest that you not go to this site.)

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: