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Sierra Leone iron ore crisis creates debt-racked ghost town

LUNSAR, Sierra Leone (Reuters) - In the months since Sierra Leone’s largest iron ore mine laid off almost all its workers due to a legal dispute with the government, the once bustling town of Lunsar has become a shadow of its former self. In the central market of Lunsar, whose name means “Land of Stones” in the local language, only a few stalls remain open. Taxi drivers and traders say business has ground to a halt. Hundreds, if not thousands, of residents have left altogether. “I can’t just wait for the mine to restart, because I have five families [to support], my mother and father, brothers, cousins,” said 35-year-old Abdulai Bangura, who like his father had spent much of his adult life working at the Marampa mine. Since the closure, Bangura has been forced to scrape a living growing corn, cassava, peanuts and potatoes on a plot whose soil shimmers from the still abundant iron ore in the ground. In all, 1,700 workers at Marampa were dismissed, nearly 5% of the t...

Statement on ICC Arbitral Tribunal’s Peremptory Order relating to SL Mining’s Marampa Project

18 February, 2020 -  Lunsar, Sierra Leone and London, UK: SL Mining Limited (“SL Mining” / “the Company”), a wholly owned subsidiary of Gerald International Limited, issues this press release in order to protect its legitimate interests and place third parties on notice.  This release relates to the ICC Arbitral Tribunal’s Peremptory Order dated 13 February 2020 and the binding restrictions placed by the Tribunal upon the Government of Sierra Leone (“Government”) in respect of SL Mining’s Marampa Project, assets, stockpiles and equipment. SL Mining is pursuing legal action, including ICC Arbitration, against the Government of Sierra Leone as a result of the Government’s unlawful conduct and non-compliance with the binding decisions reached in international arbitration. In the Company’s Statement of 8 October 2019, SL Mining confirmed that the Government had, by letter received on 7 October 2019, purported to cancel SL Mining’s Large-Scale Mining Licence No ML 01/2017 rela...