now see Kingho Railway and Ports Company commencing full-scale operations as a continuation of investment to upgrade and reconstruct the Railway and Port facilities to international standards.

At present, LRMG is the largest investment company in the country; overseeing Sierra Leone’s largest iron ore mines in Tonkolili District through its subsidiary, Kingho Mining Company. The expansion of the Railway and Pepel Port by LRMG represnts a clear manifestation of the company’s unwavering commitment to deliver on their corporate pledge. No doubt, the launching which took place at Pepel last Sunday was graced by eminent personalities in the Government of Sierra Leone, including His Excellency the Chinese Ambassador, the Speaker of Parliament, Mines and Mineral Resources Minster, other Cabinet Ministers, district and cheifdom authorities and several top business executives.
Making a statement on the company’s expansion, the Chief Technical Officer of LRMG, Salim Sillah said the expansion in the mining sector, railway, and port is expected to generate nearly 20,000 direct jobs in the next three years, building on the 5,200 jobs already created, which is benefiting over 25,000 people. Consistent with government's youth development programs, he said LRMG is also considering establishing a vocational training center to empower Sierra Leonean youth and enhance their self-sufficiency.
The Chief Executive Officer (CEO) of LRMG, Gilbert Zhao outlined the company's ambitious plans, which include the construction of a 49MW power plant in Tonkolili and a 9MW power plant in Pepel Port, investing over US$32 million and US$7 million respectively. Additionally, to meet the anticipated high traffic demands, LRMG will restore and upgrade the jetty with a US$5 million investment. In total, the company is committed to investing between US$40-50 million in these projects, which are set to be completed within six months after its launch on 5th November 2023.
The Chinese Ambassador to Sierra Leone commended the new lease agreement as a testament to the successful cooperation between China and Sierra Leone under the Belt and Road Initiative. He expressed confidence in LRMG's commitment to expanding investments in Sierra Leone and establishing a lasting presence in the country. Notably, LRMG has formulated a five-year plan aimed at increasing output to 20 million metric tons, upgrading the railway and port, and constructing a steel plant within Sierra Leone.
The Deputy Minister of Transport and Aviation Rex Bonapha celebrated this project as a significant milestone for rail transport and the Sierra Leonean economy. He further called on LRMG's management to expand the rail network to agricultural sites in the country which aligns with the government's manifesto promises.
Deputy Minister of Finance, Jeneba Bangura emphasized the multitude of benefits Sierra Leone stands to gain from this agreement, including job creation, increased tax revenue, royalties, corporate taxes, and foreign direct investment, all of which will contribute to the country's development.
With LRMG's ambitious rail and port upgrade project, Sierra Leone is poised to experience transformative growth, generating employment opportunities, stimulating economic activity, and positioning the country as a key player in the mining and infrastructure sectors. The government and LRMG's collaboration exemplifies the shared commitment to harnessing the nation's resources for the benefit of all Sierra Leoneans.
The Resident Minister-North announced the government's support for LRMG, praising their dedication to advancing infrastructure in the region.
The Minister of Mines and Mineral Resources, Julius Mattai hailed the project as a significant milestone for Sierra Leone. The minister described as superior to any previous agreements, the new lease agreement between LRMG and the government of Sierra Leone. He further emphasized that LRMG's involvement does not result in a monopoly over the Rail and Port, as the company is currently exporting for CTC and as discussions are underway with Marampa mines to use the rail and port facilities.
The Speaker of Parliament, Hon Abass Bundu applauded LRMG for their investment in the expansion project which seeks to reconstruct damaged infrastructure and ensure safe operations for all users. This development is particularly significant as LRMG aims to export steel, not just ore, from Sierra Leone in the future. Hon Bundu pledged Parliament's support for the project, underscoring its potential to benefit the people of Sierra Leone.