TAIA Lion Resources, the fast track developer of the highly prospective Lake Sonfon and Gori Hills gold projects in Sierra Leone, welcomes the efforts of the Sierra Leone Government in creating positive conditions for the continued investment in power generation.
The addition of 15MW of new power to the national grid in 2013 through the privately developed Makeni Ethanol and Power Project signals the positive investment climate currently underway in Sierra Leone.
On a national scale, Phase Two of the Bumbuna Hydroelectric Project is set to more than quadruple the West African country's
generation capacity by 2017, providing mine developers like TAIA with plenty of confidence that by the time they require the power for mine development, it is likely to be on stream.
The government of Sierra Leone has signed a
memorandum of understanding with Joule Africa, a member of the
California-based Joule Investments Group, to add 350 Megawatts of
generation capacity to the facility in the center of the country.
The
deal is expected to cost $750 million, 75 percent financed by debt, the
remainder by equity. It was announced by Sierra Leone's Deputy Minister
of Information Sheka Tarawalie at a news conference in Freetown in May 2011
