TAIA Lion Resources "Sierra Leone The Place For Growth in 2012"

TAIA Lion Resources, one of Sierra Leone's leading natural resources development companies, points investors to the recent positive International Monetary Fund (IMF) report on Sierra Leone.

See below the following Extracts

Extractive industries are expected to drive economic activity. Assuming full 

implementation of two new iron ore mining projects, economic activity and tax revenue will 

increase substantially in the coming years. (Box 1 ) A one-time expansion of real GDP of 

about 45 percent is projected for 2012, while exports could increase by a factor of four. To 

level the playing field for new mining investment and increase revenue, the fiscal regime as 

defined by the Mines and Minerals Act (MMA) of 2009 will be fully applied to future 

agreements. The government intends to implement a resource rent tax (structural benchmark 

for December 2012) to benefit from upside profitability, and a capital gains tax to safeguard 

government revenue in case of sales of lucrative lease agreements in mining and oil 

extraction to third parties.  

Activity in other sectors is also expanding. Real non-iron ore GDP growth is 

expected to increase to 6 percent in 2012 and beyond. Key steps are being taken to strengthen 

the business environment: investment in agriculture and food security, basic infrastructure, 

electricity generation, and health and education.