Latest reports say the mining mogul has through his legal representative contacted the government of Sierra Leone to lift the suspension on his mining licence to clear the way for a new investment package that will automatically employ over 20,000 Sierra Leoneans. (Photo: Will the government reinstate Frank Timis’ mining licence?).
It is not yet privy to the exact details of the new mining agreement with government but very competent sources say both parties have acknowledged a need to move forward with an investment that will significantly boost the country’s GDP and lift it out of its current economic quagmire.
Mr Frank Timis, who reportedly developed the Tonkolili Mines with first-class mining infrastructure including a railway that runs through Tonkolili, Port Loko and Bombali Districts, saw his mining licence cancelled in somewhat controversial circumstances in 2017.
And unfortunately, the dubious and politically motivated cancellation of his mining license took place while 75% of his African Minerals shares were taken over by a Chinese company called Shandong.
He was largely credited by reputable institutions including the World Bank to have contributed to Sierra Leone’s rapid economic growth between 2014 and 2016 by paying over US$100,000,000 as advance tax to the government.
It is very obvious that Mr Frank Timi’s $3.2 billion US dollars investment was undoubtedly the major reason for the good road infrastructure we see in Sierra Leone today. There is palpable anxiety in every street corner with news of the return of Frank Timis.
“We have no doubt in our mind that this will not only bring our economy back on track but will also restore hope to a country desperately anxious to catch up with the rest of the world. Frank Timis’ return is a breath of fresh air indeed,” admirers of Timis believe.