Over Unpaid US$500,000 License Fees…

Sierra Mining Under Serious Scrutiny

By Shadrach Aziz Kamara

In a rigorous oversight session held by the Public Accounts Committee (PAC) of Parliament, chaired by Hon. Ibrahim Tawa Conteh, Sierra Mining Company Limited was summoned and probed over unpaid license fees totaling US$500,000. The session conducted under the authority of Section 8 of the Finance Acts of 2000 and 2022 respectively sought to address arrears declared and published in public notices, gazettes, and major media outlets.

According to records, the mining company has so far paid $50,000 as of March 14, leaving an outstanding balance of $450,000. Hon. Conteh emphasized the importance of timely payments, stating that such fees and royalties are critical to national revenue and the provision of essential public services. He warned that continued failure to comply could lead to serious consequences, including the suspension of operations and the placing of liens on the company’s accounts, as permitted by law

“We are not here to intimidate anyone,” said Hon. Conteh. “This is a constructive engagement. But companies must know that unpaid revenues to the National Revenue Authority (NRA) are liabilities to the state, and we have a duty to recover them.”
Sierra Mining’s new management team, headed by Managing Director Mr. James John, acknowledged the arrears and committed to settling the remaining $450,000 by May 31. Hon. Conteh accepted the timeline, stressing that this would be the final deadline.
“This extension is based on our understanding of current market conditions and your internal restructuring,” he added. “But failure to meet this new deadline will leave us no choice but to recommend operational suspension and other legal remedies.”

The Committee also reiterated that transparency would be maintained throughout the process, adding that companies that have settled their obligations will be publicly acknowledged so as to ensure a balanced narrative, particularly for those listed on stock exchanges.
PAC has committed to monitoring compliance and ensuring that companies owing the state fulfill their financial obligations in line with existing laws. The Committee warned that any further delays or defaults would prompt swift Parliamentary action

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