Parliament Cracks Down on CTC Mining Over $2M Debt, Signals End to Leniency for Concession Holders
By Benjamin S Conteh
Freetown, Sierra Leone Sierra Leone’s Parliament has drawn a hard line on corporate accountability, demanding that CTC Mining and its subsidiaries immediately pay $2 million owed to the government. The call came during a heated Public Accounts Committee (PAC) hearing on April 30, 2025, at the Administrative Building in Tower Hill, Freetown.
Hon. Deputy Speaker of Parliament and PAC Chairman sharply criticized the company for failing to honor its financial obligations, despite benefiting from generous government concessions. “This is unacceptable,” he declared. “Parliament just approved two major concessions for CTC this year one for mining operations and another for port and rail infrastructure. And now they’re refusing to meet their obligations.”
He further disclosed that two of CTC Mining’s subsidiaries Sharma King and Sting each owe the government $1 million. “We are not going to accept any payment plan. These companies cannot take Parliament or this country for granted,” he said firmly.
The PAC Chairman ordered that summonses be issued immediately, with letters to be dispatched the following Monday. “If they do not pay us, we are going to take direct action we will close their accounts. There will be no negotiation on this,” he warned.
This firm stance marks a dramatic shift from previous practices where struggling companies were allowed to negotiate payment plans. The PAC Chairman made it clear that such leniency is no longer on the table. “Parliament cannot approve concessions for companies that claim to have financial capacity, only for them to later seek waivers and default on payments,” he stated.
His comments also served as a warning to other concessionaires in the mining and infrastructure sectors. Stressing the need for transparency and fiscal discipline, he emphasized that Parliament’s new approach is designed to protect national interests and ensure that concessions serve the people of Sierra Leone. “These are the things that undermine public trust,” he said. “We are doing this to safeguard national resources and enforce accountability.”
The implications of the hearing could be far-reaching, particularly for companies that have come to expect leniency. For CTC Mining, Sharma King, and Sting, the days ahead will be decisive. With Parliament threatening financial and legal consequences, the companies must act swiftly or face severe penalties.
This hearing may well mark a turning point in how Sierra Leone manages its concession agreements, signaling a new era of enforcement and public oversight.
