1st Quarter Impact Report - US$ 3.3 Million

RDF Quarterly Impact Report

Aasmund Andersen

RDF Quarterly Impact Report

1st Quarter Impact Results – US$ 3.3 Million for the Government of Sierra Leone, Liberia, Malawi, Mali

During the first quarter 2015, RDF systems supported low-income governments to record US$ 3.3 Million in revenues. The result consisted of government revenues from mining, forestry and property tax to the Governments of Sierra Leone, Liberia, Malawi and Mali.

This is the lowest impact result since 2012, and was expected due to the Ebola crisis and low iron ore prices affecting exports in Sierra Leone. The Government of Sierra Leone generates most of the revenues recorded, in particular as royalties and production from iron ore exports managed in the Mining Cadastre Administration System (MCAS).

Total government revenues recorded in RDF systems are now US$ 116.6 Million.

All revenues for Sierra Leone are made public through the GoSL Online Repository. Production volumes as well as contract fiscal terms and annotated text is now managed in MCAS and is awaiting government approval to be published to the GoSL Online Repository. Similarly, shareholder data is included in the license owner profiles. The online system now has over 2,100 registered users, of which over 65% are mining companies and investors. A similar system will soon be launched in Malawi, Liberia and Mali.

The goal of RDF is to help low-income governments mobilize US$ 1 Billion by 2015. RDF have already exceeded its programme target of US$ 100 Million cumulative revenues for the Government of Sierra Leone, and projected total revenue for all current programmes is estimated at US$ 200 Million. Other countries, such as Mali is expected to contribute to significant increase in revenue recorded during 2015.