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Sierra Rutile Agreement (Ratification) Act, 2002

An Act ratifying the agreement governing the Sierra Rutile mining operation in Sierra Leone.

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Summary

The Sierra Rutile Agreement (Ratification) Act, 2002 ratified and gave legal effect to the agreement between the Government of Sierra Leone and the operator of the Sierra Rutile mine, one of the country's major mineral operations (producing rutile, a titanium ore).

The Act approved the scheduled agreement and gave it the force of law, binding the Government and the company to its terms — including the rights to mine, the fiscal and royalty terms, and related obligations — and providing legal certainty for this important investment. The substantive terms are those contained in the scheduled agreement.

Main provisions

  • Ratifies the Sierra Rutile mining agreement and gives it the force of law.
  • Typically annexes the agreement as a schedule.
  • Provides the rights, fiscal terms and obligations of the mining operation.
  • Binds the Government and the company to the agreed terms.
  • Provides legal certainty for a major mineral investment.