The Ministry of Mineral Resources in Sierra Leone has reduced the export fees for diamond and gold, which is expected to encourage more mining companies to operate in the country.

Public Relations Officer in the Sierra Leone Ministry of Mineral Resources Abdul Sanu stated that under the new policy, the fee for a diamond export license has been reduced from $40,000 to $20,000, and that $20,000 of the fee can be spread over the course of six months, while in the past the government demanded partial payment of $25,000.

According to Sanu, the Sierra Leone government's goal is to attract more investments in the mining industry in order to help generate revenues for the nation's development. Citizens of the Economic Community of West African States will be able to obtain alluvial diamond dealer licenses for an annual fee of $2,000 instead of $2,500. Gold exporter licenses, however, will remain at $3,000.