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Stories from Koidu · Sierra Leone

2 stories in this location, newest first.

economy 15d ago Koidu

Koidu Limited Denies Profiting From Currency Devaluation

Mine workers in Koidu report that wages are being reduced following currency fluctuations. Miners claim the company has been paying local staff in US dollars instead of the local currency. Since 2016, the exchange rate has shifted from 650 Leone per dollar to approximately 23.5 Leone per dollar. CEO Dag Cramer addressed the narrative regarding these pay practices. The dispute involves the economic impact of currency fluctuations on mining employees. He noted that the lowest-paid worker at Koidu received three times the national minimum wage. Cramer further asserted that working conditions at the mine are exceptionally good by both Sierra Leonean and broader African mining standards. The company faces accusations of inaccuracy from opposing sides regarding these claims. Both sides in the dispute currently accuse the other of inaccuracy regarding these claims.
WBUR Boston
economy 15d ago Koidu

Unpaid Wages Impact Sierra Leone Mine Workers

Workers in Sierra Leone's Kono district are facing potential layoffs amid an ongoing industrial dispute. Family members of miners report extreme difficulty sustaining livelihoods following the mine's closure. Residents are turning to petty trading, small-scale mining, and agriculture to survive. Previously, monthly mining wages provided sufficient support for family sustenance. Workers have issued threats of unrest if court cases regarding their compensation are not resolved. The situation is occurring against a backdrop of the country's history of social instability. Community members in Kono, Sierra Leone, report that the diamond mining industry has failed to provide economic stability. Local leaders state that the community remains among the poorest in the world despite the presence of diamond resources.
WBUR Boston