RDF Quarterly Impact Report
3rd Quarter Impact Results – US$ 13.7 Million for the Government of Sierra Leone, Liberia, Malawi, Mali
During the second quarter 2014, RDF systems supported low-income governments to record US$ 13.7 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 highest impact result for any quarter so far. However, low iron-ore prices affecting exports from Sierra Leone may contribute to declining revenues next quarter.
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$ 108.3 Million. A significant milestone was achieved in mid-September, when revenues crossed 100 Million for the first time.
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 1,800 registered users, of which over 65% are mining companies and investors. A similar system will soon be launched in Malawi for forestry licenses and payments.
The goal of RDF is to help low-income governments mobilize US$ 1 Billion by 2015. RDF will soon achieve 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$ 160 Million.