JP Anderson Signs Landmark MOU with Vaama Village to Advance Rare Earth Mineral Development in Bonthe District
Rhea-AI Summary
Leone Asset Management (OTCID:LEON) subsidiary JP Anderson signed an MOU on March 1, 2026 with Jong Chiefdom covering Vaama Village, Bonthe District, Sierra Leone to advance rare earth mineral exploration.
A 267-acre assessment identified anomalous concentrations of rutile, ilmenite, zircon, monazite and associated rare earths. Planned collaboration includes geological mapping, feasibility studies, community engagement, local hiring and ESG-aligned practices, with expanded work contingent on regulatory approvals and technical planning.
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CLEARWATER, FL / ACCESS Newswire / March 1, 2026 / Leone Asset Management (OTCID:LEON) today announced that its wholly owned subsidiary, JP Anderson, has signed a Memorandum of Understanding (MOU) with the Jong Chiefdom covering Vaama Village in Bonthe District, Sierra Leone. This strategic agreement represents a key step in advancing the Company's rare earth mineral exploration strategy and expanding its footprint in West Africa's emerging critical minerals sector.
A recent geological assessment conducted across the 267-acre project area identified anomalous concentrations of Rutile, Ilmenite, Zircon, Monazite, and associated rare earth minerals. These encouraging indicators suggest significant exploration upside potential and position the Vaama project as a promising asset within Sierra Leone's expanding mineral development landscape.
Under the terms of the MOU, JP Anderson and the leadership of Vaama Chiefdom will collaborate to:
Conduct detailed geological mapping, sampling, and feasibility studies
Establish transparent and structured community engagement programs
Promote local employment, training, and workforce development
Implement environmentally responsible and internationally aligned mining practices
Support long-term community infrastructure and social development initiatives
JP Anderson remains committed to working closely with traditional authorities, regulatory agencies, and local stakeholders to ensure responsible resource development aligned with both national regulations and global ESG standards.
"This agreement marks an important milestone in our long-term growth strategy," said James Price, CEO of JP Anderson. "Rare earth and critical minerals are essential to electrification, renewable energy systems, defense technologies, and advanced manufacturing. We believe the Vaama project has the potential to become a meaningful contributor to regional economic development while creating long-term shareholder value."
Beyond the Vaama initiative, JP Anderson is aggressively expanding its acquisition and exploration pipeline. The Company is actively pursuing additional mining concessions and joint venture opportunities targeting lithium, nickel, copper, coltan, and other strategic rare earth and critical minerals. These commodities are increasingly vital to global battery production, electric vehicle manufacturing, grid storage, and clean energy infrastructure, positioning the Company to participate in rapidly growing international supply chains.
Sierra Leone is globally recognized for its mineral wealth, including iron ore, gold, rutile, and heavy mineral sands. The Company believes that continued exploration success within the country may further enhance its standing as a premier destination for responsible mineral investment.
Subject to regulatory approvals and completion of technical planning, expanded exploration activities at Vaama are expected to commence in the coming phases of development.
About Leone Asset Management
Leone Asset Management, Inc., is a multi-national, multi-industry conglomerate with subsidiary companies that operate in, Infrastructure Development, Rare Earth Mineral Exploration and Mining and Agriculture Management.
Forward-Looking Statements Disclosure:
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "beliefs," "estimates," "expects," "intends," " plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matter that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risk, and uncertainties, and by reference to the underlying assumptions.
Contact:
James Price
JPriceceo@gmail.com
SOURCE: Leone Asset Management, Inc.
View the original press release on ACCESS Newswire