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Vol 2 (AAC) No 6

Published 1st April 2009


Liberia

The Bong revival

New facts about China Union's iron ore deal reveal the failure and high costs of Monrovia's negotiating tactics

On closer scrutiny, the agreement between China Union and the Liberian government to resume iron ore production at Bong Mines hugely favours the Chinese company with only a minimal share of revenues for Liberia. Local and international lobbyists for corporate accountability have highlighted the most damaging terms for Liberia in the agreement but have had little effect on the negotiations. On 1 April, Liberia's Senate approved the Minerals Development Agreement that President Ellen Johnson Sirleaf's government had signed with the China-Union (Hong Kong) Mining Company and its local subsidiary China-Union (Liberia) Bong Mines Company on 19 January.

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