Liberia is rich in domestic iron ore, has proven reserves of up to 40-65 million tons. Liberia was once the world’s third largest exporter of iron ore, with iron ore exports accounting for half of its total exports. After the end of the civil war, Liberia began to embark on the path of economic development and national reconstruction.
Over the years, India and China have strengthened their respective influence in the African region and continue to compete, each involved in infrastructure construction, industrial development and mining and so on. In 2013, the Government of India also provided Liberia with a total of $ 144 million in soft loans to help the country build transmission and distribution lines and two substations.
According to Indian media reports, China is still competing with Indian companies in Liberia’s largest iron ore Wo Condez mountain iron ore.
First, the Warnoguez mountain iron ore battle
In the rich iron ore resources of the West African countries Liberia, India Jindal Iron and Steel Power Co., Ltd. (hereinafter referred to as Jindal) has long been “fancy” the country’s Wo Nuo Gezi mountain (Wologizi) iron ore. However, when the Chinese company also said that the iron ore are interested.
1, the Indian mining enterprises “overweight”
It is reported that Jindal began to express the intention to buy Voroguez mountain iron ore, and said it would invest 2 billion US dollars, in order to increase the “winning” chips, Jindal even promised to build a power station for the Liberian capital Monroe VIA suburbs.
India has published a special analysis of India’s African strategy, said India’s investment in Africa has more priceless resources, the African government for the revival of South-South cooperation through India is very enthusiastic, not only because they think that India’s development experience and technology with Own more relevant, and that India is more open than China, trusted partner.
However, the “Dean Herald” reported that the prospect of Jindal’s fight for the Wernoguez mountain mine was still uncertain because the Liberian government would enact a law that would allow foreign companies if they wanted permission from the Liberian government to do business , They must give the Liberian government at least 40% of the shares.
2, the British company’s “spoiler”
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Later British companies “spoiler” makes the situation more complex. British mining company Saibuer mining companies also fancy this piece of “fat”, they carried out a series of “ground” and “underground” activities.
In order to obtain the mining rights of the Volino Garcia Mountain Iron Mine in Liberia, Saebel Mining Company began to employ Sherman in early 2010 (the Liberian Solidarity Party Chairman Sherman was a well-known lawyer in Liberia with a wide range of contacts) for the company in Liberia Of the lawyers to help “get through the crowd.”
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Former chairman Tyler is suspected of charging $ 75,000 in fees and charges, to promote a benefit of the Saipur mining company’s legal amendments in the parliament approved.
According to this amended law, the Minister of Land, Minerals and Energy of Liberia has the right to declare that certain areas may grant mineral exploitation rights to individual companies without bids. Saibuer mining company was originally planned in the legal amendment was approved after the “back door” won the Wooke Gesi mountain iron ore mining rights, but failed to do so.
Although this Libyan’s largest iron ore Chinese enterprises did not receive the bag, but the success of the enterprise into another large iron ore in Liberia!
Second, Wuhan Iron and Steel will state mine “income in the bag”
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1, state mineral resources
The mine is located in the southwestern part of the central state of Liberia. The iron ore is distributed on the surface of the surface. Most of the ground is only three or four meters from the ground. It is very suitable for open pit mining and is a large open-air iron ore. A total of 1.31 billion tons, the prospect of reserves of more than 20 million tons, the average grade of 35.48%.
2, Wuhan Iron and Steel to obtain control
In order to achieve iron ore self-sufficiency, Wuhan Iron and Steel in 2010 to pay 68.46 million US dollars into the state mine project and get control.
Liberia’s mine is the first overseas iron ore to be built, developed and operated by WISCO, and the largest project for Chinese enterprises to be put into operation in Africa.
The last century 60′s, Germany BMC company here mining. Later, long civil war, so that the only profit in Africa was destroyed iron ore, 15 years into a shutdown state.
State ore to attract Wuhan Iron and Steel, is in 2010.
Since 2005, as the central enterprises of Wuhan Iron and Steel began to seek a global layout, hoping through the development of overseas mines, the end of their own steel enterprises and even high iron ore pressure was breathless dilemma.
In March 2010, Wuhan Iron and Steel bought a 60% stake in the Liberian Iron Mine Project from the China-Africa Development Fund for $ 68.5 million and was built and operated by WISCO China Africa (Hong Kong) Mining Company Limited.
The project plans an annual output of 10 million tons. A project of 1 million tons, followed by 9 million tons, plans to put into operation in 2015.
The first phase of the Wuhan Iron and Steel Company has been put into operation in July 2013 and the second phase of the project has been put into operation in 2015. For Liberia, this project is also important – data show that Liberia’s GDP will double after the second phase of the state mine project.