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....
(This article contains approximately 592 words)
