The China Development Bank promises to save China Union's US$2.68
Bong Mine project but will take an 85% stake to provide the finance
and pay Monrovia
The US$2.68 billion China Union plan to revitalise Liberia's
Bong Mines has not taken off, almost a year after it was first
signed. Initial concerns about the little-known Chinese mining
company's ability to raise such sums now seem well founded (AAC
Vol 2 No 4). Seeing no progress on the ground, Liberian President
Ellen Johnson-Sirleaf was one of a handful of African presidents
to attend the ministerial Forum on China-Africa Cooperation in
November. She talked with Chinese Premier Wen Jiabao and
got him to promise that the China Development Bank would bankroll
China Union....
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