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Bea Mountain Mining Company (BMMC) is an irrefutable post-war national economic trailblazer – a demeanor shown in its modus operandi since its inception.
Of course, after a devastating civil war that underpinned every national fabric, Liberia became nonexistent, and literally comatose. It required the necessary oxygen to revive it to its antebellum status of a thriving economy comparable to Japan, and an appealing investment environment and other necessities befitting of an independent nation.
Realizing this feat required proactive approaches, adjustments and practical actions in order to anchor possibilities that would engender sustainable socio-economic and a flourishing future for its people after it became an explicable reality that comprehensive deliverance of the country and its citizens from the setbacks that besotted them was an undeniable task. There were diverse options that gazed from different directions, of which wooing foreign investments was welcomed as a reasonable recipe. It was based on the consideration that there is no nation on earth that celebrates or enjoys economic vitality on its own without foreign investment opportunities
Nothing comparable to the fact that investments are backbones nations rely on to thrive economically. And in an already advanced age of technology and improved human existence, competitions for investment opportunities remain high amongst nations.
For example, the United States and China, the world’s two largest economies, continue to be at loggerheads in pursue of different foreign investment interests in their domestic economies to boost growth, employment opportunities for their citizens, amongst others. This investment scramble and struggle validate realities that foreign investments are complete economic vertebrates and fulcrums of every nation, of which Liberia is no exception, and anyone who still harbors the cogitation that landing foreign companies in Liberia is an awful undertaking, might just be a resident of utopia.
Regardless of how others saw it and maybe still see it, opening to foreign concessions was just one of several sagacious moves made by the country to address the harsh economic realities citizens faced, and the need to restructure the entire governance process in support of democratic values that align with the wishes of Liberians and the international community.
And being fully aware of the monumental task of restructuring the country through institutional reforms, foreign policy amendments, responsible and requisite legal frameworks that encourage investment opportunities, job creations for Liberians and reengaging with the international community at all levels, the Ellen Johnson Sirleaf administration had no other choice, but to declare Liberia open for business. That clarion call obliquely resonated far and near and dozens of foreign companies rushed to the shores of Liberia with investments totaling billions of dollars into in a dysfunctional country.
Of course, that was a risky venture. The fact that most of these companies stood inveterately and challenged the odds in order to help build a prosperous future that war had robbed Liberians of and their cherished country should be a commendable overture.
This is exactly the paramount reason why Bea Mountain Mining Company (BMMC) investment in Liberia should be welcomed as an undisputed post-war success story – a postwar economic recovery mechanism that aligns with the country’s ultimately hankered goals and desire to revitalize and reposition its once totally collapsed economy and physical infrastructures.
Lest it is ignored that welcoming such million dollars investment underscores the expression “it is better to have something tangible, like a small amount of food or a physical tool, than having nothing at all.” The investment supports Liberia’s supreme interest, coming out of a cataclysmic war, to secure more foreign investments that would help boost and nurture economic activities, rather than simply admiring, boasting of and beholding its vast natural endowments of gold, diamond, timber, iron ore and many others, and still wallop in poverty.
BMMC is among dozens of companies that made the audacious choice, dared the harshly existed realities to put millions of dollars upfront in investment – a move purely intended to rekindle the hopes and aspirations of Liberians who found unemployment a serious post-war obstacle to the meeting their needs.
Many years after its advent, and in spite of the litany of problems in a nearly investment-virgin environment, BMMC has buoyantly positioned itself as a reliable partner in progress – an undisputedly steadfast Concession committed to investing in Liberia’s future and giving hopes to communities in which it operates and beyond.
The political rigmaroles and shenanigans aside, evidences of BMMC’s devotion and unwavering determination to uphold commitment to its social corporate responsibility shrouded in the MDA abound beyond measures, as the impacts of its uplifting projects across the length and breadth of operational areas and beyond have been felt by all and sundry.
Elated by the life-changing overtures of the company – be it scholarship programs, infrastructure transformations, erection of education facilities, health initiatives and others – beneficiary Frank Kiadii equated the way BMMC is viewed in some quarter of society to the sad story of Jesus who was doing good, but yet hated by the Pharisee elites. “Where would Liberia be, where would we (people of Grand Mount County) be economically, educationally and infrastructure-wise had BMMC not taken advantage of the opportunity presented it to invest here,” he quipped, underscoring he and others’ appreciation of the Company’s incredible contributions to their communities and children.
Levelling praises on BMMC for keeping true to the Mineral Development Agreement (MDA) with the Liberian government as well as its social corporate responsibility, Mr. Kiadii tried to highlight how politics have caused setbacks to citizens on one hand and the entire country on the other hand, and when asked what he meant by that, he said “this is exactly the situation BMMC is going through. People are seeing the reality of the company’s support, adhering to its responsibilities but they have chosen to downplay it.”
These activities are not just proof of BMMC commitment to changing the investment paradigm in the supreme interest of citizens and communities of its operation areas, but how it intends to build the future for this generation and generations unborn.
Against the backdrop that no investments globally are beyond reproach, it would be foolhardy if any Liberian thinks BMMC would be as immaculate as polished diamond. Of course, not, but when juxtaposed BMMC’s contributions and achievements in line with the dictates of the MDA to the many other conditions, much is celebrated than abhorred.
Not bothered by the unceasing contentions about its operations here and there, BMMC is firm on fulfilling its obligations of positively responding to the needs of communities, setting transformative platforms for its employees and aligning with government’s development agenda – lifting Liberians from poverty and building a future so sustainably guaranteed.
For reasons known to the naysayers of BMMC’s tremendously outstanding support, the reality glaringly stands out that as a foreign investment, BMMC is dedicated to helping the domestic economy by fostering economic growth through capital, technology, and job creation. By building a more prosperous future, the Company is boosting productivity and innovation through knowledge and technology transfer, while also improving the country’s balance of payments and help fund infrastructure projects.
As Foreign direct investment (FDI), BMMC brings much-needed capital to the country, used for new infrastructure, business expansion, and other productive assets, while directly creating jobs by building new infrastructures such as factories and other facilities, and indirectly through supply chains and related businesses.
This is why protecting its interests is crucial for the nation, particularly in industries like extractive resources (mining, oil, and gas), infrastructure (roads, ports, and utilities), and tourism.
The company is building Liberia’s future by bringing this significant investment, technology, and expertise, creating jobs, generating revenue, and stimulating local economies, while also investing in infrastructure development, such as roads, ports, and utilities, which can benefit the local community and enhance economic growth.
It is incumbent upon the government of Liberia, to support BMMC’s long-term future-building goal by protecting its interests so as to attract foreign investment, thus signaling a stable and business-friendly environment. This is because under long-term partnership arrangements, concession agreements can foster long-term partnerships between governments and private companies, promoting cooperation and mutual benefit.
However, it’s essential for the government to balance the interests of concessionaires with those of local communities and the environment, ensuring that agreements are fair, transparent, and sustainable. This is the hallmark of BMMC’s operational objectives. Squarely put, by protecting the interests of concessionaires like BMMC, while ensuring responsible business practices, the government of Liberia can create a favorable investment climate, drive economic growth, and promote sustainable development.
BMMC is inarguably here to stay, helping Liberians build the future so desired and deserved, but it depends on the creation of a conducive atmosphere free of coercions, intimidations and scapegoating. Let’s give concessionaires required space to operate and expand their investments for a brightened and fortified future.