Bong’s China Union US$7m In Limbo?

-Promised Dam Construction

By Esau J. Farr

Bong County is poised to loss county social development fund in the tone of US$7m from the Chinese Iron Ore mining company, China Union.

A local journalist in Bong County on Wednesday morning (April 3, 2019) speaking on the Super Morning Show (SMS) on ELBC quoted county authorities as saying, ‘Bong County is poised to have a compromise on the payment of US$9m dollars owed the county by the Chinese company as part of the Mineral Development Agreement (MDA) between the Chinese company and the Government of Liberia”.

According to our source, the recent county sitting held in Gbarnga, Bong County amongst other things discussed a possible compromise between China Union and Bong County to wave seven million United States (US$7m) Dollars to the Chinese company while China Union has agreed in principles to make available US$2m dollars to the county while at the same time promising to build a mini dam for the electrification of the county.

According to the China Union MDA, Bong County is entitled to receive one million, seven hundred fifty United States (US$1.750m) Dollars annually.

However, due to the Ebola outbreak in Liberia in 2014 and the down turn reduction in the price of Iron Ore on the World Market, the company has since experienced consistent delays in the payment of the Social Cooperate Responsibility to Bong County.

It is reported that since the outbreak of the EVD in Liberia and the West African sub-region coupled with the drastic drop-in of the price of Iron Ore on the World Market, the delays in paying the due benefits of the county by the company from the company’s operation has caused the company to be indebted to Bong in the tone of US$9m which is about to be sliced to only US$2m and a promised dam to electrify the county in a long term plan. TNR

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