MONROVIA–The Ministry of Mines and Energy has mandated the YBMC Exploration Tenement to resubmit all report in accordance with the mineral regulations if it might be awarded another extensional time to operate.
The company was given a 16 month extension in 2019 to regularize its status as well as file all necessary and supporting reports or documents, an extension that is expected to end this June without the company’s meeting the agreement.
Emmanuel Sherman, Deputy Minister for Operation at the Ministry of Mines and Energy noted that there had not been sufficient work done by the company to warrant another extension.
Sherman claimed since the ushering of the George Weah led Government two years ago, YBMC Exploration Tenement is yet to comply with the regulation by filing a single report, something that was disproved by the Chief Executive Office of the company.
He spoke Tuesday, May 18, 2021 during a presentation of resource potential of the YBWC Exploration Tenement by Stephen Haggerty, Chief Geologist held at RLJ Hotel in Kendejah.
The Deputy Minister said while the ministry is again willing to award another extension with condition, it cannot be done in the absence of the report; something that will lead to any decision going forward.
YBMC CEO seems troubled about the potential future of the company, judging from the statement by the MOME official which he term as politically motivated.
Roger Youssef expressed frustration over the Minister’s request on grounds that it totally lacks basic experience noting that there is a whole different education when it comes to exploration.
According to him, YBMC is indenting to open the first ever diamond mine in Liberia and if denied, the opportunity and another company take over, Government will be burying the potential wealth of the nation.
Youssef further stated that Liberia has the largest kimberlite dirt in the world that should be looked at as the wealth of the nation and at such, should not be buried.
He wants this to be approved and supported by all, especially central government saying; “This is to generate billions of dollars, that the country needs.”
Meanwhile, the presentation witnessed the presence of YBMC executives, officials of Mines and Energy as well as other stakeholders in the sector.