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Liberia Mining sector is   a potential engine for economic growth

Mining
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  Liberia has a rich endowment of potential   mineral resources which need to be capitalize to create wealth and grow a healthy microeconomic. According to the world bank Liberia country report   released in  October this year, economist  indicated that  Liberia mining sector grow  by 7%, as compared to the non-mining sector such as agriculture and manufacturing  which declined by 3-4%. This revelation   by the world bank Liberia   signified that the Mining sector of Liberia has the overwarming potential to be an engine of economic growth. In buttressed of the world bank  report the minister of Mines and energy  Gusler murry  commended the world bank team in Liberia for  appreciating t he  efforts  of the Government  “ adding  the report  clearly signified a  key strategy of…

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Tietto Minerals hits high-grade gold,  Optimistic of Liberia Project

Mining
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The results confirmed a high-grade extension along the strike and depth of the project’s Abujar‐Gludehi deposit. The company’s enterprise value continues to be reassessed as the spot gold price rests at US$1,494 an ounce Tietto Minerals Ltd (ASX:TIE) has returned high-grading gold intervals and standout intercepts such as 21 metres at 13.02 g/t from a high-grade zone at Abujar Gold Project in Côte d’Ivoire, West Africa. The encouraging intervals were returned from drilling at Abujar‐Gludehi (AG) deposit at Tietto’s 1.7-million-ounce Abujar project. Apart from the notable 21-metre intersections from 215 metres, other key intervals were: 10 metres grading 7.21 g/t Au from 115 metres; 7 metres grading 12.41 g/t Au from 174 metres; 27 metres grading 2.30 g/t Au from surface; and 23 metres grading 3.22 g/t Au from 14 metres. “Cracking intercepts” Tietto managing director Dr Caigen Wang said: “Our drilling at AG continues to deliver cracking drill intercepts that are shallow, wide and high-grade, ticking…

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GN Bank, Forex Bureaus Sign  Mutual Agreement

Business
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The Groupe Nduom Bank (GN Bank) Liberia Limited, one of the country’s fastest growing banks, and the National Association of Foreign Exchange Bureaus of Liberia (NAFEBOL), have signed an  mutual partnership agreement  to promote access to finance. “We know how much people use this service for transaction. We are glad to have entered this partnership with the belief that it will benefit both institutions,” Madam Rhonda R. VonBallmoos, the bank Deputy Managing Director for Client Services and administration, said. The agreement was signed on Tuesday, November 26 at the head office of Bank (GN Bank) Liberia Limited on Broad Street, and witnessed by the leadership of NAFEBOL, and staff of the bank. According to the agreement, the association will now serve as a partner for…

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Take Advantage of Liberia’s Rich Natural Resources

Mining
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  Monrovia, Liberia:Liberian  president . George  Weah  has reinterated  his  called on  investors desire  to do Business in liberia  to   take adventage  of the Country’s vast natural virgin  resources weah said though  Liberia is the oldest African Republic, much of the country’s natural resources remain virgin, untapped and it would be mutually beneficial for national and international investors to partner with Government to make prudent use of the countries’ rich resources. Dr.   Weah who  re-assured investors   of the Liberia’s   condussive business enviroment   said liberia has almost 90%  of the world attractive Menerals  and that   his country is open and ready for business. The liberian chief execultive  made the statement recently  when he   addressed the  former  opening of the Liberian International Mining, Energy and Petroleum Conference &…

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Lawyers  seek  Ezzat Eid Arrest 

Criminal Case
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          Lawyers representing two Lebanese nationals, Salah Farhat and his son Tamer, are seeking the authorization of Criminal Court ‘C’ in Monrovia to arrest Ezzat Eid, former president of the World Lebanese Cultural Union (WLCU). In February of this year, Eid accused the Farhats of stealing US$1.3 million from the coffers of the Tayo Motors Company, where Salah served as managing partner, and Tamer as the assistant managing director. Later, the Farhats were charged with money laundering, theft of property, misapplication of entrusted property, and criminal conspiracy, charges which the defense team is now seeking to have dismissed. Based on Eid’s complaint, then Criminal Court ‘C’ Judge Blamo Dixon, ordered the Farhats’ imprisonment at the Monrovia Central Prison immediately after Salah…

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Senate Extraordinary session Awaite President Weah Return

African Politics
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President Pro Tempore of the Senate, Albert Tugbe Chie on Monday, November 18, 2019, informed  Reports that the Legislature is awaiting a proclamation from President George Weah for their possible return next week. He confirmed that his office has received a letter from the President, requesting the lawmakers’ return for ‘extraordinary session’ which would run up to December 11, 2019. Protemp Chie clarified reports that lawmakers, especially the Senators, have already signed a resolution for their return, which was earlier scheduled for yesterday (midday). “Firstly, we could not meet today (yesterday), because a good number of our Senators are currently visiting their constituencies, and it will take time to get them here easily; secondly, we are yet to receive proclamation from the President, which will…

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“Liberia is a Great Business Destination,”  Weah Excites Trade Gurus

Business
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Pres. Weah Meets Sheikh Mohammed bin Rashid Al Maktoum Photo Credit: Executive Mansion (Dubai, United Arab Emirates): His Excellency Dr. George Manneh Weah, from France in Europe and now in Dubai in the Middle East, has been marketing Liberia’s rich investment climate and wooing some of the world’s major investors to take advantage of his administration’s patronizing policies. Speaking to an assembly of international investors, entrepreneurs and governments Monday, November 18, 2019, President Weah noted that his administration has re-worked Liberia’s trade and commerce ecosystem, making it ideal and perfect for serious investment. He unveiled Liberia’s vast natural resources, including timber, iron ores, rubber, gold, diamonds, fertile soil and favorable climatic conditions, which he said are underpinned by his government’s anti-graft policy and zero tolerance for…

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Avesoro reports third-quarter loss, but maintains full-year output guidance

Mining
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Operational issues and lower production at both its African gold mines negatively impacted on TSX- and Aim-listed Avesoro Resources’ financial performance in the third quarter ended September 30, pushing the miner into a loss. It reported a loss before interest, taxes, depreciation and amortisation of $4.7-million for the quarter under review, compared with earnings before interest, taxes, depreciation and amortisation of $2.1-million in the second quarter of the year The company’s majority shareholder Murathan Gunal noted in a statement on Thursday that he would continue to provide financial support, as the company requires, for continued operation, while the effects of transitioning to contractor mining and other cost saving initiatives normalise. The company still expects to produce between 140 000 oz and 145 000 oz of gold from its…

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Guinea’s Nimba iron-ore project gets green light to export via Liberia

Mining
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  BY: REUTERS CONAKRY– Guinea and Liberia signed a deal on Friday to allow several mines in Guinea, including the giant Nimba iron-ore project, to export through Liberia, officials from the West African countries said. The logistics of transporting tonnes of raw materials to port from mining sites in remote parts of Guinea has been a major hurdle for prospective developers of the country’s vast mineral wealth. The agreement, which builds on an initial memorandum of understanding signed six years ago, is a victory for US-Canadian investor Robert Friedland‘s HPX, which last month acquired Nimba, a high-grade deposit in southeast Guinea. “The mining projects in question are near the border with Liberia and cannot be profitable if they export through Guinea’s coast,” Guinea’s Mines Minister Abdoulaye Magassouba told Reuters. A graphite project owned by…

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Liberian Flag Ship Floats Off The Coast Of France, Report Says It Is Secretly Exporting Millions Of Barrels Of Oil

Maritme
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  HOUSTON – The Dragon, a massive oil tanker flying the Liberian flag, is supposed to be floating somewhere off the coast of France, according to its last GPS signal. Instead, it’s currently thousands of miles away in Venezuela where, under contract for the Russian state-oil giant Rosneft Oil Co. PJSC, it loaded 2 million barrels of oil, according to data compiled by Bloomberg and shipping reports. How’s that possible? Because the ship’s transponders were turned off before it slipped into Venezuelan waters, the data show. The practice of oil tankers turning off their location signals has increased in the past month, according to shipping data, after the U.S. went after a Chinese-owned shipping company it said was moving crude for sanctioned Iran. The U.S.…

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