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Liberia: Land & Mines Rues in Diamond Dispute
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The Inquirer (Monrovia)
27 March 2008
Posted to the web 27 March 2008
The Ministry of Land Mines and Energy, has handed down its ruling into the long standing dispute between the Mano River Resources and the Yusuf Mining Company over a disputed diamond blocks.
For some now, the two mineral companies have been at loggerheads over the disputed diamond block located in Grand Cape Mount.
But in its ruling into the matter, the Ministry of Land and Mines said the Yusuf Mining Company has the right of entitlement over the disputed block.
Land Mines and Energy Minister Eugene Shannon, said the ministry's ruling was passed in the presence of the presidents of the two mining companies, their legal counsels and the ministry's technical team that probe the dispute.
Minister Shannon said during the probe, they discovered that Mano River Resources had encroached on the diamond block.
Minister Shannon said in order to reduce the tension between the two companies and to harmonize the situation, the ministry resolved on implementing three options as the way forward.
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He identified these options as the need for the two companies to form a partnership; that Mano River Resources be given the option of buying the property from the Yusuf Mining Company and lastly, that the Yusuf Mining Company be carved out of the Mano River Resources.
According to him, the two parties have agreed on these decisions byt they have been given a one- week period to reach an agreement and submit their decision to the ministry.
Following the ruling, the boss of Yusuf Mining Compnay Mr. Rogers Yusuf expressed satisfaction over the ruling and hailed the ministry for the intervention. He said the ruling signal that investors' rights can be protected under the laws of the country.
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