Heritage (Monrovia)

21 March 2014

Liberia: Multi-Billion Dollar Company Seeks Partnership With GOL

A high-profiled team from the West Africa Exploration (WAE) on Thursday, March 20, 2014 made a formal presentation to the Inter-Ministerial Concession Committee at a one-day forum held at the Royal Hotel in Sinkor Monrovia.

The one-day forum was also attended by several high ranking officials of the Liberian Government, including the Minister of Lands Mines & Energy, Patrick Sendolo, the Minister of Transport, Tornorlah Varpillah and the Chairman of the National Investment Commission & Chairman, Inter-Ministerial Committee On Concession, Michael Wotorson.

The forum came barely four months after the landmark entering into the Memorandum of Understanding (MoU) between the Government of Liberia(GOL) and Aim-listed Stock Exchange Exploration Company; Sable Mining Africa's 80%-owned subsidiary West Africa Exploration SA (WAE) with the aim of developing infrastructure for its Nimba iron-ore project in south-east Guinea.

The WAE presentation constituted a concrete further encapsulation and manifestation that would objectively enable the parties to conduct technical due diligence, third-party discussions and negotiations with a view of entering into the binding infrastructure development agreement relating to WAE's development, use and operation of rail and port infrastructure in Liberia to export iron-ore products from the Mount Nimba project.

Sable Mining/WAE notes the epoch-signing of the MOU as significant step for WAE, as the company anticipates the commencement of the production of low-cost, high-grade direct shipping ore at Nimba in 2015, which the WAE views as also a milestone that is thrust on a strategic Pan African-inspired vision that seeks to bolster strong socio-economic cooperation and integration between Liberia and Guinea in the Mano River Union basin.

WAE, which is a multi-billion company, is of the anticipation that given Liberia and Guinea's long historic and cultural ties, it looks forward to working with the Government of Liberia to further stimulate a critical public-private partnership for the social and economic advancement of the two peoples and countries.

WAE is optimistic that it can be a vibrant partner to Liberia huge reconstruction and development aspirations once the final T's and crossed and I's carefully and mutually dotted that will evidently set in motion the development, use and operation of the relevant infrastructure in Liberia as soon as possible.

Remarkably, WAE intends to benefit from an existing Bilateral Agreement between Liberia and Guinea that authorizes the transport of iron-ore from the Nimba project, in Guinea, through the port of Buchanan in Liberia.

Already, the bilateral agreement has been implemented for projects involving companies in the area of the Nimba project, including the SMFG joint venture project, to promote economic growth, as these companies are less than 60 km from the rail line at Yekepa, Nimba County in southwestern Liberia.

It could be recalled that on October 7, 2013, the Government of the Republic of Guinea issued the export decree ostensibly authorizing the mining company to export iron-ore produced at its Nimba project through Liberia's second largest Seaport in Buchanan.

WAE anchors its new Pan African-styled economic frontier along the fringes community-incensed social development intervention and impact aimed at changing lives and making that key fundamental difference.

WAE's scope of operations extends into seven villages spanning over a population of 25,000 inhabitants.

Through its Pan African driven socioeconomic partnership concept WAE, reckons strong collaboration with the Government of Liberia in the fight against poverty and stands as a towering partner in harnessing the prospects for prosperity, growth and development.

Communities-led projects for improved livelihoods will inform WAE's practical engagement for changing lives through sustainable employment opportunities.

Undoubtedly, the government there will be benefits in terms of indirect taxes to the government. WAE will potentially be a driving force behind a top to bottom approach that will allow the company's direct active engagement with host communities based on a culture methodology of local ownership for sustainable development.

WAE believes as a matter of philosophy that there should be a consistent preserve of the Environment thereby ensuring its user-friendliness and intends to remain compliant within the confines of the Environmental Protection Laws of Liberia.

Based on exceptional exemplary as necessary, WAE will vigorously undertake social development-centered projects as already manifested by the renovation of schools in its Guinea Project locales - the provision of incentives such as school buses for disadvantaged rural youngsters who are also future leaders.

Ardent recognition of ecological preservation to enhance and add value ecotourism shall remain a top priority for WAE. A key component of WAE's agenda is the promotion of healthcare, sanitation, provision of safe-drinking, etc.

WAE shall seek to remain fully engaged with critical stakeholders across the broad spectrum, engage community in management of their environment, tackle road building and improve infrastructure, be forthcoming in safe-guarding forest, wildlife preservation for long-term sustainability, engage the communities to develop the passion for and promote agro-based activities for self-sufficiency. WAE shall work with communities and encourage cross-cultural pollination of various integration approaches will be employed by WAE to empower communities champion and drive their own sustainable growth and economic prosperity.

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