Monrovia — Aligning with President Joseph Nyumah Boakai's vision to revitalize Liberia's economy and combat poverty and diseases, Western Cluster Limited (WCL) has committed to contributing to the government's key growth pillars.
In a statement issued by Navin JAJU, CEO OF SESA GOA VEDANTA dated 13 June 2024, the company cited the new government's key growth pillars as macroeconomic stability and infrastructural development, health, sanitation, environment, and climate change initiatives, with which it commits to align its contributions.
It further cited human capacity development, governance and rule of law enhancement, and women empowerment, youth, children, and social protection initiatives.
Navin Jaju, CEO, Vedanta Sesa Goa, the parent company of WCL, and Christopher Griffith, CEO Base Metals, Vedanta met President Boakai and extended their greetings and congratulations for his historic election win.
WCL committed to play the role of a catalyst in fortifying the key growth pillars outlined by the new government, the statement said.
The company said it intends to invest US$2 billion in the next five years to boost the economic revitalization of Liberia.
The company planes to up production from 2 million to 15 million in all three leases, while putting up 15 million product concentration plants across the three leases and making a dedicated corridor for transportation and shipping.
Since 2011, WCL said it has contributed over $300 million towards the socio-economic development of the region.
A subsidiary of Vedanta Sesa Goa and a key player in Liberia's mining sector, WCL is set to act as a catalyst to Liberia's growth trajectory charted by the new government, the release added.
Speaking after meeting with President Boakai, Navin Jaju, Chief Executive Officer, Vedanta Sesa Goa, said: "I had an extremely fruitful discussion with His Excellency President Joseph Nyumah Boakai."
Jaju said he was grateful to President Boakai for his guidance and for his inspirational leadership in working jointly toward Liberia's progress, prosperity, and economic growth.
"We are committed to Liberia's growth trajectory & aspirations of the Liberian people, aligning with President Boakai's vision for sustainable growth through strategic partnerships and responsible operations," said Jaju.
He expressed delight in being a part of the socio-economic development of Western Liberia.
Going forward, he said they are on course for an investment of up to US$ 2 billion in WCL and aim to act as a catalyst to unlock Liberia's economic potential and empower local communities through expansion of operation, thereby, generating numerous employment opportunities.
"We are there for the progress and prosperity of Liberia and will always keep the interests of Liberia foremost. I especially thank the communities for their support and am looking forward to continued support as well."
WCL detailed that its investment of over $300 million towards the socio-economic development of the region includes substantial contributions to community development funds and critical infrastructure projects.
It continued that its ongoing initiatives include infrastructure development, community engagement, and generating employment opportunities for local communities.
Being a part of the Vedanta Group, WCL brings substantial expertise, over 7 decades of iron ore mining experience, and resources to Liberia's development landscape.
Vedanta Limited's extensive portfolio and sustainable practices in mining and metals, renewable energy, and community engagement highlight its dedication to responsible business operations.
Its best-in-class mining practices and technology will transform the Liberian mining sector into one of the most sophisticated in Africa & Globally.
"For this, WCL shall be supported by the employees and Business Partners from Liberia, whom WCL will be upskilling through technical and vocational training," the release said.
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At the heart of WCL's operations is a commitment to environmental stewardship and inclusive growth.
Upholding Vedanta's core values of Environmental, Social, and Governance (ESG) responsibility, WCL prioritizes community welfare, environmental conservation, and workplace safety and diversity.
WCL noted that it has been contributing towards the Community Social Development Fund and implemented community welfare initiatives such as the construction of concrete bridges, repair of Handpumps & New Handpumps, village road repairs, provision of fuel supply to Ambulance for quick movement of patients and community engagement through various programs.
In late April this year, President Boakai threatened to cancel Western Cluster Mining Company's deal because it extracts the nation's resources, damages the roads, and leaves no benefits for the people.
Mr. Boakai announced his plan at Suehn Mecca District in Bomi County on Tuesday, 30 April 2024, during a chat with Public Works Minister Roland Giddings while embarking on an inspection of roads across Liberia.
