A Chinese company, Bao Chico Resources, has asked the Government of Liberia to grant it a 25-year Class A mining license to extract iron ore. Since then, the iron ore concession – the area where the ore mining was done – only boasts of idle machines gathering rust. The Legislature has again started the process of ratifying another Mineral Development Agreement (MDA) with a Chinese Company, Bao Chico Resources Liberia Limited. Granted that the terms of the deal would depend in part on the specific iron ore deposit -- the location. The Mineral Exploration of the entity is owned by Bao Chico Resources, Liberia Ltd., which is 100% owned by Bao Chico Resources.

Source: Daily Observer September 01, 2021 08:26 UTC