By Selma Lomax, [email protected]The Putu Iron Ore Mine in Grand Gedeh County represents one of the largest iron ore reserves in Liberia and in the world, having estimated reserves of 2.37 billion tonnes of ore grading 34.1% iron metal. Documents in FPA’s possession reveal that the Liberian government attempted entering into an agreement between the Pioneer Group LLC (PGL) to allow PGL to take over the Putu Iron Ore Mines and of its assets worth US$2 billion. NIC declines to grant Pioneer Group LLC ConcessionFrontPageAfrica has also seen a Memorandum of Understanding (MoU) signed this year between the government and Pioneer Group LLC (PGL) for the transfer of the PIOM Mining Concession to Pioneer Group LLC. Dann, Board Chief and Executive Officer of Pioneer Group LLC signed on behalf of the company. FPA gathered that the deal is being pushed through as US sanctions on Alexey Mordashov, the owner of Putu Iron Ore parent company, have put the steel magnate’s empire in peril.

Source: Front Page Africa May 29, 2024 22:41 UTC