The General Office Director of China Union Investment (Liberia) , Mr. Cloud Gao, says despite the drop in the price of iron ore globally, the company will live up to its Corporate Social Responsibility.
He emphasized that although his company has been faced with competing challenges in recent times, China Union will respect its Mineral Development Agreement signed with the Liberian government.
Mr. Cloud said since his company took over the mining concession of the former Bong Mining Company, it has been paying US$3.75 million annually to the Liberian Government as social benefits for Bong, Montserrado and Margibi counties in which it is operating.
He explained that of this amount, Bong County receives 50%, while Montserado and Margibi Counties receive 25% each.
He said the amount is paid regularly and that the company is up-to-date with all of its payments to central government for use by the three counties.
Mr. Gao said since his company commenced mining operations in July of 2010, it has also spent US$18 million to construct the Kakata- Bong Mines road and will spend an additional US$6.5 million to build the Bong Mines-Hendii road.
In an interview with the Liberia News Agency at his Bong Mines Office Monday, Mr. Gao said the Kakata-Bong Mines-Hendii road could have been completed had it not been halted due to the Ebola outbreak in the country.
He, however, revealed that construction work on the road has resumed and will be completed soon.
Mr. Gao said as part of its corporate social responsibility, his company has also renovated the Bong Mines Central High School at the cost of five hundred thousand United States dollars.
He also indicated that the China Union Management has been providing an amount of US$200,000 annually for scholarships for students from Bong, Margibi and Montserado counties since the commencement of its operations.