Putu Iron Ore Mining Recommits To MDA

The Management of the Putu Iron Ore Mining Company (PIOM) has reassured the government and people of Liberia that it remains committed to the implementation of the Mineral Development Agreement (MDA) it signed with government.

The PIOM Management clarified that although in the last few months its activities have been reduced it has not closed down its operations, as rumored in recent times. The scale down in operations was attributed to the Ebola outbreak.     The company gave the assurance that it will continue to meet its obligations to government and communities impacted by its operations.

The PIOM Management in the statement said that it was giving the reassurance because the scale-down in its operations in the last few months has been misinterpreted as closure. The Management stressed however that the company has been beset by unforeseen circumstances which have negatively impacted the project and resulted in delaying implementation.

The PIOM Management made specific reference to the current Ebola outbreak in the country, which has continued to hamper normal working activities in the country, and a steep decline in the world market price for iron ore which is impacting iron ore investments not only in Liberia but worldwide.

With the level of progress attained in combating the EVD, coupled with the Liberian Government’s efforts to stimulate the economy in particular, the mining sector, PIOM anticipates resuming operations in the shortest possible time.