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-244- TABLE 16 CHRONOLOGY SUMMARIZED HISTORY OF B.M.C 1935 Discovery of iron ore deposits in the Bong Range 1957 Geological Surveys of the Bong Range by Gewerkschaft Exploration 1 958 Surface prospecting and ground magnetic surveys by Gewerkschaft Exploration Concession Agreement with Gewerksehaft Exploration/ DELIMCO Incorporation of DELIMCO 1961 Formation of Bong Mining Company Participation of Italian steel works in B.M.C 1962 Assignment Agreement between DELIMCO and B.M.C. Consulting Agreement between B.M.C and Gewerkschaft Exploration (amended 1965) 1962/1965 Construction Period 1 964 Pricing Arrangement for concentrates and pellets Financial Agreement between DELIMCO and B.M.C 1 965 First shipment of concentrate 1 966 New pricing arrangement for concentrates and pellets 1 967 First extension of the Concentrator 1 968 Start corporate income tax payments New pricing arrangement 1969 Second extension of the Concentrator 1970 Improvement of facilities for ore-carriers In the Freeport Construction of a blending plant for crude ore Extension of the power plant Agreement between the German steel works and the GoL 1971 Completion of the first pelletizing plant 1 972 Third extension of the Concentrator Further extension of the power plant as well as of other facilities 1 973 Extension of ore storage capacity at Freeport 1974 Merger of DELIMCO with B.M.C into Bong Mining Company Revision of the 1958 Concession Agreement 1 975 Start of a $ 120 million extension programme 1976/1977 Construction of a second pelletizing plant
-245- S ources: - "Technical Information", pamphlet published by B.M.C, Bong Range, Salala District, Bong County, Liberia, December 1976 (pp.3 and 4); - Information Pamphlet "Bong Mine" published by the Information & Public Relations Department, Bong Mining Company (Undated; probably published in 1976); - Concession Secretariat, Ministry of Finance, Monrovia. <strong>The</strong> Dutch had already joined in 1972 through the merger of Hoesch A.G. and the Dutch steel company of "Hoogovens" into "Estel". In 1976 yet another change in ownership occurred when the German Steel Company of August Thyssen-Hutte, the largest single private shareholder in B.M.C. acquired Rheinstahl A.G. (including its 5-4 ? interest in B.M.C.) through its 100? subsidiary of Thyssen - Industrie A.G. Lastly, in 1975 the Iranian Government had bought a substantial portion of the shares of Friedrich Krupp Huttewerke, owner of 8.6? of B.M.C. 's Class B Common Stock, (see Chart 3 "Ownership Structure of B.M.C. as of December 31, 1977"). Exploration und Bergbau (formerly Gewerkschaft Exploration) plays an important role in the mining company. Under the Consultancy Agreement of August 1, 1962 Gewerkschaft Exploration already handled all work in connection with the Bong mine which was not undertaken in Liberia, e.g. investment planning and control; tendering, the signing and supervising of contracts; recruitment of ex-patriate labour; accounting and bookkeeping; financing and management of funds outside Liberia. In 1965 the original agreement (of 1962) - under which a fee of 7>5 cents per ton of shipped concentrate was paid for these services - was substituted by an arrangement which provided for only the reimbursement of actual costs of these services whereas Gewerkschaft Exploration was(by the same agreement) charged with all work concerning the planning, construction and operation of the first pelletizing plant (which started operations in February 1971), Actual expenditures made on behalf of B.M.C. were considerable and were equivalent to 32.4 cents per metric ton or 1.6? of sales revenue in 1976 (99). Exploration und Bergbau is a non-profit organization and a service company to the German steel industry, providing services to both B.M.C. and the "Konsortium Liberia" (for which it is reimbursed at cost.-This reimbursement does not include a profit margin - unlike Granges/LAMCO and M.M.A.L./N.I.O.C.). It holds the shares in B.M.C. on behalf of the German steel companies participating in the Konsortium Liberia. Exploration und Bergbau also acts as B.M.C.'s agent for sales to the German buyers but B.M.C. does not pay commission on sales to affiliated companies and as sales to non-affiliated companies are insignificant the costs of sales are virtually limited to the payment of sampling fees. In the 197O's these fees averaged about $ 150,000.00 per year in the case of Exploration und Bergbau and nearly $ 60,000.00 per year for Italsea, B.M.C.'s Italian agent for sales to Italian buyers. Contrary to Exploration und Bergbau Italsea is not affiliated to the private investors in Bong (100).
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VEROFFENTLICHUNGEN AUS DEM UBERSEE-
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i 1 THE OPEN DOOR POLICY OF LIBERIA
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DE.B1CA710N For £IA. Together we s
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Vll CHAPTER 3: (continued) Page The
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ix CHAPTER 9: THE FORESTRY SECTOR P
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Footnotes Annexes Bibliography Inde
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xiii National Iron Ore Company, the
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XV China at the end of the 19th cen
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xvii economically more developed co
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XIX blancs, dans le developpement d
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XXI des Liberiens de toutes les cla
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xxiii DE OPEN DEUR POLITIEK VAN LIB
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XXV deze scheiding tussen kustgebie
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personeel - niet opgewassen was en
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\ I.M.F. i \ INTRUSCO i i j I.T.C.
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xxxi LIST OF FIGURES, MAPS, CHARTS
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TABLES (continued) Page 33 Planned
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XXXV TABLES (continued) 68 Exports
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II century, notably the Open Door P
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IV earth in Liberia. It had been th
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VI Tubman was very well aware of th
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VIII MAP 1
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exporters. It has attracted more th
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XII the more so, since no comprehen
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XIV development of rural Liberia, i
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XVI Firestone's financial contribut
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XVIII officer who had served in Lib
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XX Chapter 11 pays attention to one
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CHAPTER 1 THE PEPPER COAST BEFORE 1
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-3- "Malagueta Coast" or "Pepper Co
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-5- embarrassment towards a (growin
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in honor of the 5th President of th
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Numerous colonists from the U.S.A.
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-11- Figure 1
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-13- The'vicious circle started wit
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-15- the other - to the disadvantag
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-17- Of the colonists notably the A
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-19- The closing of the Door: The E
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-21- Consequently, both tribal peop
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The Roye Administration -23- The te
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-25- He also wanted the general edu
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-27- territory Liberia claimed by E
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m -29- The commission created in 18
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-31- re-activating the first conces
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-33- European. Its expense paid Ly
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-35- Treasury and an unfavourable e
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-37- their salaries. The resulting
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-39- Therefore President Howard of
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j -41- :j % One of the recommendati
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-43- twentieth century the Presiden
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-45- The British and French absence
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-47- In December 1923 the first mis
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-49- and he proposed the constructi
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-51- itself, upon acceptance of the
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-53- equal to 4 per cent of the cou
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-55- between the U.S.A. and Liberia
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-57- Government of Liberia agreed w
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-59- The expansion of the governmen
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-61- Another disagreement arose ove
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] -63- J Notes: ? : :i (1) Fireston
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-65- question had never been adequa
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-67- had varied from $ 8 million to
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-69- In order to protect the new co
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-71- capacity of 55,000 tyres, requ
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J -73j :i quantities of dry rubber
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-75- The charge of 3.44 cents per p
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-77- Finance in the 1970's, but owi
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-79- Planting Agreement was in Akro
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-81- on the basis of competitive pr
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-83- with the 7iresione Plantation
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-85- 1. Organization of a national
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-87- However, before he could reali
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-89- operation of the plantation. T
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j -91- i have taxed the portion of
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-93- in 1947, but also entrusted hi
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-95- company's main interest is no
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-97- poration for the period 1963 -
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-99- TABLE 4 LIBERIA COMPANY'S DIVI
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-101- 6 cents per acre had to be pa
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The Port near Greenville -103- Afte
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-105- rubber. Little is known of th
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-107- the management of the company
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j -109- } S taxes or imposts of any
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-111- The concession agreement, wit
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-113- concluded with other foreign
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-115- which is owned by a political
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-117- owners of the concession. The
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-119- eleven persons were: Vice-Pre
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-121- tain rights in cooperation wi
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-123- It is significant that despit
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-125- scribed above., providing suc
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-127- materials, the rights of the
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-129- the possibilities offered by
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I -131- sion, and sales to affiliat
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-133- concession area of 100,000 ac
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-135- such payments out of profit,"
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-137- tually all of these companies
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-139- The 1898 concession agreement
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-141- Normann, from England, which
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-143- to the English "Providence Mi
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-145- the company had in previous y
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-147- of "Globex Minerals (inc.)",
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-149- the excess acreage (38) does
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-151- old Tchien and Gbaepo Distric
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-153- only two of them referred to
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-155- not provide for a price of go
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-157- Meanwhile, the exploration ac
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-159- The excessively liberal terms
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-161- a concession for gold, diamon
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-163- difficulties which had to be
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-165- of 50? and which was of direc
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-167- The concessionaire became exe
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-169- These statements of the two s
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-171- Note that until i960 L.M.C.'s
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-173- salaries to ex-patriate perso
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-175- the - increased - capacity of
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-177- '••:] Sales Agreement bet
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-179- On January 3, 1963 a Memorand
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-181- L.M.C. would have acted in co
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-183- area described as the Bea Mou
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-185- Agreement signed by represent
Page 245 and 246:
-187- geologists, economists and la
Page 247 and 248:
CHRONOLOGY SUMMARIZED HISTORY OF L.
Page 249 and 250:
-191- N.I.O.C. dated January 1, 196
Page 251 and 252: Year 1962 1963 1964 1965 1966 1967
Page 253 and 254: -195- for further details of the 19
Page 255 and 256: -197- soon demonstrated by the call
Page 257 and 258: -199- of 3.2 million long tons in a
Page 259 and 260: -201- TABLE 10 FINANCIAL OBLIGATION
Page 261 and 262: -203- achievements were made in spi
Page 263 and 264: -205- After the change of the name
Page 265 and 266: -207- to concentrate on the new fin
Page 267 and 268: -209- one steel factory, in the cou
Page 269 and 270: -211- The Liberian Government owns
Page 271 and 272: -213- 1952, legal ownership of abou
Page 273 and 274: -215- Th is second part of the conc
Page 275 and 276: -217- one of its sixteen Swedish su
Page 277 and 278: -219- For these services G.I.M. is
Page 279 and 280: -221- Prior to 1974 fifty per cent
Page 281 and 282: -223- depreciation of (capital) equ
Page 283 and 284: -225- of the revision of the 1960 M
Page 285 and 286: i -227- 3 prescribing such a review
Page 287 and 288: -229- But now, having accepted bein
Page 289 and 290: -231- As a result of this review in
Page 291 and 292: -233- TABLE 14 FINANCIAL COSTS OF C
Page 293 and 294: DELIMCO/B.M.C. -235- Long-standing
Page 295 and 296: -237- equity participation (unlike
Page 297 and 298: Year 1965 1966 1967 1968 1969 1970
Page 299 and 300: -241- these funds to B.M.C. in the
Page 301: -243- negotiations which were held
Page 305 and 306: -247- Prices of sales to affiliated
Page 307 and 308: S ource: -249- TABLE 17 INVESTMENTS
Page 309 and 310: -251- due time a mining concession
Page 311 and 312: -253- The 1967 concession agreement
Page 313 and 314: -255- Changes of the concession agr
Page 315 and 316: -257- Some reasons why the Wologisi
Page 317 and 318: -259- CHAPTER 9 THE FORESTRY SECTOR
Page 319 and 320: -261- Surveys of Liberia's Forest P
Page 321 and 322: -263- (see below) repealed the port
Page 323 and 324: -265- were authorized to issue perm
Page 325 and 326: -267- TABLE 18 LIBERIA'S NATIONAL F
Page 327 and 328: -269- The Forestry Development Auth
Page 329 and 330: -271- TABLE 19 TIMBER CONCESSIONS G
Page 331 and 332: -273- TABLE 20 PRODUCTION OF TIMBER
Page 333 and 334: -275- Souree: - Annual Report, Depa
Page 335 and 336: -277- Attempts To Establish A Natio
Page 337 and 338: YEAR 1967 1968 1969 1970 1971 1972
Page 339 and 340: -281- As a consequence the export v
Page 341 and 342: -283- December 31, 1977 Liberia lev
Page 343 and 344: Botanical Name Category 1 Ent, cyli
Page 345 and 346: -287- these 33 companies; year of s
Page 347 and 348: -289- were also the principal share
Page 349 and 350: -291- alleged corruption involving
Page 351 and 352: -293- It is important to note here
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CHAPTER 10 -295- FISCAL PERFORMANCE
Page 355 and 356:
-297- expenditures in the period pr
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-299- In these years the debt servi
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-301- TABLE 28-A COMPARATIVE STATEM
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-303- the second half of the 1930's
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-305- first to benefit from this U.
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M -307- •' \ •:i TABLE 30 fSS]
Page 367 and 368:
-309- Government Revenues 1941 - 19
Page 369 and 370:
TABLE 31-B MAIN SOURCES OF DOMESTIC
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-313- situation renders the Treasur
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-315- The trend of public expenditu
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-317- •• \ During the 1950 's t
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-319- $ 117 million were due for re
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-321- In 1943 Liberia and the U.S.A
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Sector -323- TABLE 33 PLANNED EXPEN
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Type of Assistance I. Economic Asst
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THE 1963 - 1978 PERIOD Revenue Perf
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Year 1963 1964 1965 1966 1967 1968
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Year 1963 1964 1965 1966 1967 1968
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1963 1964 1965 1966 1967 1968 1969
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-335- of the Ministry of Finance wh
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-337- Development Planning and Expe
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1.1 Agriculture 2.1 Rural Roads 2.2
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-341- The Plan which was approved b
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-343- "Uhile the performance of the
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-345- TABLE 43 PLANNED DEVELOPMENT
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-347- The unenvisaged expenditures
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-349- Under the revised Plan total
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1964 1965 1966 1967 1968 1969 1970
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Note: (1) Preliminary figures. Auth
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-355- Bushrod Island; a new bridge
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-357- TABLE 51 U.H. ASSISTANCE TO L
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-359- happened in a haphazard way.
Page 419 and 420:
-361- The (investment) activities o
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-363- '••] the most organized a
Page 423 and 424:
-365- exploited this situation by s
Page 425 and 426:
-367- all offered staff positions o
Page 427 and 428:
-369- allied to the Tolbert clan bu
Page 429 and 430:
-371- history, secrets and traditio
Page 431 and 432:
-373- At the time of the arrival of
Page 433 and 434:
-375- The very few books which inde
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GOVERNMENT. MISSION. PRIVATE. TRIBA
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-379- TABLE 54 1962 POPULATION AND
Page 439 and 440:
-381- about 19,000 were between 5 a
Page 441 and 442:
-383- Liberia College in 1862. Elem
Page 443 and 444:
-385- mark of 70$. This shocking an
Page 445 and 446:
-387- The 1978 National Education S
Page 447 and 448:
-389- TABLE 58-B SCHOOL ATTENDING P
Page 449 and 450:
-391- TABLE 60 A. NUMBER OF STUDENT
Page 451 and 452:
-393- It seems likely that the rela
Page 453 and 454:
-395- Author's research based on th
Page 455 and 456:
CHAPTER 12 -397- TRANSPORTATION AND
Page 457 and 458:
-399- It thus facilitated the immed
Page 459 and 460:
-401- how many people were employed
Page 461 and 462:
GEOGRAPHICAL DISTRIBUTION OF COUNTY
Page 463 and 464:
-405- in Liberia was owned, finance
Page 465 and 466:
-407- TABLE 65 ABSOLUTE AND RELATIV
Page 467 and 468:
-409- were politically well covered
Page 469 and 470:
-411- railroad which, with the exce
Page 471 and 472:
-413- the concession sector (LAMCO)
Page 473 and 474:
-415- 5 seater twin-engined Cessna
Page 475 and 476:
-417- Besides, this segment of the
Page 477 and 478:
-419- The telecommunication relay s
Page 479 and 480:
-421- with Germany and hence affect
Page 481 and 482:
-423- :: The 1960 - 1979 Period j F
Page 483 and 484:
-425- with Sierra Leone is less tha
Page 485 and 486:
-427- alarming (see Chapter 10), th
Page 487 and 488:
-429- structural changes and the de
Page 489 and 490:
-431- from roughly one third in 197
Page 491 and 492:
-433- by Fouad Khalifa, a Lebanese,
Page 493 and 494:
-435- The Government indebted itsel
Page 495 and 496:
-437- a very large part of G.D.P. i
Page 497 and 498:
-439- to the distribution of power,
Page 499 and 500:
-441- heard. As early as 1830, but
Page 501 and 502:
-U3- was wrongly thought in those d
Page 503 and 504:
-445- 1962. In the 1950's the triba
Page 505 and 506:
-447- Tubman Estate (66). Interesti
Page 507 and 508:
-449- National Legislature, This de
Page 509 and 510:
-451- The creation of state owned c
Page 511 and 512:
-453- respect to foreign concession
Page 513 and 514:
-455- II. The Government of Liberia
Page 515 and 516:
-457- Most notable among these clau
Page 517 and 518:
-459- ADDENDUM On April 12, 1980, a
Page 519:
ISBN 3-88299-040-6 ISSN 0344-4317
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