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MNG Gold Takes Over Mining Rights of Amlib in Bong
Date Uploaded: Jun 02, 2014

Project Geologist of the Turkish mineral company, MNG Gold, Mr. Ben Sayeh

 

 

MNG Gold Takes Over Mining Rights of Amlib in Bong
By Ballah Kollie, LINA Bong County Correspondent

GBARNGA, June 1 (LINA) - The Project Geologist of the Turkish mineral company, MNG Gold, Mr. Ben Sayeh, has disclosed the company’s takeover of
the mining rights of Amlib Liberia in Kokoya District, Bong County.

Mr. Sayeh told the Liberia News Agency recently that the takeover was consummated April 15, but declined to say the value of the transaction for corporate reasons.

He said the MNG Gold also does construction of processing plants, roads and ports, and operates in a number of countries, including Turkey, Algeria and Saudi Arabia.

 

He said the company’s initial priority will be to rehabilitate a total of 40 kilometers of feeder roads in the company’s licensed area and improve the bridges.

The company, he said, will also build a sterilization plant and work on relations between the company and locals.

According to him, the company has completed exploration of the licensed area and upon finalization of its mining plans, will begin the extraction of gold for export.

MNG Gold inherits the right to mine 410,000 ounces of unprocessed gold discovered by Amlib Liberia during its exploration period.

He noted that the Mineral Development Agreement (MDA) provides that one percent or a monthly contribution of US$1,000 or US$12,000 per annum will be the county’s benefit.

He noted that the firm recently paid US$24,000 to Government and remains committed to settling US$12,000 it still owes the people of Bong County.

Amlib Liberia began operations in 2002 when it signed the MDA with government to mine gold in the county for 25 years.

LINABMK/TSS/PTK

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