Investment

LEC Signs 5-Yr. Management Contract With Canadian Firm

Liberia Electricity Corporation or LEC is expected to sign a 5-year Management Contract with Manitoba Hydro Electric Power of Canada.

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Foreign Firm Reports Huge Oil Potential

Simba Energy Inc. advises it has submitted its Oil Seep Survey Report for the Field Reconnaissance Work undertaken in January, 2010, to the National Oil Company of Liberia (NOCAL), in accordance with requirements in its Onshore Hydrocarbon Reconnaissance License NR-001.

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Liberia, Brazil To Promote Mining, Energy Cooperation

Liberia and Brazil have agreed to promote cooperation in the areas of energy, mining and education, as both countries take steps to jumpstart longstanding relations.

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Guinea Wants Rail Link With Yekepa

The Prime Minister of Guinea is giving his support to the construction of his rail link between his country and Liberia for the lifting of iron ore to the world market.

Jean Marie’ Dore’ told a New Dawn interview in Conakry recently that a debate is on-going in Guinea for the construction of a rail links between Mount Nimba in the northeast and Conakry in south and that of the same area and Yekepa in Liberia.

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Sime Darby Plants Palm Seeds

Malaysian Oil Company, Sime Darby, which has been in Liberia since 2009 for 800 million dollars investment, has begun serious business.

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Liberian Firm Powers Europe

Swedish energy giant Vattenfall intends to burn woodchips in its European power plants that are sourced from old Liberian rubber trees.

It has signed a contract with Liberian company Buchanan Renewables Fuel to purchase a million tonnes of the chips over the next five years.

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Zambian Firm Withdraws From LEC Bid

Zambian power companies Zesco and Copperbelt Energy Corp (CEC) have withdrawn their joint bid to manage Liberia Electricity Corporation, the CEC executive chairman said on Sunday.

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$1.6b Deal Secure For Western Cluster

An Israeli Company, Elenilto Mineral Mining Ltd, has been awarded the rights to develop the $1.6 billion Western Cluster iron ore project, President, Ellen Johnson-Sirleaf, said, reports say.

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Delays in the Passage of Investment Act Worrisome

Planning & Economics Affairs Minister Amara Konneh has described as worrisome the continue delays in the passage of the 2009 investment act.

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$10 billion Investment Package For Liberia

The government of Liberia has announced a new investment package valued at $10 billion in the mining, agriculture and forestry sectors.

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