Aureus, Aminata Sign US$90m Deal

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Aureus Mining Company and Aminata and Sons, have entered into a US$90m (Ninety Million) contract for the supply of petroleum products to Aureus Mining New Liberty Gold Mining Project in Grand Cape Mount County.  The contract will run for the lifespan of the mine, which is 8 years. 

Speaking at the signing ceremony, the General Manager of Aureus Mining Company, Mr. Debar Allen, said Aminata’s petroleum service delivery meets the standard and has demonstrated the capacity to deliver more than any of its competitors in the sector.

“It is a pride and joy for Aureus to do this with a Liberian entity because of our belief in local content. We are confident that Aminata can deliver a key component of the project by the provision of fuel over its duration.  This is the third sizable contract in our operation for the duration of the mine; and we are proud that we can enter into this agreement with a Liberian-owned entity.”

For his part, the Minister of Lands, Mines and Energy Mr. Patrick Sandolo, said the Aureus Gold Mining project represents “a lot of firsts” in Liberia. He described the project as “the first industrial-sized gold mining operation in Liberia ever, and the first new mining operation in Liberia to commence in 2015. He noted that the contract is also the most significant and the largest that any company in the mining sector has awarded to a Liberian business entity.”

According to Minister Sandolo, “the signing of this contract gives us what we have been trying to get, which is that all other companies should remain committed; and also keep their projects on course. We are very pleased and gratified, and we assure all companies in the country of government’s fullest support in their operations.”

Chief Executive Officer of Aminata and Sons, Mr. Siaka Toure, thanked the Government of Liberia for creating the enabling environment to allow business entities to freely operate in the country.  He said the signing of the contract has relieved Aureus of the burden of procuring and transporting petroleum products at the mine. He promised that Aminata will construct a tank farm at the mine where the company will be receiving its supplies.

 He indicated that his company will do everything possible to keep the contract on course throughout the duration of the mine. He thanked Aureus for selecting a Liberian company to supply such a very significant commodity to the project.

The Acting Minister of Commerce, Mr. Cyril Allen said it is a good thing to have Liberian companies entering into such a deal for the supply of petroleum products in the mining sector. “We are very proud of Aminata, and we hope that they will live up to the expectations of the deal.”

The New Liberty Gold Mines project, owned by Aureus Mining Company has an estimated proven and probable reserve of 924,000 ounces of gold grading 3.4 g/t. When fully operational, this project will provide much needed revenue and employment for Liberians while developing human capacity and business opportunities for Liberian owned Small Medium Enterprises over the duration of the mining operations.  

Delivering her annual message to the Fourth Session of the 53rd Legislature, President Sirleaf commended the “impressive work” of the gold mining concessionaire, and urged the lawmakers to “visit the concession site for a personal appreciation of the beneficial results” of the concession agreement they signed. 

Mr. Allen said the company is delighted over the President’s commendation about their work and that Aureus remains committed to aspects of the Mineral Development Agreement, including its Resettlement Action Plan, which provides for the construction of new and modern homes for employees and residents of the affected communities.

He added that the President’s commendation has motivated the company further to living up to all aspects of its agreement.

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