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 stated that although in the last few months its activities were reduced it did not close down its operations, as had been rumored, according to a press release issued yesterday.
The scale down in operations, according to the company’s CEO Christian Masurenko, was attributed to the Ebola outbreak. He pledged that PIOM will continue to meet its obligations to government and the communities within its concession area.
Mr. Masurenko said he was giving the assurance because the scale-down in the company’s operations in the last few months has been “misinterpreted as closure.”
The PIOM CEO stressed that unforeseen circumstances have negatively impacted the company’s operations resulting in delays in the implementation of its ventures.
The press release made specific reference to the Ebola outbreak which it said continues to hamper normal working activities in the country, and also the 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, said the press statement.