Financial Performance of National Iron Ore Company:1962-1977 (in $000)
source:Ministry of Finance, Liberia.

     

Year Sales-Income Other-Income Operating-Cost Interest-Payment Amort-Dep.

This table contains the financial data of the National Iron Company, a multinational corporation that operated in Liberia from 1962 to 1970s. National Iron Ore Company (NIOC), signed an 80 year agreement to mine iron ore around Mano River in Cape Mount, Liberia in 1958 , and began operations in 1962.
An analysis of the financial operations of this company, from 1972 to 1977, show that the company was operating in the red. It is not clear if this company was cooking the books; what is know is that NIOC and many other multinational corporations were forced to pay back-taxes in the millions of dollars, when the Tolbert Administration retroactively audited their operations.

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