Financial Performance of Liberia Mining Company: 1951-1977 (in $000)
source:Ministry of Finance, Liberia.

     

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

This table contains financial data of the Liberia Mining Company, a multinational corporation that operated in Liberia from 1951 to 1977. Liberia Mining Company (LMC), signed an 80 year agreement to mine iron ore in Bomi Hills, Liberia in 1945, and began operations in 1951. It should be noted that when the company signed the agreement in 1945, there was no income tax provision in Liberian law.A statement of understanding signed in 1957 provided a 50% equity for the Liberian Government. The mining area covered 25,000 acres.
When the company finally closed its operations, it left nothing for the Liberian people except a land destroyed by mining.

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