Iron ore deal between Liberia and China

Iron ore deal between Liberia and China

Liberia and China have reportedly reached an agreement for the shipment of 800'000 tons of iron ore from Liberian Port of Buchanan to China for $10 million. In fact, China started to ship 50'000 tons of iron ore last week. Sources report that, the shipment from Port of Buchanan is the first in twelve years since Liberian Mining Company (LIMINCO) halted production in the region due to civil war. The deal regarding iron ore shipment from Liberia to China is made upon the request of Liberian government, which promoted Chinese company Qingdao Trading Group Corp to buy iron ore from Liberia at the end of 2003.