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.