Rédaction Africa Links 24 with New Dawn
Published on 2024-04-01 00:45:00
China-Union Investment (Liberia) Bong Mines Co. Ltd has recently come clean about its failure to fulfill its corporate social responsibility obligations in Liberia for approximately eight years. This admission, made by the company’s Public Relations Officer Morris Tate, sheds light on a significant issue that has implications for millions of Liberians. This revelation was made during a public event in Margibi County, where Tate was invited by Representative Emmanuel Yarh to address the community regarding a machine donation by China Union.
Tate candidly admitted that for the past eight years, China Union had been inactive and had neglected its social corporate responsibilities in Liberia. This neglect has led to accusations of abandonment by the local citizens who have long awaited the company’s contribution to social development in the region. With pressure from lawmakers, including Hon. Yarh and Hon. Foday, China Union has now committed to paying the social development funds owed for the past eight years.
The history of China Union’s presence in Liberia dates back to 2009 when it signed a mineral development agreement with the Liberian government. This agreement was meant to facilitate a significant investment of $2.6 billion that would not only benefit the company but also elevate the living conditions of Liberians. However, over the years, China Union’s operations have faced criticism, with former Vice President Jewel Howard Taylor expressing disappointment in the company’s lack of progress and impact on the local communities.
The call for China Union to either fulfill its obligations or allow other companies to take over the mines has become more urgent as the company’s inactivity persists. China-Union Investment (Liberia) Bong Mines Co. Ltd is a subsidiary of China-Union (Hong Kong) Mining Co., Ltd., with legal entities in Hong Kong and shareholders in China Africa Development Fund Co., Ltd. Operating in Margibi and Bong Counties, China Union transports iron ores through Montserrado County, making it responsible for annual contributions to all three counties.
The recent acknowledgment of failure by China Union highlights the importance of corporate social responsibility and the impact that neglecting such responsibilities can have on communities. As the company works to rectify its shortcomings and fulfill its owed social development funds, there is hope that this will lead to positive change and better relations with the affected communities. It serves as a reminder to companies operating in foreign countries to uphold their commitments and contribute positively to the social and economic development of the regions they operate in.
Read the original article on The Newdawn Liberia
