Capital Hill, Monrovia – The Bea Mountain Amended Mineral Development Agreement with Liberia has been ratified, with the support of both the Liberian Senate and the House of Representatives. It comes after the Liberian Senate earlier approved the contract.
Following the joint committee report on Thursday, September 7, 2023, the House of Representatives voted in favour of the Amended MDA, granting Bea Mountain an additional 25 years to operate in Liberia, according to the House Press and Public Affairs. BMC will invest an additional US$520 million over the course of the modified 25-year contract.
According to the Committee’s findings, the First Amendment to the Restated MDA included a basic cumulative Community Development Fund (CDF), a Clan Development Fund, 50% surface rental fees, 5% equity ownership, as well as increased financial benefits to the affected communities.
