Liberian-American-Minerals Company was given a 70 year concession
for ore exploration.
Swedish group of companies were contacted to explore the Putu
Swedish group joined the exploration project as partners and
the company was renamed Liberian-American-Swedish Minerals Company
The Putu region was proven a disappointment and the Scottish
Geologist, Sandy Clarke, was sent to explore mineral deposits
in the Nimba area. At Christmas time this year he found evidence
of huge iron ore deposits.
exploration work leading to a proved ore reserve of over 250
million tons high grade iron ore.
engineering and cost calculation leading to investment forecast
at over $200M.
Intensive work to finance the project and ensure long term contracts
for ore deliveries.
Bethlehem Steel acquired 20% of the project and guaranteed 25%
of the financing and 25% of the sales. The remaining 75% is shared
equally with the Government of Liberia and LAMCO.
of the huge project including Nimba, Railroad, Harbor and Maintenance
works in Nimba and Buchanan.
Building up the first areas of the communities of Yekepa and
Buchanan. In April 1963 production commenced and on the 15th
of November the LAMCO project was inaugurated by the late President
William V.S. Tubman.
Ore Processing Plant and a Pellet Plant were constructed for
$50M in order to improve the quality of the ore.
started at Mount Tokadeh at a limited production rate (3Mton
work at Gangra, Yuelliton and Beeton indicates considerable iron
work commenced on a project to develop Tokadeh to a full scale
mine with its own concentrating plant.