—-As more Revelation Unfolds

IPNEWS: More revelations are unfolding a day after the authoritative independent Probe Newspaper commenced an intense investigation into continued espionage gamic in the mining sector, amidst report of an imminent takeover of Solway Mining Incorporated by another steel giant HPX through Guma Africa Group Ltd owned by global Pan-African entrepreneur Robert Gumede of South Africa.

In November 2023, Solway Investment Group (SIG), a private international mining and metals group based in Switzerland, submitted a Notice of Arbitration to the Government of Liberia in the hope of resolving a dispute between its Liberian subsidiary Solway Mining Incorporated (SMI) and the Republic of Liberia in relation to SIG’s valuable iron ore mining rights in the country.

This came in the aftermath of a granting of mining rights to SIG’s (Solway Investment Group), Liberian subsidiary Solway Mining Incorporated (SMI) a three-year Mineral Exploration License. in 2019, by the Liberian government through the Ministry of Mines and Energy. Pursuant to this Exploration License, SIG and SMI would carry out significant exploration works, culminating in the identification and delineation of in excess of 1.4 billion tons of economically viable resources of iron ore in a strategically valuable location. SIG and SMI subsequently entered into negotiations with the Government of Liberia for the conclusion of a Mineral Development Agreement, which would allow SIG to complete the final practical steps required to commence production.

While the Government of Liberia was negotiating the Mineral Development Agreement with SIG, it appears at the same time to have promised the very same license area to Arcelor Mittal, one of the largest foreign investors in Liberia. In mid-2023, the Ministry of Mines and Energy and Arcelor Mittal entered into an agreement predicated on the termination of SIG’s valuable mining rights, and the transfer of these rights to Arcelor Mittal without the payment of fair and adequate compensation to SIG in the tone of 50 million according to inside sources.  Other close figures within the then George Weah government tells the authoritative Independent Probe Newspaper, that this agreement took place without the knowledge and consent of the Swiss SIG, but Solway Mining Incorporated (SMI) causing SIG and its shareholder’s significant economic harm.

The Government of Liberia’s action violates the Liberian Investment Act 2010 and the Treaty of Friendship and of Commerce between the Swiss Confederation and the Republic of Liberia. The Investment Act contained Liberia’s agreement to investment arbitration under the Arbitration Rules of the United Nations Commission on International Trade Law.

In October 2023, SIG protested in a communication to the Government of Liberia, inviting it to enter into amicable discussions in response to its unilateral actions. SIG was disappointed to receive no response from the Government of Liberia. SIG therefore had no alternative but to submit a Notice of Arbitration to the Government of Liberia on November 9, 2023. In this Notice of Arbitration, SIG requested the Government of Liberia’s consent to see the arbitration proceedings in London, United Kingdom, administered by the Permanent Court of Arbitration. SIG continues all efforts to engage in constructive discussions with the Government of Liberia to resolve this issue while simultaneously protecting its interests under public international law by reference to arbitration.

However, the Weah’s government chose to deal with Solway Mining Incorporated (SMI), rather than Swiss SIG, reaching a settlement of a mouthwatering 50 million to be provided by ArcelorMittal for distribution of 30 million to Solway Mining Incorporated (SMI), while 20 million goes to other contesting parties with claims in the exploration areas.

Confident sources tell the authoritative independent Probe Newspaper that the Weah’s administration reportedly transferred Solway’s mining licenses to ArcelorMittal before the launch of political election campaign.  ArcelorMittal has previously expressed concerns about Solway’s presence in the Nimba Mountain area and encroachment on its concession areas. The government has been urged by ArcelorMittal not to enter into agreements with Solway Mining and other third parties related to mining operations.

In adherence to the deal brokered by the government of Liberia between ArcelorMittal, and Solway Mining Incorporated (SMI), 50 million was provided to the government of Liberia for distribution, however, Solway Mining Incorporated (SMI) officials claimed they never receive a cent from the government of Liberia, sparking a change of mind by the SMI Chief Executive Officer, Mr. Boima Morgan requesting a withdrawal and subsequent filing at the civil Law court the cancellation of agreement with the government of Liberia in its writ of ‘Notice of Arbitration’.

Sources within Solway Mining Inc. hints the authoritative Independent Probe that former Finance and Development Minister Samuel Tweah, acknowledged receipt of the 50 million allegedly paid by ArcelorMittal but was instructed by former President Goerge Manneh Weah, to use the amount for campaign funding.

The move according to sources within Solway Mining Incorporated (SMI), came on the back of intense pressure from some unnamed Russian partners for servicing of a loan in the amount of 10,512,550.70 o accrued interest as of December 31, 2022.

The authoritative Independent Probe unearthed in September 2020, how Solway Mining Incorporated, was aggressively encroaching on the steel giant ArcelorMittal’s iron ore concessions in Liberia, with the backing of its Estonian multimillionaire businessman, Aleksandr Bronstein, with strong ties to Russian President, Vladmir Putin, including Alexey Mordashov, owner of the failed Putu Mining Operations in Liberia.

With recent developments in Liberia’s mining sector starting with the visits of both HPX and ArcelorMittal owners to Liberia have raised eyebrows and sparked stakeholder concerns especially over the conduct of High-Power Exploration (HPX)  which recently signed a letter of intent with the Government of Liberia to invest up to $5 billion, for among others, construction of a railway from Guinea to Buchana Port.

Amidst all this, the authoritative Independent Probe Newspaper understand that Solway Mining Incorporated (SMI) is in concluding discussion with Ghanian millionaire Ibrahim Mahama, Excess and Planters for a possible takeover. Others report suggest that Ibrahim Mahama, is acting under a disguise for HPX who had initially opted building a new rail from it Guinea to Liberia Buchanna port corridor.

In fact, IPNEWS understand that Mr. Ibrahim Mahama had made frequent visits to Liberia and engagements with high-ranking government officials fueling suspicions of a concerted effort to secure control over Solway Resources amidst report from its contested exploration site situated in Blei and Delton which experts says are already in ArcelorMittal concession area of local communities being mobilized to oust individuals associated with the current ownership structure of Solway Mining, raising ethical and legal concerns.

Sources tell IPNEWS that while the Ministry of Mines and Energy recognizes Boima Morgan as the legitimate owner of Solway, a group of Russians are equally making claim of ownership and it is this group that reports suggest HPX is allegedly attempting to use in a bid to acquire Solway.

A communication dated November 25,2021, addressed to former Justice Minister, Frank Musa Dean, a copy of which is in the possession of the authoritative Independent Probe Newpaper, sought to detached its concession area from ArcelorMittal on 15 count precepts.

Solway Mining Inc. CEO Boima Morgan, stated that he was pleased to share its perspectives about the issuance of mineral rights over the former LAMCO Concession area by the Ministry of Mines & Energy; and the assertion that the affected rights fall within ArcelorMittal’s Concession area.

Boima Morgan: “Honorable Dean, in line with the definition (ff) of the Minerals and Mining Laws of 2000, a Mineral Development Agreement (MDA) “shall mean an agreement entered into between the Government and an eligible Applicant for a Class A Mining License that shall be effective and binding upon the Republic when signed by the Persons described in Section 6.6 (a) and approved by the President of the Republic of Liberia.”

“In view of this, Honorable Minister, the MDA area is referred to as the Concession area. Based on the above definition, the following perspectives are presented: 1. The Government of Liberia (GoL) and Mittal Steel Holdings (MSH) executed a Mineral Development Agreement (MDA) on August 7, 2005, which agreement was duly ratified and approved on September 23, 2005.

2. Under said MDA, GoL transferred to MSH the right to undertake exploration, development, production, and marketing of iron ore within the Concession Area formerly occupied by LAMCO J.V.
3. Under Article VI Section 5 of the MDA, GoL covenanted to issue to MSH Exploration License for any Exploration Area proposed by MSH within the Concession Area, pursuant to Sections 5.4 and 6.2 of the Minerals and Mining Law, which require that an Exploration License must firstly be obtained for any mineral tenement, before the issuance of a Mining License.
4. With the inauguration of the Ellen Johnson-Sirleaf administration in 2006 and MSH transformed to ArcelorMittal Liberia (AML), the parties executed an amendment to the initial MDA on 28th December 2006, which was ratified and approved on May 7, 2007, by the Liberian Legislature, pursuant to law.
5. Under the Amended MDA of 2006, GoL granted AML the right to submit a bid to undertake exploration of potentially exploitable Iron Ore resources in unencumbered contiguous areas of the Concession Area, in accordance with applicable Law. Let it be known that Article 75(1)(b) of the then Public Procurement and Concessions Commission Act of 2005 required bidding for all Exploration Licenses.
6. AML was obliged, under the Amended MDA, to have applied for the entire former LAMCO concession as a production area and submit the required feasibility studies for development, in accordance with the Minerals and Mining Laws of Liberia. In the event AML applied for only portion of the area, the remaining area reverted to GoL and all claims or rights to said area ceased. AML applied for only Mining License over the production areas of Tokedeh, Gangra and Yuelliton. Accordingly, all other mineralized areas of the former LAMCO concession not transferred under the 2007 Amended MDA or claimed by AML reverted to GoL.
7. The only assets and concession area granted to AML by GoL are outlined in Appendix F of the Amended MDA of 2006.
8. Thereafter, GoL enacted the National Forest Reform Law 2006 and Community Rights Law 2009, whereby portion of the former LAMCO Concession area was given to the People of Gbadzor Community by the Forestry Development Authority in 2011.
9. Further portion of the former LAMCO Concession was set aside by GoL in 2003 and established as the East Nimba Nature Reserve, a UNESCO World Heritage Site.
10. On December 15, 2011, GoL, through the then Ministry of Lands, Mines & Energy issued Mineral Exploration License to Mt. Bele for the exploration of iron ore over an area of approximately 56 sq. km.
11. On March 8, 2012, based on complaint from AML, concerning the operations of Mt. Bele in the subject area, the then Minister of the Ministry of Lands, Mines & Energy replied, refuting the allegation of AML, and requested AML to establish its claim to said mineral tenement. AML failed to provide any proof to its claim. The license of Mt. Bele was subsequently terminated, and the tenement reverted to GoL. Page 3 of 5
12. On October 14, 2019, the Ministry of Mines & Energy issued to Solway Mining, Inc. (SMI) a mineral exploration license to undertake exploration for iron ore over 56 sq. km of land in Nimba County, previously issued to Mt. Bele. SMI has since abided by the Minerals and Mining Law of Liberia, the Guidelines for Mineral Exploration and all laws appertaining to its operations on the license and paid all fees required.
13. SMI further entered into a Community Lease Agreement with the People of Gbarzor for utilization of the forest land granted to them by the Forestry Development Authority (FDA) under the National Forest Reform Law and Community Rights Law. SMI has paid all fees for said usage and abided by all terms and conditions to the said agreement.
14. Up to present, SMI has expended over US$10,000,000.00 (Ten Million United States Dollars) for the conduct of its mineral exploration program and has applied to GoL for a Mineral Development Agreement over the license.
15. It should be noted that, aside from the SMI exploration license, two other mineral exploration licenses (SRG and MEKINEL) were also issued within the former LAMCO Concession area. Investigation continue…….