The former Minister of Commerce and Industry, Amin Modad, has broken his silence on the ongoing friction with Bea Mountain Mining Corporation, calling the disparity between the company’s profits and its national contribution mind-boggling.
In a strongly worded write-up, the former Minister revealed that during his tenure at the Ministry of Commerce, the government uncovered a startling trend where the Bea Mountain was importing nearly 90% of its consumables, including basic items like eggs, soap, and honey, despite their availability in local markets.
He stated the Ministry under his watch successfully denied import permits for basic goods, forcing the company to buy local and stimulate domestic trade.
Modad noted that a well-oiled campaign of false allegations emerged against him immediately after he issued a stern October 6 directive halting their cement factory operations.
The former Minister is now calling for a fundamental shift in how Liberia manages its wealth, moving away from simple royalties toward a shareholding model.
Despite his concern, Modad expressed confidence that the current government headed by President Joseph Boakai remains committed to a Liberia First agenda, ensuring that national gold translates into national growth.
His statement emerged following VP Koung’s visit to Bea Mountain Mining Corporation to inspect the company’s operations in Grand Cape Mount County.
During the visit, the company’s management informed the Vice President that they produced approximately 900 kilograms of Gold every month that earns the company US$ 1.6 Billion a year. The revelation has drawn public attention with concerns of the country’s natural resources being mined without much needed benefits for its citizens.
