The_Open_Door_deel1

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The head of the U.S. geological mission in Liberia acted at this
meeting as a consultant to the three interested parties (27). As
a result of this conference the Export-Import Bank in the same
year granted a $ 4 million loan to the Liberia Mining Company
(the loan agreement was signed on August 18, 1949), whereas
Republic Steel decided to participate in the concession, buying
nearly all the shares in the Liberia Mining Company held by Wm.
H. Muller & Company and also some of Christie's. On June 1, 1949
the U.S. steel company signed an Iron Ore Sales Agreement with
L.M.C. and in the same year L.M.C. appointed Republic Steel as an
additional non-exclusive sales agent for the sale of iron ore to
buyers in the U.S.A. With an ownership of 59.2? of the shares
Republic Steel had become the major shareholder in L.M.C.
Four years after he had signed the concession agreement Lansdell
Christie had attracted the necessary capital (U.S.A.) and
technical know-how (Dutch/U.S.). Having also secured the
marketing of the product through sales agency agreements (U.S./
Dutch), and benefiting from the infrastructural improvements
(the Free Port of Monrovia - which opened in July 1948 - and the
bridge over the St.Paul river, both pre-financed by U.S. capital)
the major work left was the construction of a railroad from Bomi
Hills to the Free Port. This was financed by the investors, and
represented their major investment in the project, total costs
(investments) of which amounted to about $ 10 million (see below).
The railroad was completed in April 1951 and the subsequent
shipment of iron ore from Bomi Hills/Liberia to the U.S.A. in
many respects marked the beginning of a new era for Liberia.
THE LIBERIA MINING COMPANY
"/ wish to point out as clearly as possible to the people
of every class and range of Liberia, the unselfish, deep
and immovable love and interest that this great man,
Lansdell Christie, entertained for the development of
this country, and prosperity of his people, particularly
its common people."
- President Uilliam Tubman (1965) (28)
"Gentlemen, your presence in Liberia and in other countries
like ours is proof that the pnofii motive, can move
mountains, but I am afraid it is not as obvious a proof
of man's humanity to man, I do not believe thai altruism
and good business judgement can_easily be combined in a
successful commercial relationship, because no such relationship
can survive, unless both parties derive mutually
satisfactory benefits (...) The time has come when we must
all broaden our vision. Ue must now look to the day when
the result of your presence in Liberia will mean more than
just a sunken crater, blemishing the fact of the land."
- President Uilliam TolLert (1973) (19)