The Liberian-American-Swedish Mining Company (LAMCO) is a defunct Liberian corporation that mined for iron ore in the Nimba range in Liberia and exploited the area during the second half of the twentieth century. Founded in 1955 by American and Swedish investors, the company established the first large-scale mining operation in Liberia following the discovery in the 1950s of the Nimba ore body by geologist Sandy Clarke.
A LAMCO train takes on an iron ore load at Yekepa in 1976
The company built a standard gauge railroad approximately 360 km long, linking the mine in the north of the country, to the Port of Buchanan. The Nimba project was managed by LAMCO, Bethlehem Steel, and the Liberian government. Liberia introduced a nationalization policy intended to gradually phase out the non-Liberian staff. By 1989 ore that was profitable for extraction by market rates in the Nimba range had been exploited, but Guinea had large reserves that had not yet been mined.
In November 1989, LAMCO was taken over by the Liberian Mining Corporation (LIMINCO), formed to maintain the Liberian ports and railways and to facilitate a joint project with Guinea, known as the Nimba International Mining Company (NIMCO), to extract ore on its side of the border, transport it by a railway to be built to Buchanan, Liberia, and export it by ship. Part of the joint project was construction of a railway from Guinea to the port of Buchanan.[1] Operations were to be managed by the London-based African Mining Consortium Limited (AMCL) under a ten-year contract.
Operations were disrupted, but never damaged, several times during the civil war beginning in September 1990 with the invasion of Charles Taylor's forces. For a time private interests continued with the thought of "booty futures", if Taylor 's National Patriotic Front of Liberia (NPFL) won the war. He was believed to be siphoning off monies from the mining operations.[1]
African nations collaborated to form a force to try to intervene and bring peace; it was known as the Economic Community Cease-Fire Monitoring Group (ECOMOG). Its forces captured Buchanan in 1993, and iron ore export operations ceased. Profits had been declining and, as of January 1994, ships were no longer willing to try to pick up ore at the Port of Buchanan because of the state of war.[1]
Soon after operations were halted, LIMINCO's sites at the ports of Yekepa and Buchanan were pillaged by warring forces. Such looting continued until 2004.
Arcelor Mittal, a European-Indian steel company formed in 2007 and based in the city of Luxembourg, announced that it intended to reactivate the former LAMCO mining operation. It soon encountered financial problems due to decline in the steel demand in Europe. Its business began to improve after 2014 with new contracts with China.
^ abcGerdes, Felix (2013). Civil War and State Formation: The Political Economy of War and Peace in Liberia. Campus Verlag. pp. 81–83. ISBN9783593398921.
External linksedit
Images from Yekepa, the mines and more
January 01, 1970
lamco, confused, with, lanco, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jsto. Not to be confused with Lanco This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources LAMCO news newspapers books scholar JSTOR January 2021 Learn how and when to remove this message The Liberian American Swedish Mining Company LAMCO is a defunct Liberian corporation that mined for iron ore in the Nimba range in Liberia and exploited the area during the second half of the twentieth century Founded in 1955 by American and Swedish investors the company established the first large scale mining operation in Liberia following the discovery in the 1950s of the Nimba ore body by geologist Sandy Clarke A LAMCO train takes on an iron ore load at Yekepa in 1976 The company built a standard gauge railroad approximately 360 km long linking the mine in the north of the country to the Port of Buchanan The Nimba project was managed by LAMCO Bethlehem Steel and the Liberian government Liberia introduced a nationalization policy intended to gradually phase out the non Liberian staff By 1989 ore that was profitable for extraction by market rates in the Nimba range had been exploited but Guinea had large reserves that had not yet been mined In November 1989 LAMCO was taken over by the Liberian Mining Corporation LIMINCO formed to maintain the Liberian ports and railways and to facilitate a joint project with Guinea known as the Nimba International Mining Company NIMCO to extract ore on its side of the border transport it by a railway to be built to Buchanan Liberia and export it by ship Part of the joint project was construction of a railway from Guinea to the port of Buchanan 1 Operations were to be managed by the London based African Mining Consortium Limited AMCL under a ten year contract Operations were disrupted but never damaged several times during the civil war beginning in September 1990 with the invasion of Charles Taylor s forces For a time private interests continued with the thought of booty futures if Taylor s National Patriotic Front of Liberia NPFL won the war He was believed to be siphoning off monies from the mining operations 1 African nations collaborated to form a force to try to intervene and bring peace it was known as the Economic Community Cease Fire Monitoring Group ECOMOG Its forces captured Buchanan in 1993 and iron ore export operations ceased Profits had been declining and as of January 1994 ships were no longer willing to try to pick up ore at the Port of Buchanan because of the state of war 1 Soon after operations were halted LIMINCO s sites at the ports of Yekepa and Buchanan were pillaged by warring forces Such looting continued until 2004 Arcelor Mittal a European Indian steel company formed in 2007 and based in the city of Luxembourg announced that it intended to reactivate the former LAMCO mining operation It soon encountered financial problems due to decline in the steel demand in Europe Its business began to improve after 2014 with new contracts with China See also editTransport in Liberia British Rail Class 08 British Rail Class 126 YekepaReferences edit a b c Gerdes Felix 2013 Civil War and State Formation The Political Economy of War and Peace in Liberia Campus Verlag pp 81 83 ISBN 9783593398921 External links editImages from Yekepa the mines and more Retrieved from https en wikipedia org w index php title LAMCO amp oldid 1222494366, wikipedia, wiki, book, books, library,
