𝗛𝘂𝗺𝗺𝗶𝗻𝗴𝗯𝗶𝗿𝗱 Resources
Suffers 𝟮𝟬-𝗗𝗮𝘆 𝗨𝗹𝘁𝗶𝗺𝗮𝘁𝘂𝗺
To Pay Gov’t Money:
Hummingbird Resources
Suffers 20-days Ultimatum
The House of Representatives (HoR), has given a 20-day ultimatum to the management of Hummingbird Resources to settle their contractual and financial obligations to the government.
The House, through its Committee on Concessions and Investment, informed the public that following weeks of comprehensive hearings and thorough review of testimonies and financial disclosures, a decision has been reached concerning the non-compliance of Hummingbird Resources (Liberia) Inc. and its parent company, PasofinoGold Limited.
This, the House said is in regard to the company contractual and financial obligations to the government and people of Liberia.
Based on verified reports and disclosures from the Liberia Revenue Authority (LRA), and the Ministry of Finance, the Committee has established that Hummingbird Resources has “failed over several years to honor critical financial commitments to the government.”
They include taxes, levies, and concession-related social development funds.
These obligations, which are approximately US$3.485 million, according to a release, are legally binding under the terms of their Mineral Development Agreement (MDA), and are vital for the support of affected communities and the advancement of national development.
The Committee, the release said, “finds this prolonged non-compliance on the part of the company, unacceptable and views it as a gross breach of trust, a violation of the law, and a clear act of bad faith toward the government and people of Liberia.”
According to the release, such conduct undermines the integrity of country’s investment environment and deprives it of much-needed revenues.
“In view of the foregoing, the House Committee on Concessions and Investment has resolved to grant Hummingbird Resources (Liberia) Inc. a final period of twenty working days to settle all outstanding financial obligations as stipulated by law.
Failure to comply within this period will result in the Committee recommending the immediate termination of the MDA, and the company removal from further operations in the country.”
Meanwhile, the legislature said it remains fully committed to protecting the national interest, and ensuring that all concessionaires operating in the country do so in accordance with the law, with integrity, and in a manner that benefits the Liberian people.
“We reaffirm that the country welcomes responsible investment, but such investment must come with full compliance, transparency, and respect for our laws and communities.”