An exclusive investigation by Verity has revealed that the Grand Bassa County Administration entered into a financial agreement with Steelfort Mines Pvt. Ltd., allowing the company to lift iron ore tailings in Buchanan. While the county’s leadership has not publicly acknowledged the arrangement, sources confirmed that Steelfort Mines has already deposited US$400,000 into a dedicated escrow account established for the project.
According to documents reviewed by Verity, the agreement requires Steelfort Mines to pay a total of US$500,000 as an initial deposit. In a letter dated February 6, 2025, the Grand Bassa County Administration formally requested the payment, specifying that the amount was for the purchase, removal, and disposal of iron ore tailings. The administration urged the company to fulfill the payment obligation promptly.
To facilitate the transaction, county officials opened a special account with Guaranteed Trust Bank (GT Bank) under the name “Grand Bassa County Community Road Project.” Sources familiar with the matter revealed that Steelfort Mines has already transferred US$400,000 into the account, with the remaining US$100,000 expected to be paid soon.
Steelfort Mines Pvt. Ltd. is licensed by the Ministry of Mines and Energy to operate within Neekreen District, Grand Bassa County. The company’s license, which covers approximately 100 acres, is valid from November 3, 2023, to November 2, 2028, and permits the extraction of iron ore tailings in the region.
Despite these transactions, the Grand Bassa County Administration has not issued an official statement about the deal. This lack of public disclosure has raised concerns among residents and community leaders who are seeking transparency on the terms of the agreement and how the funds will be utilized.
The silence from county authorities has led to growing speculation and calls for accountability. Many locals question why such a significant financial agreement remains hidden. As scrutiny increases, mounting pressure is on the Grand Bassa leadership to clarify the details of the arrangement and ensure that the community benefits from the funds generated by the iron ore project.
By Wroinbee Elton Tiah and Socrates Smythe Saywon
