Prospects for the liberian iron ore industry are examined considering changing patterns of supply and demand in the world iron ore industry. The performance of the liberian iron ore industry is observed from 1951 through 1985 in regards to competition for global markets by iron ore producers. The iron ore market is perceived as one that is relatively competitive due mainly to the large number of rival producers. Thus, the prospects for liberian iron ores would be tied to regions in which their delivered prices are low. The industry's contribution to the liberian economy is emphasized, noting that it has contributed about 15 pct of gross domestic product between 1981 and 1985. The industry has been a major source of foreign exchange earnings since its inception. Cumulative liberian export earnings from 1951 to 1985 were $8.381 million (U.S. dollars), while that for the iron ore industry was $5.062 million. Prospects for the liberian iron ore industry depend on the quality of its remaining ore reserves and on the realization of the mifergui- nimba project. This project would require the use of liberian infrastructure and facilities and high-grade guinean iron ores. The success of this project would depend on cooperation between the governments of Liberia and Guinea.
Issue of Publication
Liberian Diaspora, V. 3, No. 7 June 1992, PP. 23-24
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