Article from ROAPE Volume 9 Number 23
Granges and The Undermining of Liberia: A Critique
This is a case study of one ‘joint venture’ between a transnational corporation, in this case the Swedish mining giant, Granges, and an African government. It offers a thorough explanation and demystification of the intricate corporate structures set up with the Liberian Government to run and control iron ore mining, and of the balance sheets of these corporations. Careful analysis documents the facts that despite the legal fiction of 50-50 partnership, the government gets only 25 per cent of the proceeds and yields up 100 per cent of the control of the operation to its multinational partner.