CAPITOL HILL, Monrovia – Hummingbird Assets, a mining firm working predominantly in Sinoe County with some concessional actions touching down River Gee and Maryland Counties, has admitted it owes greater than US$3.448 million {dollars} to the Authorities and Folks of Liberia.
By Emmanuel M. Weedee-Conway
The cash is owed in Liberia Income Authority (LRA) levies and unpaid neighborhood growth funds as the corporate continues to face mounting scrutiny from Home Joint Committee on Concession and Funding for monetary liabilities to the state and host communities
However the firm’s Chief Government Officer (CEO) says the Hummingbird is in deep monetary misery which has led to the rising tax legal responsibility.
Showing earlier than Committee, which is chaired by Bong County Electoral District #7 Consultant, Foday Edward Fahnbulleh, the corporate’s Chief Government Officer (CEO), Brett Richards, who honored the general public listening to beneath the danger of contempt, pleaded for understanding, citing health-related causes for his absences from earlier hearings.
Whereas admitting to the corporate’s forfeiture to its monetary obligation to the nation, CEO Richards did not current any monetary data to the committee regardless of being repeatedly pressed to point out fee particulars that might presumably excuse LRA levies and neighborhood growth funds which his firm has did not pay over time.
“I acquired the letter and subsequent communications. I had a medical process in France and needed to delegate my employees to attend on my behalf. My absences weren’t in any means supposed to hinder the Committee’s work, and I shouldn’t be held in contempt.”
Whereas presenting travel-related medical paperwork to validate his prior non-appearances, Mr. Richards revealed that he assumed the function of CEO in December of final 12 months (2024) after the corporate’s mother or father physique had already entered a interval of monetary issue.
“I joined when the corporate was already beneath monetary stress. We want time. We aren’t in good monetary standing in step with the Mineral Growth Settlement. However I can guarantee you, Hummingbird might be in full compliance by the tip of 2025,” he informed lawmakers.
Richards additional disclosed that the capital required to construct and operationalize the mine is roughly US$450M, describing the venture as a big funding able to producing quite a few secondary and tertiary jobs throughout Liberia.
The Liberia Income Authority (LRA), represented by Deputy Commissioner, Mr. Gabriel Montgomery, revealed to the listening to that the corporate owes the federal government an impressive US$3.4 million.
This startling revelation by the LRA then sparked considerations over the corporate’s compliance and monetary credibility.
The shortage of transparency has raised pink flags amongst legislators, lots of whom consider that Hummingbird could also be utilizing claims of monetary hardship to delay tax funds and dodge scrutiny.
Some lawmakers additionally questioned whether or not the corporate’s dealings with native communities and the Ministry of Mines and Power are in step with the provisions of the Mineral Growth Settlement (MDA), which governs operations within the extractive sector.
Lawmakers have been in actual fact, left unconvinced by the corporate owes the individuals of Liberia solely this quantity. The lawmakers in consensus demanded tangible proof of its monetary standing and obligations.
Whereas the LRA confirmed the US$3.4 million legal responsibility, they failed to offer detailed supporting documentation exhibiting how the debt is accrued.
“We wish to know whether or not you might be in misery. In truth, even if you’re, there isn’t any doc earlier than this physique that proves that Hummingbird is financially distressed,” said Committee Chair Fahnbulleh.
As the controversy into the matter reached its peak, a movement was made by Margibi County Electoral District #2 Consultant Okay. Jones, for the Hummingbird administration to stay beneath oath to return with a full monetary report from the corporate that particulars its monetary transactions and to point out the way it arrived on the present debt determine.
The movement proffered by Rep. Jones was seconded and unanimously voted upon by Committee members amid some amendments.
With CEO Richards attributable to journey in a foreign country Wednesday, the administration workforce headed by him will once more seem earlier than the committee on Tuesday, August 5, 2025 with the requested related paperwork.
The Home joint committee on Concession and Funding Committee has warned that failure to offer the requested paperwork in subsequent hearings may result in some penalties.
Because the legislative probe deepens with the corporate remaining beneath the warmth, many are involved concerning the true monetary state of Hummingbird as as to whether it nonetheless has the capability to proceed with the settlement.
There are additionally considerations over the federal government’s subsequent motion – whether or not the federal government will take more durable motion towards the corporate to make sure accountability from concession corporations that owe vital income to the state.
