𝗛𝗼𝘂𝘀𝗲 𝗖𝗼𝗺𝗺𝗶𝘁𝘁𝗲𝗲 𝗜𝘀𝘀𝘂𝗲𝘀 𝟮𝟬-𝗗𝗮𝘆 𝗨𝗹𝘁𝗶𝗺𝗮𝘁𝘂𝗺 𝘁𝗼 𝗛𝘂𝗺𝗺𝗶𝗻𝗴𝗯𝗶𝗿𝗱 𝗥𝗲𝘀𝗼𝘂𝗿𝗰𝗲𝘀

The House of Representatives, through its Committee on Concessions and Investment, hereby informs 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, with regard to their 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 and Development Planning (MFDP), the Committee has established that Hummingbird Resources has failed over several years to honor critical financial commitments, including taxes, levies, and concession-related social development funds. These obligations, which are approximately three million four hundred eighty five thousand United States Dollars (USD3.485 million ), are legally binding under the terms of their Mineral Development Agreement and are vital for the support of affected communities and the advancement of national development. The Committee finds this prolonged non-compliance 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. Such conduct undermines the integrity of Liberia’s investment environment and deprives the country 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 (20) 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 Mineral Development Agreement and the company’s removal from further operations in Liberia. The Legislature remains fully committed to protecting the national interest and ensuring that all concessionaires operating in Liberia do so in accordance with the law, with integrity, and in a manner that benefits the Liberian people. We reaffirm that Liberia welcomes responsible investment, but such investment must come with full compliance, transparency, and respect for our laws and communities.