MONROVIA – High Power Explorations has termed as “fake” a document making rounds suggesting that the Speaker of the House of Representatives, Bhofal Chambers, received half a million from the company for “legislative engagements”.
The document in the form of a receipt, bears what is known to be the signature of the Speaker as the recipient of US$500,000 from the company’s CEO, Guy de Selliers.
The document which is under the emblem of Ivanhoe Liberia, a subsidiary of HPX, is dated March 25, 2022.
This is to confirm that I the undersigned official received $500,000USD for Legislative engagement activities from Guy de Selliers.
Hon. Dr. Bhofal Chambers
The Office of the Speaker did not provide any comment to the document when contacted.
However, an official of the HPX confirmed to FPA that the document is fake. “First HPX or Ivanhoe Liberia has a very strict policy in terms of payment. It’s just ridiculous when you know the rules and strict policy that HPX and Guy apply,” the official said.
This purported document has surfaced at a time when the national legislature appears to be toying with two choices: ArcelorMittal, the largest investment to date with a proven track record, a hefty US$30M Signing fee, and HPX, an exploration company FrontPageAfrica discovered has signed a Framework Agreement. The government has received unannounced payments in regards to the Framework Agreement.
The signed amended and restated Framework Agreement with the HPX confirms the Liberian government’s principles for HPX’s non-discriminatory access to Liberian rail and port infrastructure and identifying HPX’s requirements for the future evacuation of ore from the Guinean Nimba Iron Ore Project.
The Framework Agreement, which is immediately effective, also sets out a timetable for detailed negotiations and the implementation of a definitive Concession and Access Agreement for HPX’s infrastructure requirements.
the government made no prior announcement of an impending signing while the Legislature was still actively debating the ArcelorMittal 3rd Amendment. The 5-G speed with which the agreement was signed and announced, has many wondering whether there were other factors and backdoor dealings that birthed the HPX deal.
Our high-level source who has been reviewing signed copies of the framework document points out that the document appears to have been signed between Saturday, March 26 and Monday, March 28, 2022. While the title page carries a date of March 30, our source is certain that the HPX Framework document was signed much earlier than that.
The Framework Document, a copy of which FrontPageAfrica has obtained reveals that the Liberian government had been receiving payments from HPX Ivanhoe Liberia but failed to make public pronouncements on the payment. The Liberian government on December 23, 2019 received the first payment of US$7 million for the railway deal, according to the Framework Agreement.
The Framework Agreement referred to this upfront payment as “deposit”.
“It is recorded that Ivanhoe Liberia has paid to the Government a payment of US$7 million on 23 December 2019, which is referred to as the Deposit in clause 7.1 of the 2019 Framework Agreement and hereafter referred to as the “Up Front Payment 1”; the Framework Agreement states.
It continues: “the Up Front Payment 1 is no longer currently due for reimbursement and upon an event of default, the Government shall repay the Up Front Payment 1 in accordance with Clause 3.2 below; and
“nothing in this Agreement shall affect or prejudice any claim or demand whatsoever which any Party has against the other Party under clause 7 (Deposit Payment) of the 2019 Framework Agreement as amended and restated in this Clause 2.3(b); and
Billed as “Up Front Payment 2”, HPX is to pay the government US$30 million.
The payment line of the framework document specifically and categorically states that payment will be made “…with evidence of SWIFT transfers made within 4 business days on or before 3/31/22”
The Framework Agreement states: “a payment of US$30 million (the “Up Front Payment 2”) within 4 Business Days of execution of this Agreement, with evidence of SWIFT transfers made on or before March 31, 2022; and
“a payment of US$25 million upon the date falling 10 Business Days after the date on which the Concession and Access Agreement is fully effective and legally binding and the HPX Group (and/or its nominees) has unimpeded legal and physical access to all of the Infrastructure Corridor as is required to implement the HPX Project, to the satisfaction of the HPX Group (the “Up Front Payment 3”).”