Bomi Bonanza

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After wartime service in Africa, ex-Lieut. Colonel Lansdell K. Christie heard about Liberia's "Devil Mountain," a rich lode of iron ore in the Bomi Hills. Business-wise Christie, who had made a small fortune operating a barge line in New York, went back to Liberia after he was demobilized. He wangled a concession from the Liberian government to mine the mountain area, where ore assayed 68% iron (average in the Mesabi Range: 51%).

Last week, Christie persuaded Republic Steel Corp. to come in on his deal. He sold the corporation approximately 20,000 shares in his Liberia Mining Co., Ltd. (no connection with Edward R. Stettinius Jr.'s Liberia Co.—TIME, Oct. 6, 1947). In two years, he and Republic hope to be shipping 1,000,000 tons a year from Monrovia to Republic and other U.S. steel mills.

Christie has already spent $1,500,000 on his project, $300,000 of it building a road from Monrovia to the mountain 45 miles away. He expects to spend a total of $8,000,000 building a railroad to the mine and getting the mine in operation. Just how much ore is in the mountain has not been determined. But Christie and Republic estimate it upwards of 30 million tons, enough to make the deal highly profitable for both of them, as well as for Liberia.