Deal #3464 Version #61373

Contract states: 27,000 hectares in size from which an area of 22,000 hectares will be mutually selected to be part of the concession area and an area equal to 5,000 hectares of land will be mutually selected for the outgrowers' program. Thus total size is 35000ha (contract states existing land size is 8000ha not 8800ha). Another data source states of the total 35,000 ha: 4,500 hectares are currently planted with rubber trees, which are to be progressively replanted, 25,500 hectares will be available to extend the CRC plantations, 5,000 hectares will be devoted to the cultivation of rubber by peasant farmers. Another data source states size is 27316.305 ha.

Contract is renewable. Cavalla Rubber Corporation and the Government shall meet not later than 10 years before the expiration of the contract to discuss the extension of the contract. Contract states duration of lease is 50 years including 7 years for rehabilitation. Another data source states 25 years.

CRC, previously owned by the government wa privatised in 1987 and leased to SIPEF and SCF. However due to the civil unrest little or no investment occured between 1990 to 2006 necessitating installment by the government of Liberia. In 2006, SIPEF sold its interest in the company to Salala Rubber Investment. In 2008 the current owner obtained a 60% share in the company. This was extended to 100%. Contract signed in 2011- 06/06/2011 (date of ratification).

Operation was disrupted between 1990 and 2006.

Contract states the company shall pay annually a surface rental fee of US $2.00 per acre within the developed area and US $1.00 per acre of undeveloped land within the concession. This amount shall be subject to inflationary adjustment. Data obtained from a formal source (contract). The company paid a total of US$10,000 for surface rental for the period 1 July 2010-30 June 2011.

Contract states: Cavalla Rubber Corporation shall establish an outgrower's program within 3 years of the effective date.Cavalla Rubber Corporation shall exclusively develop and manage the land designated for such program on a cost recovery basis for the benefit of the outgrowers as shareholders in organized cooperatives. Cavalla Rubber Corporation shall have the exclusive right to, and commits to, purchase produce harvested from this program.