Business
Community Memorandum of Understanding Concluded
Community Memorandum of Understanding Concluded.
About this update from Capital Metals Plc
[{"type":"text","content":"\n \nRNS Number : 3924X Equatorial Palm Oil plc 05 May 2016 \n\n5 May 2016\n \nEQUATORIAL PALM OIL plc\n(\"EPO\" or the \"Company\")\n \nCommunity Memorandum of Understanding Concluded\n\nEquatorial Palm Oil plc (AIM:PAL), the AIM listed palm oil development and production company with operations in Liberia, West Africa today announces that, following a formal consultation process, its Liberian subsidiary (\"EPO Liberia\") has signed a Memorandum of Understanding (\"MOU\") with designated community leaders over four key areas on Palm Bay estate to allow development of its oil palm activities. \n \nThe MOU was signed between EPO Liberia, Community Elders, Leaders and Residents of Tarlo Town, Blayah Town, Nuhn Town and Qlakpojelay (the \"Community\") and have come to a joint resolution with regards to the planned development of these areas on Palm Bay estate. A detailed list of signatories which demonstrate an accurate cross section of the Community areas have signed the MOU, including some of the communities not presently in favour of development. \n \nThe signing ceremony, which was witnessed by several local and international press organisations, follows a process whereby EPO Liberia and the Community Elders (\"the Parties\") have jointly mapped the areas which can and cannot be developed for oil palm. This joint mapping exercise was inclusive of the consenting and non-consenting communities of the Phase 1 development at Palm Bay and was witnessed by the District Commissioner of District #4 of Grand Bassa County. \n \nThe Company is pleased to fully disclose the full detail of the agreement which is as follows:\n· The Company will not develop or plant oil palm on the priority land areas where the Community does not want the Company to develop its oil palm plantation.\n· A map presented as Annex 1 to the MOU illustrates the priority land area where the Community does not want the Company to develop its oil palm plantation.\n· The Company will proceed with its land development in areas ceded by Consented communities in the Phase 1 boundary as guided by its Sustainability Policy.\n· The Company will only develop the remainder of the concession land outsi...