The Liberian Ministry of Mines and Energy, in collaboration with the African Development Bank (AfDB), has published a report examining the expansion of financial access for artisanal and small-scale mining (ASM) in an attempt to enable regulatory and institutional frameworks within the sub-sector.
The report highlights the feasibility to support small-scale miners throughout the country through measures aimed at formalizing and de-risking the sub-sector while providing additional services to improve greater financial inclusivity.
“Artisanal and small-scale mining is a vital livelihood source for a sizeable and needy population of rural and peri-urban Liberians, as well as millions in sub-Saharan Africa who often travel around their countries in small groups to identify sites where they believe precious minerals or metals can be found,” stated the AfDB Country Manager for Liberia, Benedict Kanu.
The Ministry of Mines and Energy has highlighted its intention to work with development and commercial banks, such as the AfDB, as well as with smaller finance institutions and other partners, to promote socioeconomic development in the country while offering context-specific solutions to enforce mining laws and ensure that miners are properly trained and licensed.
A pilot project launched by the AfDB in August 2020 has served to support the ASM sub-sector by formalizing small-scale mining through policy enforcement and local content building throughout Liberia while enhancing operational and sustainable efficiency.
