Wilmot J.M. Paye, Minister of Mines and Energy, Liberia, shared insights into the country’s mining opportunities in an exclusive interview with Energy Capital & Power.
What mineral opportunities exist in Liberia?
Critical minerals are the new frontier for Liberia’s mining sector. We recently completed a mineral potential survey that has provided a clearer picture of the country’s actual reserves. The survey identified over a dozen critical minerals, confirming the presence of lithium, cobalt, copper and nickel. With this scientific data in hand, we are reaching out to global investors interested in developing these resources.
Beyond critical minerals, Liberia has a long history of mining and its mineral potential remains largely untapped. The country has extensive deposits of iron ore, gold and diamonds, as well as significant bauxite reserves. We have large, undeveloped iron ore greenfield sites.
What new projects are expected in the short to medium term?
Four separate iron ore developments are progressing, with some moving into the feasibility stage following successful exploration. ArcelorMittal Liberia is ramping up production and is set to commission a major factory in Q1 – 2025, targeting a 5-million-ton production output in 2025.
We are also investing in rail and port infrastructure to support iron ore exports. In the gold sector, a Turkish firm is scaling up operations in western Liberia after generating $22 million in revenue from gold exports in Q4 – 2024 alone.
How is Liberia positioning itself as an attractive destination for global investors?
Most of the mining firms already in the country are from outside. Liberia is committed to creating a favorable investment climate for foreign mining companies. We have implemented policies to ensure security of tenure, allowing investors to repatriate profits with confidence. We have regulatory frameworks in place for strategic mineral operations, including heavy mineral concentrate sands mining. Our mining laws and exploration policies have been reviewed and updated to offer competitive incentives. Investors benefit from legal provisions such as 25-year land tenure agreements, ensuring long-term stability for their operations.
