Monrovia — Liberia is positioning its mining and energy sectors at the very center of its economic growth strategy, aiming to generate more than $3 billion in revenue over the next five years under a bold new policy framework launched by the Ministry of Mines and Energy. The strategy, unveiled at a high-level ceremony in the capital, reflects the nation’s intent to harness its abundant natural resources more effectively and transform them into sustained economic value for citizens.
Government officials, members of Liberia’s legislature, development partners and representatives from the extractive industries gathered to witness the unveiling of the Five-Year Strategic Plan for 2025–2029 — a comprehensive roadmap designed to modernize governance, enhance transparency, boost domestic revenue and expand the sector’s contribution to national development.
From Royalties to Equity Participation
At the heart of the strategy is a shift away from a narrow focus on traditional royalty collection toward equity participation in extractive ventures, a move officials say will allow Liberia to capture a greater share of mining and energy profits. “Planning is important, but implementation will always be the biggest hurdle we must overcome,” said Mines and Energy Minister R. Matenokay Tingban, acknowledging both the promise and challenges ahead.
Liberia’s geological wealth — including significant deposits of iron ore, gold, diamonds and other minerals — has long been recognized, but effective exploitation has often been hampered by outdated legal frameworks, limited data and weak institutional capacity. The new plan aims to address these constraints by modernizing mining and energy laws, improving licensing systems, and strengthening geological and hydrological data.
Strengthening Institutional Capacity and Governance
A central pillar of the strategy is to build institutional capacity across Liberia’s 15 counties by establishing regional offices for mining and energy services. Thirty mining engineers and geologists have already been recruited to work as county mining officers and resident geologists — a significant step toward improving oversight, data collection and regulatory compliance at the local level.
Minister Tingban emphasized that enhanced data generation and improved governance will be critical to attracting responsible investment from both domestic and international partners. Toward this end, the government has begun revising a mining law that has remained unchanged for more than 25 years, along with several supporting regulations that will modernize the sector’s legal foundation.
Decentralization and Formalization of Artisanal Mining
Recognizing the significant role played by artisanal and small-scale mining in local economies, the strategy includes steps to formalize and support these activities. Currently, only about 500 artisanal miners are licensed nationwide; the plan aims to expand this number and establish cooperatives, promoting safer practices and ensuring that more local communities benefit from resource extraction.
The Ministry also revealed plans to construct five new mining and energy facilities across key counties by 2029, backed by modest but strategically targeted investments. These facilities are expected to serve as hubs for technical services, regulatory oversight and stakeholder engagement.
Strategic Partnerships and Long-Term Vision
To bolster its data infrastructure, Liberia is engaging bilateral and multilateral partners — including China, the United States Geological Survey and the French government — to update its geological and hydrological databases, some of which have not been comprehensively revised since the early 1970s. This effort, officials say, is essential for credible resource assessment and investment promotion.
Revenue Authority officials also stressed that closing loopholes and enhancing inter-agency collaboration will be important to curb illegal mining, protect national assets and ensure that more revenue flows into the government’s coffers.
As Liberia seeks to convert its natural resource wealth into broad-based development outcomes, the new strategic plan represents both a pragmatic roadmap and a symbolic shift in how the country approaches extractive sector management. President Joseph Nyuma Boakai’s vision — encapsulated by the mantra “Think Liberia, Love Liberia, and Build Liberia” — underscores a renewed commitment to leveraging resource wealth for national growth, employment and sustainable prosperity.
Implementation, Oversight and Economic Promise
The plan’s success, officials acknowledge, will hinge on effective implementation, transparent oversight and continual stakeholder engagement. With an estimated $39.5 million budget, the initial phase is modest relative to the sector’s potential but designed to deliver early gains and build confidence among investors and communities alike.
If Liberia can translate strategic planning into measurable results, the mining and energy sector could become a cornerstone of the country’s economic transformation, generating billions in revenue and fostering inclusive development for years to come.
