Are you aware that the mining business is one of the most profitable businesses in the world? 

So investing in it will likely give you high returns. We will talk about a country that has great mining potential. And the best part? Most of it has not been explored yet.

In West Africa, Liberia has favorable deposits of a wide range of metals and industrial minerals. These include gold, iron ore, diamonds, base metals, bauxite, manganese, fluorspar, kyanite, and phosphate. Liberia’s mining sector is a key contributor to its economy, particularly through the extraction of iron ore, gold, and diamonds.

Iron ore, gold, and diamonds are the main mineral resources extracted in Liberia. Iron ore and gold are mined on a large industrial scale, while diamond mining is mainly done through smaller, artisanal methods. Liberia exports these minerals mostly in raw or semi-finished forms. Now, let’s look at each of these minerals in depth.

In 2023, Liberia ranked as the thirteenth-largest iron ore producer globally, with a 2% increase in output compared to 2022. However, over the five years leading up to 2022, Liberia’s iron ore production experienced a slight decline, with a compound annual growth rate (CAGR) of -0.87%. Looking ahead, production is projected to see modest growth, with a forecasted CAGR of 0.05% between 2023 and 2027.

There are several iron ore producers in Liberia, and one of the top ones is ArcelorMittal, which is a major global steel company. ArcelorMittal has invested significantly in Liberia’s iron ore industry since 2005. It operates the Tokadeh iron ore mine. It has also built critical infrastructure, such as railroads and ports, to transport the ore to Europe and Asia. They handle all the large iron ore projects of Liberia. 

Other key companies involved in iron ore mining in Liberia are China Union and Putu Iron Ore.. Since 2006, the sector has attracted billions of dollars in investments from major players like ArcelorMittal, Putu Iron Ore, and China Union, among others.

Liberia’s mining industry’s primarily based on iron ore. Iron ore is one of the principal mineral resources in Liberia and is mined in significant quantities. Minerals, including iron ore, contribute nearly one-fifth of the country’s total export earnings. 

Large-scale international companies hold mineral development agreements for iron ore operations in Liberia. There are still vast, unexplored, and unexploited iron ore deposits, such as those in the Wologizi Mountain, presenting further opportunities for investors. Your investment can help it grow even further. Your investment can help unlock mining potential in Liberia. It will also provide high returns.

The government is committed to attracting private sector investments for developing iron ore mines. Geological information and mineral data related to iron ore are being made widely accessible to prospective investors.

Liberia is filled with significant gold deposits. These are primarily exploited through alluvial and artisanal mining. These deposits are widespread in many parts of the country. Gold is one of the principal mineral resources occurring in ancient greenstone belts. The gold mining sector has seen growth, with a 49% increase in gold production in 2022. 

Bea Mountain Mining Company is Liberia’s first and largest commercial gold mine. The New Liberty Gold Mine is operated by this company, a subsidiary of Avesoro Resources. Other key companies involved in gold mining are Hummingbird Resources, MNG Gold Liberia.

Liberia has seen significant growth in the production of gold from 141,342 ounces in 2020 to 376,754 ounces in 2022. Exports have increased from $194.4 million to $542.9 million. Pasofino Gold is developing the Dugbe Gold Project, which covers 2,078 square kilometers in southern Liberia. The project operates under a 25-year agreement with the government, including a 3% royalty rate on gold production. Only a small portion has been explored, but findings are promising, including a combined Measured and Indicated Resource of about 3.3 million ounces of gold​

Artisanal and small-scale mining (ASM), especially for gold and diamonds, is widespread. But it is poorly regulated. Many miners are unlicensed, and the government struggles to enforce mining laws in remote areas. 

To improve the sector, the Ministry of Mines and Energy introduced a roadmap in 2016 aimed at regulating artisanal miners and encouraging them to form cooperatives. The goal is to improve working conditions and attract foreign investment. Investment to improve these areas can help bring a change.

There are significant opportunities in gold mining, particularly in artisanal mining, which is currently dominated by local miners. Investors can enter this sector as artisanal gold mining presents a great potential for development. In recent years, the government has been working to attract medium to large-scale operations in the gold sector.

Diamond deposits are widespread across Liberia and are primarily extracted through alluvial and artisanal mining. These deposits are one of the country’s key mineral resources, occurring in ancient greenstone belts. There is ongoing government interest in attracting medium to large-scale diamond mining operations. Some investors have already entered this sector.

There are significant opportunities in diamond mining in Liberia. There are opportunities in artisanal mining, which is currently dominated by local miners. Following the lifting of the UN ban on Liberian diamonds and the country’s adherence to the Kimberly Process (ensuring diamonds are conflict-free), Liberian diamonds are now accepted in international markets. And they are considered socially acceptable to consumers. 

Key Companies mining diamonds are Hummingbird Resources, MNG Minerals, China Union, and AmLib United Minerals Inc.

DMC announced the discovery of a potentially large diamond field in northwestern Liberia. This could make Liberia one of the largest kimberlite fields in the world. This discovery presents an opportunity for substantial revenue generation amid the country’s struggles​. It also offers a magnificent chance to invest.

Liberia offers significant opportunities for mining investments. This is because of its abundant resources of iron ore, gold, and diamonds. Despite some challenges, the government is committed to improving the regulatory framework. They are also adhering to international standards such as the Kimberly Process. This commitment positions Liberia as an attractive destination for sustainable mining. 

Investing in this sector will help investors get substantial financial returns. Along with getting high returns, investors can also promote the socio-economic growth of Liberia. With the country increasingly open to international investors, now is the time to invest in Liberia. So wait no further and invest now!