Liberia’s Ministry of Mines and Energy has imposed an $80,000 fine and a temporary shutdown on Chinese firm Yi Cheng Mining for breaches of the mining law, including environmental damage and tax evasion.
This action is in accordance with the ministry’s strict zero-tolerance policy toward non-compliance within the mining sector, official said.
The fine levied on Yi Cheng is the latest demonstration of Liberia’s commitment to transforming its mining industry.
The Ministry has initiated a transformative wave marked by a groundbreaking technical audit of the Bea Mountain Mining Corporation. This audit has established a new benchmark for compliance, verifying production accuracy and ensuring the welfare of workers adheres to international standards.
In a bid to enhance operational efficiency and governance within the sector, the Ministry has also made strides in human capital development by recruiting and deploying 70 mining experts, including engineers and geologists. These professionals are expected to drive positive change, support private operations, and foster local expertise, thereby reducing the country’s reliance on foreign knowledge.
On the global stage, Liberia has made a strong impression at the Mining Indaba 2024, where the ministry showcased the nation’s untapped mineral reserves, attracting investors and forging partnerships that aim to reshape the economic landscape of the country.
The ministry’s rigorous inspections and new mandates aimed at environmental rehabilitation highlight its commitment to accountability and ethical governance.
