The Liberian government is pursuing plans to establish the country’s first gold refinery as part of a broader strategy to maximize revenue from its mineral resources and strengthen value addition within the mining sector.
Speaking at the Government Town Hall Meeting on the Extractive Industry in Bomi County on Friday, October 9, Minister of Mines and Energy R. Matenokay Tingban said the government is actively engaging foreign investors and mineral processing companies to set up a gold refinery in Liberia.
According to the minister, the initiative is aimed at reducing the country’s dependence on exporting raw minerals and ensuring that more economic benefits are retained within Liberia.
“Right now, at the ministry, we are inviting mineral processing companies to establish a gold refinery in Liberia,” Tingban said. He stressed that local processing of minerals is essential to increasing government revenue and creating greater value from the nation’s natural resources.
The minister noted that Liberia has long exported minerals in their raw form, limiting the country’s ability to fully benefit from its extractive sector. Establishing a refinery, he said, would position Liberia to capture a larger share of the value chain while creating opportunities for economic growth and job creation.
In addition to refinery plans, Tingban disclosed that the government is seeking investment partners to undertake comprehensive geological surveys aimed at determining the quantity and commercial value of Liberia’s mineral deposits.
He explained that previous assessments conducted by the United States Geological Survey identified the presence of mineral resources across the country but did not establish the volume or extent of those deposits.
“As a result, following the United Nations General Assembly, we have invited investors to come to Liberia and conduct detailed geological surveys to generate the scientific data needed for informed decision-making,” he said.
Tingban emphasized that the absence of detailed geological information often places the government at a disadvantage during negotiations with mining companies. He noted that investors typically collect extensive geological data before entering discussions on Mineral Development Agreements (MDAs), while the government may lack comparable information.
He said conducting nationwide geological surveys would provide Liberia with accurate scientific data, strengthen its negotiating position, and enable policymakers to make more informed decisions regarding the management and development of the country’s mineral wealth.
