A US-backed mining venture is planning to produce 200,000 ounces of gold a year in Liberia by 2028, a target that would nearly double the country’s current nationwide output and could shift the West African nation’s export profile away from iron ore and rubber toward bullion.
Mansa Resources, backed by New York-based Orion Resource Partners, said it aims to pour about $600 million into the Dugbe Gold Project over the next three years, as it advances one of Liberia’s largest undeveloped gold deposits in the country’s southeast.
The project, which has long been viewed as a prize asset, could become Liberia’s first major gold mine and help establish the country as a more prominent global gold exporter.
The investment plan, outlined after meetings between Mansa chief executive Sébastien de Montessus, Orion executives and President Joseph Boakai in June, comes as Liberia seeks to attract large-scale foreign capital while ensuring resource projects deliver jobs, tax revenue and local business opportunities.
“Dugbe is not just a mining investment. It is a broad economic stimulus for Liberia,” de Montessus said after the meetings. He said the mine would generate strong linkages into the local economy through suppliers, transport firms, hospitality businesses and small and medium-sized companies.
At full scale, Mansa expects Dugbe to employ about 900 to 950 people, with Liberians making up roughly two-thirds of the workforce at start-up and as much as 90% to 95% within four years, supported by training and apprenticeship programs.
The company said it wants to prioritize local procurement, contractor engagement, infrastructure and community development as part of the buildout.
The production target is ambitious. Liberia’s gold output remains modest relative to larger African producers, but Dugbe’s planned annual production of about 200,000 ounces would mark a step change.
Liberia’s gold exports reached $1.03 billion in 2024, making gold the country’s biggest export, ahead of iron ore and rubber, according to trade data.
The mineral has already become Liberia’s most important foreign-exchange earner, accounting for the bulk of export growth last year as iron ore shipments declined and rubber rebounded. Together, gold, iron ore and rubber made up about 94% of Liberia’s export earnings in 2024, underscoring how much is riding on a handful of commodities.
A successful Dugbe development could deepen that shift. With estimated measured and indicated resources of more than 3.3 million ounces and a gross metal value above $6 billion, the project is widely seen as one of the most lucrative in Liberia.
If it reaches planned output, Dugbe could strengthen government revenues through royalties, taxes and payroll payments while widening Liberia’s footprint in global gold markets.
For the Boakai administration, the project fits a broader push to attract long-term investment tied to domestic economic benefits. The government has pledged a stable and predictable investment climate while pressing companies to deliver jobs, infrastructure and broader development.
Mansa, formed after restructuring Hummingbird Resources’ West African assets, now controls the Kouroussa gold mine in Guinea as well as Dugbe in Liberia. Its shareholder base includes Orion Resource Partners and Burkinabè businessman Idrissa Nassa, founder of Coris Bank International.
The company still needs updated technical studies, financing, permits and construction work before production can begin. But the Monrovia meetings signaled strong political backing for the project and growing confidence that Dugbe could become a flagship for Liberia’s mining sector — and possibly a turning point in the country’s export mix.
If delivered on schedule, the mine could help Liberia move beyond its historic dependence on iron ore and rubber and position the nation as a meaningful gold exporter on the world stage.
