By Festus Poquie
The United States has stepped up commercial diplomacy with Liberia, signaling renewed interest in the West African nation’s mining, oil and gas sectors as Monrovia seeks foreign investment to develop its natural resources.
Liberia, a country of about 5.5 million people, announced earlier this year that it has deposits of critical minerals—including lithium, manganese, cobalt and neodymium and is targeting roughly $3 billion in investment to develop those resources.
President Joseph Boakai and his administration have been actively courting U.S. investors across natural resources and fisheries as part of a broader strategy to transition from aid dependence to trade-led growth.
On the heels of a July 2025 African leaders’ summit in Washington, Liberia disclosed a major deal with Ivanhoe Atlantic Inc.
The agreement, valued at $1.8 billion, will permit the company to rehabilitate and operate Liberia’s railway infrastructure to transport iron ore from neighboring Guinea for export.
Ivanhoe Atlantic is majority-owned by an entity founded by Robert Friedland, chairman of Ivanhoe Mines Ltd., and the company is reportedly pursuing mining rights for areas once operated by BHP Billiton.
Diplomatic engagements in Monrovia underscored growing U.S.-Liberian economic cooperation. The U.S. Embassy said Chargé d’Affaires Joseph Zadrozny met with Liberia’s Minister of Finance and Development Planning, Augustine Kpehe Ngafuan to review the country’s transition “from aid toward trade and investment.”
According to the embassy, the meeting highlighted opportunities for expanded cooperation in mining, energy, technology and agriculture, and reaffirmed ongoing U.S. support for Liberia’s health sector.
Both sides also welcomed an upcoming Millennium Challenge Corporation (MCC) delegation visit to assess Liberia’s progress and potential re-eligibility for a second compact. The embassy said the United States will continue to work with Liberia to identify ways to strengthen economic ties.
Energy sector prospects and regional geology
Liberia has also attracted attention as a promising prospect for offshore oil and gas exploration. Several U.S. energy firms, including Chevron and ExxonMobil, have operated in Liberia’s hydrocarbon sector.
In April 2023, ExxonMobil applied to pre-qualify to bid on four offshore exploration blocks in the Liberia Basin—blocks 15, 16, 22 and 24—under a process that could lead to a petroleum-sharing agreement.
The company is pursuing direct negotiations after a government decision to withdraw a separate bid round focused on the Harper Basin in Liberia’s eastern waters.
Part of the renewed interest in Liberia’s offshore potential stems from successes in Guyana. Geophysical data firm TGS has pointed out that the two coastlines can be “tectonically reconstructed” across the Atlantic, suggesting analogous subsurface structures where hydrocarbons could be present.
Guyana, which emerged as a recent frontier province, recorded multiple discoveries before reaching the current multi-billion-barrel reserve estimates—an outcome that has sharpened investor focus on similar Atlantic-margin provinces.
