— Mines, Energy Minister describes survey as a significant step to boost the sector
Liberia recently launched its Mineral Survey Report, a significant milestone according to Mines and Energy Minister Wilmot J.M. Paye, who foresees positive developments in the country’s mining sector. Paye predicted a new future for the country’s development agenda, stating that the mining sector presents a perfect opportunity for growth.
Speaking recently at a program marking the official handover of the survey report, the Minister noted that the findings will help to propel the country to new heights and future possibilities for development.
The survey project, conducted in collaboration with the People’s Republic of China, aims to uncover Liberia’s vast mineral resources potential and marks the first comprehensive survey in 50 years.
The project was implemented by the Wuhan Center, China Geological Survey (Wuhan CGS), Institute of Geophysical and Geochemical Exploration of Chinese Academy of Geological Sciences (IGGE), and China Academy of Aerospace Aerodynamics (CAAA). The survey project began in 2013 when the agreement was officially sealed between both governments.
“This should present us with an opportunity for growth. This is a significant step to boost the sector,” said the Minister.
Emphasizing the importance of this initiative, Minister Paye highlighted the role of China as a valuable partner in Liberia’s geological information gathering efforts.
Minister Paye noted that the handover is a testament of the elevation of the China-Liberia tie by President Joseph Nyuma Boakai.
“China has proven to be one of Liberia’s partners. It was our pledge to get Liberia’s geological information,” he asserted as he also lauded other partners including the United Kingdom, United States for their support over the years.
According to the Mines and Energy Minister, the survey will serve as a useful guide for the country in setting aside protected areas.
Vice President Jeremiah Kpan Koung echoed similar sentiments as the minister, underscoring the crucial contribution of the mineral sector to Liberia’s economy. He emphasized the need for responsible exploration and extraction to maximize returns and promote sustainable development.
The survey results are expected to provide essential data for improved management and planning in the mineral sector, laying the groundwork for a more stable economy and attracting foreign investments.
VP Koung acknowledged the historical support from countries like the United States and the United Kingdom in advancing Liberia’s mining industry, emphasizing the importance of building on these partnerships. He underscored the mineral sector’s pivotal role in Liberia’s economy
The Vice President stressed that the sector does not only contribute significantly to the nation’s GDP but is also the backbone of Liberia’s exports.
“With mineral resources contributing an impressive 52 percent to Liberia’s GDP and accounting for 93 percent of its exports, we must harness this potential for sustainable development,” he stated.
“This is a monumental step for Liberia,” VP Koung noted, pointing to the survey’s potential to shape the country’s future economic trajectory.
Liberia is blessed with a range of mineral resources, including gold, diamonds, and iron ore, which remain largely untapped.
He expressed optimism that Liberia’s mineral wealth would benefit its citizens directly, highlighting the potential for economic independence and reduced reliance on foreign aid. The Vice President called for transparency and responsible mining practices to ensure that the wealth from Liberia’s resources benefits all its people.
His message rallied for unity and cooperation in leveraging the mineral sector for the country’s collective progress.
The Vice President highlighted the country’s mineral wealth as an opportunity for significant economic growth.
“Our nation’s mineral wealth, if managed effectively, has the potential to transform Liberia and lift countless people out of poverty,” he remarked.
He emphasized that responsible exploration and extraction could maximize returns, providing jobs and infrastructure development.
VP Koung expressed the government’s gratitude to the People’s Republic of China for its continued support and collaboration.
The mineral survey, conducted by experts from both countries, is expected to provide Liberia with vital data to improve management and planning in the mineral sector.
VP Koung acknowledged China’s contribution as a testament to Liberia’s expanding partnerships and growing influence in the global mining industry.
The recent mineral resource survey is the first extensive assessment of Liberia’s mineral potential in decades.
VP Koung noted that previous studies were either incomplete or outdated, underscoring the importance of up-to-date data for investors and policymakers.
“For Liberia to thrive, we need current information that reflects our real potential,” he said, highlighting that the survey fills a longstanding gap in the sector’s knowledge base.
VP Koung emphasized that the survey would lay the foundation for a more stable economy. By pinpointing Liberia’s resources, the data could attract foreign investment and lead to a more regulated mining industry.
With clear insights into Liberia’s reserves, the government hopes to negotiate fairer deals and ensure that more profits remain within the country, supporting local communities and development.
During his speech, VP Koung also acknowledged the historical contributions of the United States and the United Kingdom in advancing Liberia’s mining sector.
He reminded attendees that these partnerships have paved the way for Liberia’s current progress and that international allies have long recognized the nation’s potential.
“We remember those who have helped us, and we hope to build on those foundations,” he said, highlighting Liberia’s global connections.
VP Koung expressed optimism that Liberia’s mineral resources would soon benefit Liberians more directly.
He asserted that local communities should be the primary beneficiaries of mining activities, suggesting the survey could facilitate policies ensuring this outcome.
VP Koung’s message was clear: Liberia should capitalize on its resources to foster economic independence and reduce reliance on foreign aid.
With the release of the mineral survey results, VP Koung extended an invitation to local and international investors.
He argued that the clarity provided by this new data could attract investors looking for new opportunities. “Liberia is open for business, and we have the resources to back it up,” he said.
The Vice President sees the survey as a crucial tool to help attract credible investors who are interested in responsible mining practices.
The Vice President acknowledged the environmental impact of mining and promised that the government would take steps to ensure sustainable practices.
He called for responsible mining to protect Liberia’s rich biodiversity, adding that the survey data would also help create more environmentally conscious policies, addressing a longstanding concern among communities affected by mining operations.
Transparency was another key aspect VP Koung highlighted. He promised that the survey results would be used to bring more transparency to the mining sector, with clear guidelines and regulations.
“We want to ensure that the wealth from our resources benefits the people of Liberia, not just a few,” he affirmed. By implementing transparent policies, the government aims to make the mining sector more accountable and fair.
