Liberia has a rich endowment of potential mineral resources which need to be capitalize to create wealth and grow a healthy microeconomic.
According to the world bank Liberia country report released in October this year, economist indicated that Liberia mining sector grow by 7%, as compared to the non-mining sector such as agriculture and manufacturing which declined by 3-4%.
This revelation by the world bank Liberia signified that the Mining sector of Liberia has the overwarming potential to be an engine of economic growth.
In buttressed of the world bank report the minister of Mines and energy Gusler murry commended the world bank team in Liberia for appreciating t he efforts of the Government “ adding the report clearly signified a key strategy of the weah led government in which the mining sector is being used to generate more revenue to stimulate growth.
Minister Murry indicated that since the sitting of the Weah led Government in January 2018, the ministry of mine and energy along with other stakeholders institutions has exerted much efforts aimed at reopening of derelict iron ore mines as well bring into operation new ones.
He noted that falling prices of iron ore in the last several years in the global commodities market are invariably linked to the accelerated development of iron ore projects.
Murry who made the statement recently at the official commencement of a three days semica Liberia mining, Energy and Exhibition Conference said the forecast by some analysts that the global iron ore product is expected to grow by 0.9% annually until 2028, also offers a glimmer of hope for the Liberian iron ore industry and as well a promising news for Euronomba and others mining projects nearby Guinea that are seeking transshipment and export mining projects using the Liberian rail and port facilities.
It can be recalled Recently in October 2019 the government of Liberia and guinea signed a implementation Agreement for the share use of resources and infrastructure between the two Countries.
Currently only Arcelor Mitta which has its operation in NORTHERN region of Liberia Is mining and exporting iron ore on a relative low scale adding” there is hope that other Companies including Putu, China union, Western Cluster, Wologizi, Tawana, Bomi East ETC. wil also start operations.
The is no dough that Liberia is currently suffering from the Dutch disease due to its over dependence on iron ore as its main source of exports earning for decades running, but for now Liberia Is shifting the paradigm by diversifying more into gold, Diamond, AND NON TRADITIONAL Minerals such as coltan, lithium, Graphite, Bauxite, Barite, Phosphates Metals and several others.
Giving the potential of Liberia Murry told participant at the Semica Lberia conference that Liberia look forward to more exploration companies taking up ground to assess the potentials of Liberia minerals, adding there are two industrial gold mines located in the central and western region in the country with a third due to come on the stream in the southeastern region, gold and Diamond mining operation it currently taking place in all of the 15 counties”