• Liberia expects to finalize a revised mining code within three months, according to Mines Minister Matenokay Tingban.
• The government plans to allow a national mining company to take stakes of 10–15% in projects, with a long-term target of 25%.
•  Mining exports accounted for 85% of $1.35 billion in extractive revenues in 2023, according to EITI data.

 Liberia plans to accelerate the revision of its Mining Code in 2026. Mines Minister Matenokay Tingban said on Monday, February 16, 2026, that authorities expect to publish the new regulation within three months, according to Reuters. Liberia joins peers such as Côte d’Ivoire and Sénégal, which are pursuing similar reforms

In detail, the Liberian initiative will adjust the licensing regime and establish a framework that allows a national mining company to take equity stakes in projects. Authorities are considering a state participation of between 10% and 15% in mining ventures, with a longer-term objective of raising that share to 25%.

However, the current mining law, adopted in 2000, already allows the state to hold up to 15% in mining projects. The minister stated that the new code will maintain existing royalty rates on iron ore and gold, which remain Liberia’s main mineral products.

“We are moving from a royalty-only approach to equity participation to maximize returns, finance infrastructure and create jobs,” Matenokay Tingban added.

$3 Billion in Annual Natural Resource Revenues Targeted

Authorities first signaled the mining code update in December 2025 during the presentation of a five-year plan that aims to lift annual revenues from natural resources, including hydrocarbons, above $3 billion. The plan identifies a revision project designed to “strengthen the current regulatory framework for minerals and mining by 2029” as a central pillar.

The minister’s latest comments suggest that the government has accelerated the timeline for implementation. Market participants will now monitor how mining operators respond to the proposed changes and how swiftly lawmakers enact the reforms.

Liberia’s mining sector remains a cornerstone of the national economy, driven in part by companies such as ArcelorMittal and Avesoro Resources. According to a recent report by the Extractive Industries Transparency Initiative, mining exports accounted for 85% of the $1.35 billion generated by the extractive sector in 2023.

Aurel Sèdjro Houenou