• Liberia targets over $3 billion annually from mining, energy by 2029

• Government to modernize geology data, digitize procedures, boost state equity

• Artisanal mining expansion planned; strategy backed by $39.5 million investment

Liberia plans to make mining and energy a key source of public revenue, seeking to generate more than $3 billion a year from natural resources under a new 2025-2029 strategy, the government said.

The plan, unveiled by the Ministry of Mines and Energy at a ceremony in Monrovia in late December 2025, focuses on strengthening domestic exploration capacity and developing a reliable geological database. Authorities will seek technical support from France, China and the United States to update national geological information dating back to 1972, the local Daily Observer newspaper reported.

The ministry also plans to digitize 80% of its procedures by 2029, up from about 40% currently. It aims to reduce reliance on mining royalties by increasing the state’s equity participation in mining projects. Under existing legislation, the government is entitled to a free carried interest of between 10% and 15% in mining ventures.

In the artisanal and small-scale mining (ASM) segment, Liberia intends to double the number of licensed miners to 1,000 by 2029 from around 500 today and establish 15 ASM cooperatives. The strategy is backed by total investment of $39.5 million, including funding from the African Development Bank.

“The mines and energy sector can contribute significantly to our national budget to appreciable levels beyond three billion dollars if we invest in areas where returns will be highest,” Mines and Energy Minister Matenokay Tingban said.

Liberia’s extractive sector currently depends almost entirely on mining, as no commercial oil production has begun in more than two decades. In September 2025, authorities awarded several offshore exploration blocks to France’s TotalEnergies, hoping for a major discovery.

A December 2025 report by the Extractive Industries Transparency Initiative (EITI) showed that Liberia’s mining exports reached $1.16 billion in 2023, driven mainly by gold at 48.82% and iron ore at 35.68%, while diamonds accounted for a marginal share. Although the government aims to triple mining revenues by 2029, it has not specified the projected contribution of each mineral.

Emiliano Tossou