At A Glance
In addition to major quantities of iron ore, there are also substantial deposits of gold and diamonds as well as indications of manganese, bauxite, uranium, zinc, and lead.
The most rapid growth has been in iron ore, where three respected multinationals have signed long-term, multibillion-dollar mineral development agreements:
Rich Mineral Deposits. In 2008, gold exports totaled roughly 20,000 ounces and USD 13 million, more than double exports in 2007.
Iron ore: Before the civil crisis (1951-1985), 613 metric tons of ore had been mined; it is estimated that there is a present reserve of 3,443 metric tons.
- In 2006, ArcelorMittal, the world's largest steel company, signed an agreement to take over the old LAMCO Mines in Nimba Country, with an expected investment of USD 1.6 billion.
- In 2009, China Union signed a USD 2.6 billion agreement to take over Bong Mines.
- In 2010, BHP Billiton signed an agreement to continue exploring and begin developing iron ore in four counties.
Gold: Commercial opportunities are emerging, and several companies are currently conducting large-scale gold exploration. In 2008, gold exports totaled roughly 20,000 ounces and USD 13 million, more than double exports in 2007.
Diamonds: In 2008, diamond exports were roughly 61,000 carats and USD 10 million. However, a study commissioned by the government found that the country's diamond exports could eventually reach 200,000 carats. The discovery of kimberlite pipes, the most important source of mined diamonds today, pushes that potential higher.
Numerous kimberlite pipes and dykes have been discovered in the western parts of Liberia.
For additional information, please either download the National Investor's Guide or contact the National Investment Commission or the Ministry of Lands, Mines and Energy..