Key Commodities

The mining sector comprises of a variety of mineral resources, both higher value metals and industrial minerals. The principal higher value metals include gold, diamonds, and iron ore, found in ancient greenstone belts in many parts of Liberia, as well as traces of platinum, uranium and niobium, and base metals such as nickel, cobalt, tin, lead and manganese. Key industrial rocks and minerals mainly include sulphur, phosphates, clays (kyanite), granite, silica sand, heavy mineral sands (rutile & ilmenite) and diabase/dolorite. These minerals exist in both smaller and large quantities across Liberia.
 

Economic History of Minerals

In Liberia, the mineral industry, particularly iron ore, has historically played a key role in the nation’s economic development. Hitherto 1990s, the minerals sector (particularly iron ore) contributed to over greater than 65 percent of export earnings and approximately 25 percent of GDP. The iron ore mining sector contributed more than 20 per cent of the gross national product and employed more than 50,000 people, or approximately 15 per cent of the country’s total workforce. The artisanal mining of alluvial gold and diamonds has also made a modest contribution to the national economy. During the 14 years of civil unrest between 1989 to 2003, mineral sector contribution dipped and investment in the sector reduced significantly. Exports of diamonds, a significant mineral sector export was banned. Large scale mines suspended operations, and some even closed due to the civil unrest. A consequential effect from these happenings were the significant reduction in revenues, jobs, infrastructure worn out and environmental impacts and overall poverty were worsened.

However, since 2005, investments in the sector have led to increased exploration and development of mines, especially in gold and diamond mines. As per the Minerals Policy of the Government of Liberia, the overarching strategy for the mineral sector is to institute appropriate policies and fiscal framework to attract investments to enhance its contribution to government revenues, foreign exchange earnings,employment creation, ancillary economic activities, human resources & technology development, and the improvement of social and physical infrastructure.

Mineral Geology of Liberia

Liberia lies in the centre of the Leo-Man Shield, across the boundary between the Archaean and Paleoproterozoic domains. The Archaean basement (3260–2850 Ma) extends across central and western Liberia, and is characterized by TTG gneisses, locally migmatitic, which are in folded with supracrustal metavolcanic and metasedimentary rocks and intruded by late-Archaean granitoids dated at c. 2800 Ma5. These geological characteristics are like that of other countries in the regions who produces significant levels of gold, iron ore, diamonds and other precious metals. The Archaean rocks are known for its iron ore deposits with the greenstone belts, with its largest deposits in south-east Guinea. The greenstone belts also host significant gold minerals with majority of them located in Ghana, Mali,Senegal, Niger, Burkina Faso and Côte d’Ivoire.

Liberia’s geological similarities with its neighboring countries in the region point to a higher potential of minerals. It is understood that, despite these potentials, Liberia is still one of the under explored country.Beside the traditional minerals (iron ore, gold, and diamonds), there is significant potential for other minerals including barite, heavy mineral beach sands (rutile, zircon, ilmenite and monazite), phosphate,clays, silica sand, copper, zinc and chromite.