IPNEWS: On Wednesday, November 11, 2026, Liberian President Joseph Nyuma Boakai, Sr. signed Executive Order No. 171, establishing an inter-agency council to prepare for the creation of a state-owned National Minerals Company (NMC).
According to an official release from the Executive Mansion, the order is grounded in Article 22 of the Liberian Constitution and vests all subsurface mineral ownership in the Republic.
Key Provisions and Sector Reforms
Executive Order No. 171 establishes an interim councilโled by the Ministry of Mines and Energy alongside key financial, legal, and extractive transparency bodiesโtasked with drafting the National Minerals Company Act within 12 months.
The reform seeks to transition Liberia from raw exports to commercial equity and local processing, ensuring the future NMC acts strictly as a commercial entity separate from the Ministry’s regulatory powers, while facing strict interim restrictions on incurring debt or signing binding agreements.
This order builds on broader commitments unveiled by President Boakai at LIMEC 2026, which include plans to establish a domestic gold refinery within two years and launch a Sovereign Wealth Fund backed by mineral revenues.
Also, a US$30 million airborne geophysics data initiative under a Millennium Challenge Corporation compact paired with a review of legacy mining laws.
