—-As President Boakai Hail China for Successful Survey
A China-funded national survey on mineral resources has led to the discovery of significant new mineral deposits in Liberia, offering fresh opportunities for the country’s development.
The survey — the largest of its kind in Liberia in 50 years — has identified valuable minerals such as lithium, neodymium, silver, nickel, zinc, uranium and cobalt. These findings could allow Liberia to diversify beyond its traditional reliance on iron ore, rubber, gold and diamonds, according to the Ministry of Mines and Energy.
“We are grateful that China helped with this survey, which has resulted in Liberia discovering new minerals that could enhance the country’s development,” said Rexford Sartuh, assistant minister for mineral exploration and research at the ministry.
The discovery means a lot to Liberia, he said, as investment from companies could generate jobs and spur growth in regions where these minerals are found.
Fanseh Mulbah, deputy minister for planning at the ministry, said the survey — sponsored by the Chinese government and supported by Chinese technology — was the first in more than 50 years. The last similar resource survey was conducted in 1973 and funded by the United States, he said.
Some of the newly discovered minerals, such as lithium and cobalt, could play a crucial role in helping Liberia transition away from fossil fuels, as they are key raw materials in the electric vehicle industry, Mulbah added.
With these discoveries, companies can now start prospecting for the minerals through the proper legal procedures, he said.
Analyzing survey report
Addressing Liberia’s 55th Legislature last month, President Joseph Nyumah Boakai said the country had received a mineral resource survey report from the Chinese government. The survey uncovered a wide range of mineral resources, and the Ministry of Mines and Energy has since analyzed the findings, he said.
Boakai also highlighted progress on the $5.5 million Liberia Broadcasting System television and radio expansion complex, a China-funded project.
“The Liberia Broadcasting System is making significant progress in constructing a new television and radio expansion complex, which is ahead of schedule. This $5.5 million project, funded by the People’s Republic of China through China Aid, includes a complete refurbishment of the existing infrastructure and the introduction of modern advanced equipment,” he said.
He indicated that once completed, Liberia’s radio and television networks will experience a substantial improvement in their ability to inform, educate and entertain the public.
This Chinese Funded Survey Project now leads Liberia to attract $3 billion in investment after the discovery of new minerals, President Joseph Boakai said.
Studies conducted over five decades and funded by the Chinese show the iron ore and rubber exporter also has uranium, lithium, cobalt, manganese and neodymium deposits, among others, Boakai said in a state of the nation address late Monday.
Talks are currently underway with major multinational companies and local investors to mine the new minerals and invest in other related sectors such as energy, infrastructure and technology, he said.
The government projects economic growth to accelerate to 5.8% this year, supported by the new investments, from an estimated 5.1% in 2024, he said.
Inflation, which the central bank expects to quicken to as high as 12.3% by the end of March, will moderate to 6% by the end of 2025, Boakai said.
Boakai beat former football star George Weah to become president more than a year ago after campaigning to address high food and transportation costs and unemployment in the economy of 5.5 million people.
The faster growth could reduce the poverty rate in one of the world’s poorest countries to 27.8% this year from 31% in 2023, World Bank data shows.
