Liberia Positions Itself for $4.8 Billion Investment Surge as Global Mining and Energy Firms Return
Liberia is preparing to unlock up to $4.8 billion in new mining and energy investments, signaling renewed international confidence in the country’s economic prospects as foreign investors re-engage with one of West Africa’s smallest but resource-rich economies.
President Joseph Boakai, speaking during his State of the Nation Address, said the anticipated inflows are expected to drive economic growth, infrastructure expansion, and job creation, forming a central pillar of his administration’s strategy to revitalise Liberia’s economy.
Mining and Infrastructure Deals Anchor Investment Drive
The bulk of the projected investment, approximately $4 billion, is tied to large-scale mining and infrastructure agreements with US-based Ivanhoe Atlantic Inc. and Luxembourg-headquartered ArcelorMittal SA.
ArcelorMittal, Liberia’s largest mining investor, operates the iron ore mine in Yekepa, in the country’s northern region. Under an amended Mineral Development Agreement, the company plans to more than double annual iron ore exports, increasing production from about 8 million metric tons to nearly 20 million metric tons.
This expansion will be supported by the construction of a new concentrator plant at the Yekepa concession, alongside significant upgrades to railway and port infrastructure, reinforcing Liberia’s position as a critical mineral export corridor in the region.
Ivanhoe Atlantic has also signed a railway access agreement, enabling the transport of iron ore from neighboring Guinea through Liberia’s transport network. The deal strengthens Liberia’s role as a regional transit hub for mineral exports and enhances the strategic value of its infrastructure assets.
Oil and Gas Sector Eyes $800 Million in New Capital
In the energy sector, Liberia is targeting up to $800 million in fresh investment following the signing of eight new petroleum agreements. Four agreements were signed with France’s TotalEnergies SE, while the remaining four were secured with Nigeria’s Oranto Petroleum, marking a renewed push to develop the country’s offshore hydrocarbon resources.
TotalEnergies has obtained offshore exploration permits for Blocks LB-6, LB-11, LB-17, and LB-29, covering key areas within Liberia’s offshore basins.
Oranto Petroleum’s agreements span Blocks LB-15, LB-16, LB-22, and LB-24 in the Liberian Basin and include a $12 million signature bonus, with planned investments of up to $200 million per block.
Further underscoring growing investor interest, a major US oil company has applied to pre-qualify for the same offshore blocks, signaling potential participation in future licensing rounds.
Established Investors Maintain Strong Presence
Beyond the new agreements, several international firms continue to play a major role in Liberia’s extractive and agribusiness sectors.
China Union operates the Bong iron ore mines, while Bea Mountain Mining, owned by Avesoro Holdings, runs one of Liberia’s largest gold operations.
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In southern Liberia, Pasofino Gold, a Canadian junior miner, is advancing the Dugbe gold project and is seeking financing to complete feasibility studies, an early indicator of renewed international interest in the country’s gold sector.
Meanwhile, Firestone Liberia, a subsidiary of Bridgestone Corporation, remains one of Liberia’s longest-standing foreign investors through its extensive rubber plantation operations.
Government Pledges Fairer Concession Frameworks
President Boakai emphasized that his administration is committed to responsible resource development and equitable economic outcomes.
“The government has strategically leveraged opportunities to attract credible investments and responsibly exploit natural resources for the benefit of Liberians,” he said.
He added that ongoing reviews of concession frameworks aim to correct historical imbalances and ensure that Liberia’s natural wealth delivers long-term, inclusive benefits for its citizens.
