Liberia plans national mining company and sovereign wealth fund
President Boakai announced plans for state participation in mining and a fund for future generations at a conference in Unification Town.
President Joseph Nyuma Boakai announced plans to establish a National Mining Company of Liberia and the Liberia Sovereign Wealth Fund during an international conference in Unification Town, Margibi County. The president stated that Liberia aims to process raw materials domestically rather than exporting them as raw exports. He stressed that minerals and energy should support industrial development, create jobs, and improve public services.
The proposed National Mining Company will increase state participation through equity and strategic ownership, moving beyond just royalty collection. Liberia also aims to establish its first gold processing facility within two years, aligning with the African Minerals Strategy Group’s call for value addition before export. The Liberia Sovereign Wealth Fund will be an independent investment vehicle, directing a portion of mineral revenues into diversified investments for long-term financial security.
President Boakai also detailed plans to improve the energy sector through renewable generation, stronger transmission and distribution, and regional integration. He highlighted that unreliable electricity constrains businesses and limits services for essential facilities like hospitals and schools. The conference brought together over a thousand delegates from Liberia and around the world.
Why it mattersLiberia's plans for a national mining company and a sovereign wealth fund aim to increase state revenue and ensure long-term financial security for future generations.