Liberia’s President-Elect Boakai To Review Mining Concessions

Liberian President-elect Joseph Boakai, said his administration will take a close look at mining concessions to ensure the use of its full potential.

Boakai, 78, a former vice-president who campaigned on a promise to “rescue” Liberia, told Reuters in an interview that he expected a lot of challenges, particularly with the economy.

“The first step of rescuing Liberia is taking it from these people. It has been rescued. The next thing is to deal with the issues that have been hanging over this country,” Boakai said, citing corruption and lack of basic services.

Boakai said a key area from which Liberians had not benefited was the mining sector, despite the West African country’s rich mineral reserves, including diamonds, gold, iron ore and timber.

Several companies operate in Liberia’s mining sector, including ArcelorMittal (MT.LU) and Bao Chico Resources in iron ore mining concessions, Bea Mountain Mining and Avesoro Resources, which operates Liberia’s first commercial gold mine in gold.

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