Liberia: Boakai Announces U.S.$30m Geological Survey, Gold Refinery Plan

What the report says

Liberian President Joseph Nyuma Boakai Sr. has outlined a set of mining-sector initiatives aimed at increasing investment, improving geological data and boosting local processing of mineral resources. Speaking at the opening of the Liberia International Mining and Energy Conference and Exhibition in Harbel, Margibi County, on October 28, 2026, he said the government plans a US$30 million geological survey under the Millennium Challenge Corporation compact to map the country’s mineral potential more clearly.

Boakai said the airborne data collection is intended to give investors better information for exploration and to support a national exploration programme over the next five years. He also said Liberia should establish its first gold-processing facility within two years, with gold refined domestically before export. According to the address reported by the Liberian Observer and carried by AllAfrica, the goal is to keep more value inside the country, create jobs and strengthen local businesses.

The president tied these proposals to a broader strategy that includes a National Mining Company of Liberia, a sovereign wealth fund and reforms to improve licensing and access to mining fee information. He also said the government wants to review the Minerals and Mining Law. The article reports that Boakai framed the measures as part of a wider effort to ensure Liberia benefits more directly from mining while also improving transparency and regulatory certainty.

The conference brought together officials, investors and development partners as Liberia seeks to develop resources such as gold, iron ore, diamonds and critical minerals. In a broader economic context, the president said mining remains an important contributor to growth and revenue, though the success of these plans will depend on financing, infrastructure, power supply and implementation details not yet fully set out.