MONROVIA: The Liberian Leader Joseph N. Boakai says the Liberian mineral sector holds some of the best potentials to improve economic growth with iron ore mining playing a leading role in mineral development.
He said this attracted global mining giant like ArcelorMittal operation in Yekepa, Nimba and Buchanan, Grand Bassa Counties which is the largest mining activities currently in Liberia holding the capacity to ship over three million tons of iron ore annually.
The Liberian leader’s statement was contained in a keynote address at the Liberia Investment Forum 2024 held on Thursday, September 13, 2024, in Toronto, Ontario, Canada.
According to him, other investment in critical minerals area like gold and diamond not only demonstrates variability of the sector but also underscores Liberia’s potential as a significant player in the global mining.
He noted that, the continued expansion of mining sector bears the potential to contribute significantly to employment, income generation and infrastructure development and improved the living condition of the Liberian citizens.
“Energy is another sector that requires much investment if the country must leverage its potential to develop a productive economy as Liberia face a growing demand for reliable electricity,” he said.
The Liberia leader told the gathering that, as Liberia economy expand, there remains a need for increased investment in power generation, transmission and distribution infrastructure.
President Boakai said Minutia Hydro International is one of the few companies, in recent years, ventures into Liberia energy sector, though they no longer have a presence in Liberia but its previous involvement in electricity and infrastructure process contributed to the country’s effort in power generation and distribution.
“We believe that the knowledge exchange, collaboration and networking opportunity presented here will lay the foundation to bolster Canadians interest to invest in Liberia, leverage expertise and resources to unlock the full potential of our key sector,” he stressed.
He said the immediate opportunity to meet growing demand is that Liberians are eager to work with Canadian companies that have the expertise and wherewithal to help it bridge the gap between supply and demand and ensure that Liberia’s energy needs are met sustainably.
