Liberia anticipates new minerals discovery will draw $3bn
Liberia expects to attract $3-billion in investment after the discovery of new minerals, President Joseph Boakai said.
Studies conducted over five decades and funded by the Chinese show the iron ore and rubber exporter also has uranium, lithium, cobalt, manganese and neodymium deposits, among others, Boakai said in a state of the nation address late Monday. Talks are currently underway with major multinational companies and local investors to mine the new minerals and invest in other related sectors such as energy, infrastructure and technology, he said.
The government projects economic growth to accelerate to 5.8% this year, supported by the new investments, from an estimated 5.1% in 2024, he said.
Inflation, which the central bank expects to quicken to as high as 12.3% by the end of March, will moderate to 6% by the end of 2025, Boakai said.
Boakai beat former football star George Weah to become President more than a year ago after campaigning to address high food and transportation costs and unemployment in the economy of 5.5 million people.
The faster growth could reduce the poverty rate in one of the world’s poorest countries to 27.8% this year from 31% in 2023, World Bank data shows.
Comments
Research Reports
Projects
Latest Multimedia
Showroom
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
