Liberia's Newly Elected President Vows to Examine Mining Concessions, Media Says
On November 17, Liberia's National Elections Commission announced that opposition candidate Joseph Boakai had won 50.9% of the vote in Liberia's November 14 presidential runoff election, defeating former leader George Weah, whose result was 49.1%.
Mining concessions in Liberia will be reviewed to ensure they are beneficial for the country, media reported, citing the recently elected Liberian President Joseph Boakai.
"To be frank with you, the mining sector has been one of the problems in this country. I have seen our resources exploited and the life of the people remains the worse," Boakai was quoted by the media as saying.
Boakai also highlighted that, although the country has vast mineral reserves, including diamonds, gold, iron ore and others, its citizens had not taken advantage of the mining sector.
Among the companies operating in Liberia's mining sector are the ArcelorMittal corporation, registered in Luxembourg, the Chinese enterprise Bao Chico Resources as well as Canada-based company Avesoro Resources and its subsidiary Bea Mountain Mining.
According to World Bank, in 2022, Liberia's economy rose 4.8% due to the gold production and a relatively good rice harvest. At the same time, about 80% of the country's population are affected by food insecurity.