MONROVIA, LIBERIA-Mines and Energy Minister, Matenokay Tingban, has stressed the importance of international attention and investment interest.
It followed his participation in the Future Minerals Forum (FMF) held in the Kingdom of Saudi Arabia.
At the Forum, Minister Tingban said,” Liberia received special recognition from Saudi Arabia’s Minister of Industry and Mines for its untapped mineral potential and strategic importance within Africa’s mining sector”.
According to the Minister, Saudi Arabia has expressed readiness to invest in Liberia, with a particular focus on value addition, local processing, and domestic production of minerals rather than the export of raw materials.
He said,” The engagement aligns with the Liberian government’s broader development agenda, which prioritizes industrialization, job creation, and sustainable management of natural resources”.
Minister Tingban added that Liberia’s participation in the forum also reinforced the country’s commitment to international mining and investment standards.
At the same time, the Minister says Liberia is strengthening its energy and industrial base through strategic partnerships with Saudi Arabia and Israel, as part of efforts to support value addition and economic growth.
Minister Matenokay Tingban disclosed that a Saudi gold refinery company has shown interest in establishing a gold refinery in Liberia, a move expected to boost local processing and reduce the export of unrefined gold.
Minister Tingban also pointed to growing investor interest in mineral exploration across two promising geological terrains in the country, noting that the government is working to build investor confidence and ensure long-term sustainability.
On the energy front, the Minister confirmed ongoing engagement with Israel regarding the proposed development of a 100-megawatt solar power plant in Botota, Bong County.
He said that although a recent trip to Israel was postponed due to national commitments, his discussions remain active.
Meanwhile, Minister Tingban called on the media and citizens to adopt a nationalistic approach by supporting development efforts and reporting responsibly on Liberia’s progress.
Nevertheless, Minister Tingban says the government is implementing reforms to increase Liberia’s financial returns and control over its mineral resources through equity participation and stronger governance measures.
Minister Tingban disclosed that, while the Mineral Sector currently contributes about one billion USD to the national budget, Liberia’s mineral wealth has the potential to generate more than five billion annually, if properly developed.
According to him, plans are underway to establish a National Mining Company to hold equity stakes in mining operations, enabling the country to benefit directly from its resources and reduce excessive foreign exploitation.
Minister Tingban highlighted the launch of the online mining license application system, which automatically processes and issues licenses to eliminate discretion and corruption.
He said the system ensures fairness, accessibility, and public confidence in the mining sector, adding that good governance remains central to Liberia’s engagements with international partners.