Liberia is set to accelerate the revision of its Mining Code in 2026, aiming to publish new regulations within three months, Mines Minister Matenokay Tingban said on Monday, February 16. The reforms will adjust licensing rules and introduce a framework allowing a national mining company to take equity stakes in projects, potentially increasing state participation from 10–15% in the short term to 25% over time.
The update builds on the current 2000 mining law, which already permits up to 15% state ownership. Tingban confirmed that existing royalty rates on iron ore and gold — Liberia’s main mineral exports — will remain unchanged. He emphasized a strategic shift from a royalty-only approach to one that includes equity participation, aiming to maximize returns, fund infrastructure, and create jobs.
The accelerated revision follows a five-year plan unveiled in December 2025 targeting annual natural resource revenues above $3 billion, including from minerals and hydrocarbons. The plan also emphasizes strengthening the regulatory framework by 2029.
Liberia’s mining sector is a major contributor to the national economy, with companies such as ArcelorMittal and Avesoro Resources driving production. According to the Extractive Industries Transparency Initiative, mining exports accounted for 85% of the $1.35 billion generated by the extractive sector in 2023.
