1. INVESTMENT AND MINING OPPORTUNITIES
LIBERIA
Lone Star of Africa
INVESTMENT AND MINING OPPORTUNITIES
Hon. A Kpandel Fayia
Deputy Minister for Planning and Research
MINISTRY OF LANDS, MINES & ENERGY
REPUBLIC OF LIBERIA
INDABA 2006

2. Introduction Small country on West African coast (111,000 km2)
Independent republic since 1847
Rich in natural resources; Iron Ore, Diamonds, Gold, Bauxite
Highly prospective and under explored
Investment highly encouraged
A Democratically elected Government of Liberia now in place

3. Geography Introduction
Borders Republics of Sierra Leone, Guinea and Cote d’Ivoire
Tropical, humid climate, rainy season from July to September
Annual rainfall between cm
Dense secondary forest, residual laterite and detrital material
Numerous streams and rivers
Coastal plains to plateau, low mountains in NE to 1,380m

4. Geological Overview Crystalline rocks of Precambrian age
Western half of country typically of Archean age
Eastern half, lenses of Proterozoic greenstone belts occur surrounded by rocks of probable Archean age
Rocks of Pan African age extend northwesterly along most of the Liberian coastline from the Cestos shear zone

5. Investment Opportunities
Security is assured with the presence of multi-national UN peace keepers
Numerous mineral occurrences being mined by artisans
Investment and mining laws are globally competitive
- 100% repatriation of profits
- No currency exchange restrictions
New mines expected in gold, diamonds and Iron Ore

6. Mineral Occurrences Minerals of economic significance are widespread
Diamond trends in the NE and W of the country worth investing
Several kimberlites discovered in the western within the diamond trend
Widespread occurrences of gold suggests high prospectivity
Most ridges are capped with iron formation (BIFs)
More are yet to be found

7. Liberia’s Mineral Potential
30% contribution to GDP
70s-80s worlds 5th exporter of iron ore
Challenge of restoring mining industry largely inactive since civil war in 1989
Previous and current exploration have revealed the vast mineral potential

8. Iron Ore Widespread occurrences 1951-1985 >613 Mt of ore mined
Estimated >3,443 Mt reserves
Liberia was #1 producer in Africa
Courtesy of E.O.Sherman, 2004
Courtesy of E.O.Sherman, 2004

9. Estimated Reserves and Current Status
DEPOSIT
LOCATION
COMPANY
RESERVE
(Million) Tons
ORE GRADE
% Fe
TYPE OF ORE
CURRENT STATUS
Mt. Nimba
342Km ENE of Monrovia
LAMCO
LIMINCO
(1989-PRESENT)
417
65-69
59.1
52.2
Nimba –Hematite
Western Area –Magnetite
MDA to MITTAL STEEL
Bomi Hills
80Km NW of Monrovia
Liberian Mining CO. (LMC) 45 68
Magnetite
Exploration Permit to BHP
Mano River
Mano River Hills,Near Sierra Leone Border
National Iron Ore Co.
(NICO)
136
51.4
Limonitic
OPEN TO NEGOTIATION
Bong Mine
80Km NE of Monrovia
DELIMCO
Bong Mining Co (BMC)
290
35-45
Putu Range
Grand Gedeh County,ESE of Monrovia
BMC
455
Itabirite
Exploration Permit to MARIO
Bea Mt
Grand Cape Mount County
LMC
382
Magnetite, Hematite,Goethite
Wologizi
Range
Lofa County
LISCO
1000
35-40
Hematite
Goe Fantro
60Km NE Of Monrovia
LAMCO (LIMINCO) NA
Exploration permit to BHP
Mining Sector Overview, prepared for INDABA 2005 9

10. Iron Ore Exports
426 Mt of iron ore were exported over this period
Approximately 0.17 Mt of ore were exported in 1951 by LMC
Highest export of 14.7 Mt in 1972 by LAMCO
Total of 29 Mt exported in 1972

11. Current Iron Ore Exploration permit

12. Mining stopped 15 years ago due to civil conflict
Iron Ore Deposit
Mining stopped 15 years ago due to civil conflict
Mittal Steel to rehabilitate the mine and the railway
Major Iron ore mine on the horizon
Bong Mines, and former NIOC mines are available for investment C
Courtesy of E.O.Sherman, 2004
Courtesy of E.O.Sherman, 2004

13. Diamond Potential
Alluvial diamonds mined widely in Northern, Central and Western Liberia
Highly prospective Archaean craton
Kimberlite dykes and pipes suggest primary source
Continuous discoveries of diamondiferous kimberlites by Mano River Resources
Recent discovery of a Kimberlite by DFI
Recent discovery of alluvial diamonds by villagers in the South east
Potential areas are still available for further investment

14. Gold Potential Overwhelming prospectivity for major gold deposits
Strong E-W and WNW shear zones associated with greenstone
Widespread occurrence of gold workings in all provinces
“Cestos Shear zone” part of the west African gold fields which hosts Sangura mine (Guinea), Ity mine (Ivory Coast), Syama mine (Mali), etc.

15. Gold Projects
LARJOR one of the largest potential projects being looked at by Mano
Weajue Gold project, an advanced project also being evaluated by Mano
Kokoya Gold Project in Central Liberia – AmLib United Minerals
Liberian Gold Corporation projects in the Birrimian in the SE of the country
Workings in most areas extend over 1km strike
Sheared mafic to ultramafics
Highly prospective areas are still available for investment

16. Other Minerals
Heavy mineral beach sand deposits containing ilmenite, rutile, zircon and thorium are present in coastal zones along a 300mile NW-SW coastal stretch as raised beaches up to 20ft high.
Bauxite: bauxite occurs in the North and Southeastern parts of the Country. Detailed exploration work needs to be carried out to ascertain the total reserves.
Barite: preliminary reserves estimate of 19 veins by Dresser Minerals in 1970 gives a total of 553,150 tons of barite to a depth of 500ft with in the Gibi. Further exploration could expand this.
Phosphate: Bambuta phosphate deposit is located in the Clay district in Western Liberia, it has been proven to have high grade phosphate mineralization
Manganese: The Mount Dorthrow Manganese deposit is located in Grand Gedeh county, Eastern Liberia. Commercial grade has not yet been established.
Kyanite: prospecting and exploration activities have revealed reserves up to 10 million tons of Kyanite bearing rock containing approximately 2.5 Mt in Mt. Montro in Grand Bassa county.
Hydrocarbon potential: Information gathered from regional geological and geophysical data revealed that the continental shelf of Liberia can be rated as having fair to good hydrocarbon potential. According to latest NPV studies, Liberia's best potential for petroleum accumulation lies within deep waters.

17. LIBERIA AND DIAMOND SANCTIONS
UN imposed sanctions on Liberia in 2001.
Government is fulfilling requirements to have the embargo lifted.
Compliance with the Kimberley Process Certificate Scheme is in progress.
Mining Cooperatives are being organized for effective and efficient monitoring of diamond production, sales and export. A

18. LIBERIA AND DIAMOND SANCTIONS
The concept of “Diamonds for Development (D4D)” will be introduced so that a portion of proceeds from diamond production will be returned to community of origin of diamonds for development purposes.
The UNDP and Government of Liberia are undertaking and developing the D4D program to assist the artisanal miners in Liberia.
A Regional Mining Conference is being planned to be held in Monrovia in April 2006 to foster regional collaboration and cooperation in the Mano River Countries plus La Cote d’Ivoire.
Countries and organizations experienced in alluvial diamond production will be invited to the Monrovia Conference. A

19. Summary World Class iron ore deposits
Greenstone belts hosting significant gold deposits
New diamondiferous kimberlite pipes being discovered
Substantial international support and investor confidence
Exceptionally prospective
A country encouraging investment

20. T H A N K Y O U A L L !