MONROVIA, Liberia – Liberia may soon establish a National Minerals Company (NMC) to manage the country’s commercial interests in mining concessions, a major policy shift that both current and former leaders of the Ministry of Mines and Energy say is necessary to ensure the country benefits more directly from its vast mineral resources.
The proposal gained renewed attention Tuesday when Minister of Mines and Energy R. Metonokay Tingban used the Ministry of Information’s regular press briefing to outline his ministry’s reform agenda, including plans to create a national entity that would manage Liberia’s equity shares in mining operations—similar to the role played by the National Oil Company of Liberia (NOCAL) in the petroleum sector.
“We have formally proposed to His Excellency President Joseph Nyuma Boakai the establishment of a National Mining Company,” Tingban told reporters. “Once established through legislation, the company will manage Liberia’s equity shares in mineral production, coordinate geological research, and participate strategically in mining operations.”
According to Tingban, the President is currently reviewing the proposal.
Former Minister Reveals Earlier Work on Same Initiative
Shortly after Tingban’s presentation, former Mines and Energy Minister Wilmot Paye released documents indicating that his administration had already begun groundwork for establishing such a company.
One document—an October 27, 2025 communication addressed to President Joseph Nyuma Boakai—outlined the rationale for creating a National Minerals Company and submitted a draft executive order for its establishment.
In the letter, Paye argued that Liberia currently lacks a national mechanism to manage the state’s commercial interests in mining concessions.
“We have concluded that there is no national mechanism for the administration, management and utilization of the State’s commercial interests and equity shares in mineral concessions,” the document states.
He warned that under the existing system, government largely relies on mining companies’ own declarations regarding profits and dividends.
As a result, Paye said, Liberia risks receiving far less financial benefit than it should from its natural resources.
Draft Executive Order Defines Structure
The draft executive order accompanying Paye’s proposal outlines the framework for establishing the National Minerals Company.
Under the proposal, the NMC would:
- Manage exploration and mining activities on behalf of the government
- Acquire or hold shares in mining companies and projects
- Invest in exploration, prospecting, and production ventures
- Oversee Liberia’s commercial interests in Mineral Development Agreements
The document notes that while the Ministry of Mines and Energy is responsible for regulation and policymaking, it does not currently manage the state’s equity interests in mining ventures.
The proposed company would therefore fill that institutional gap.
The draft structure calls for a Board of Directors of up to seven members, a President/Chief Executive Officer, and several vice presidents responsible for administration, international affairs, marketing, technical services, and operations.
Funding for the company would come from government appropriations, revenues from its operations, and a portion of the Mineral Development Fund.
Push for Greater National Benefit
Both the current and former ministers framed the proposal as part of broader efforts to ensure Liberia gains greater value from its mineral wealth.
During his briefing, Tingban acknowledged that the country’s extractive sector has historically focused on exporting raw minerals with limited domestic value addition.
“The time has come for Liberia to transition from simply exporting raw minerals to ensuring value addition within our borders,” he said.
He added that a national mining company would allow the government to participate directly in the sector’s commercial activities rather than relying solely on royalties and taxes.
Paye made a similar argument in his earlier proposal, noting that Liberia’s reliance on royalties has limited the country’s economic potential while mining companies reap significant profits.
Part of Wider Sector Reform
The proposal for a National Minerals Company comes amid broader reforms within Liberia’s mining sector.
Tingban told journalists that the ministry is also pursuing several initiatives, including:
- Transitioning the mineral licensing system to a digital platform
- Strengthening enforcement against illegal mining and mineral smuggling
- Launching whistleblower mechanisms to detect illicit activities
- Decentralizing mining services across the country’s counties
- Promoting value addition, including discussions to establish a gold refinery in Liberia
According to the minister, the mining sector generated approximately US$182 million in revenue in 2025, exceeding the government’s projection of US$144 million.
He described the sector as one of Liberia’s most important economic drivers and said upcoming investments and exploration activities could further expand its contribution to national development.
A Policy Moment for Liberia’s Extractive Sector
If implemented, the National Minerals Company would mark a significant structural change in Liberia’s management of its mineral resources.
Observers say the initiative could potentially mirror state participation models used in several African countries, where governments hold direct commercial stakes in mining operations.
Whether through executive action or legislation, the proposal now awaits final policy direction from the Boakai administration.
For now, the documents released by both the current and former ministers suggest that momentum toward establishing the company has been building across successive leaderships within the Ministry of Mines and Energy.
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