LIBERIA, WEST AFRICA
Stable
Mining Focused
Growing
Africa’s oldest modern republic
Government modelled on the US system
Politically stable democracy since 2003 after signing the Accra Peace Agreement
Three successful elections (2005,2011 and 2013) with peaceful transfer of power from one democratically elected government to another
UN peacekeeping program assisting Liberia's transformation successfully ended in 2018
Growing
Mining Focused
Growing
Over 300% GDP growth between 2003 and 2019
Currently has one of the highest levels of foreign direct investment (FDI) in West Africa relative to GDP
Over US $18 Billion FDI committed to date, mainly for mineral, oil and agricultural sectors
Part of Economic Community of West African States, a single large trade bloc created to promote economic integration
English is the official language
Mining Focused
Mining Focused
Mining Focused
Pro-mining Government, EITI-compliant since 2011
Mining Code based on Australian legislation
Revival of the mining industry an explicit government objective as a vital tool for continued economic growth and FDI
Friendly mining regulations have enabled in increase in gold production and exports
Minimal 3% royalty rate and a 25% basic rate of tax on earnings
100% repatriation of profits and no currency exchange restrictions
In January 2021, ArcelorMittal announced an additional US$800M investment into its mining operations in Liberia
