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Hon. A Kpandel Fayia Deputy Minister for Planning and Research MINISTRY OF LANDS, MINES & ENERGY REPUBLIC OF LIBERIA INVESTMENT AND MINING OPPORTUNITIES.

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Presentation on theme: "Hon. A Kpandel Fayia Deputy Minister for Planning and Research MINISTRY OF LANDS, MINES & ENERGY REPUBLIC OF LIBERIA INVESTMENT AND MINING OPPORTUNITIES."— Presentation transcript:

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

3 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 2 Introduction Introduction Small country on West African coast (111,000 km 2 ) 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

4 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 3 Geography Introduction Borders Republics of Sierra Leone, Guinea and Cote dIvoire Tropical, humid climate, rainy season from July to September Annual rainfall between 200-380cm Dense secondary forest, residual laterite and detrital material Numerous streams and rivers Coastal plains to plateau, low mountains in NE to 1,380m

5 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 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

6 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 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

7 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 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

8 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 7 Liberias 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 MINERAL RESOURCES IRON ORE GOLD DIAMOND OTHER MINERALS

9 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 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

10 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 9 DEPOSIT LOCATIONCOMPANYRESERVE (Million) Tons ORE GRADE % Fe TYPE OF ORECURRENT STATUS Mt. Nimba 342Km ENE of Monrovia LAMCO LIMINCO (1989-PRESENT) 41765-69 59.1 52.2 Nimba – Hematite Western Area – Magnetite MDA to MITTAL STEEL Bomi Hills 80Km NW of Monrovia Liberian Mining CO. (LMC) 4568MagnetiteExploration Permit to BHP Mano River Mano River Hills,Near Sierra Leone Border National Iron Ore Co. (NICO) 13651.4LimoniticOPEN TO NEGOTIATION Bong Mine 80Km NE of Monrovia DELIMCO Bong Mining Co (BMC) 29035-45MagnetiteOPEN TO NEGOTIATION Putu Range Grand Gedeh County,ESE of Monrovia BMC45545ItabiriteExploration Permit to MARIO Bea Mt Grand Cape Mount County LMC38235-45Magnetite, Hematite,Goethi te OPEN TO NEGOTIATION Wologizi Range Lofa CountyLISCO100035-40HematiteExploration Permit to BHP Goe Fantro 60Km NE Of Monrovia LAMCO (LIMINCO)NA35-40HematiteExploration permit to BHP Estimated Reserves and Current Status Mining Sector Overview, prepared for INDABA 2005 9

11 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 10 Iron Ore Exports 1951-1983 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

12 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 11 Current Iron Ore Exploration permit

13 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 12 Iron Ore Deposit C 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 Courtesy of E.O.Sherman, 2004

14 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 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

15 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 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.

16 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 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

17 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 16 Other Minerals 1.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. 2.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. 3.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. 4.Phosphate: Bambuta phosphate deposit is located in the Clay district in Western Liberia, it has been proven to have high grade phosphate mineralization 5.Manganese: The Mount Dorthrow Manganese deposit is located in Grand Gedeh county, Eastern Liberia. Commercial grade has not yet been established. 6.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. 7.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.

18 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 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

19 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 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 dIvoire. Countries and organizations experienced in alluvial diamond production will be invited to the Monrovia Conference. A

20 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 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 Summary

21 Lone Star of Africa Investment and Mining Opportunities INDABA 2006 Liberia 20


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