As Saudi Arabia, W/Bank Signal Major Boost For Liberia’s Mining Sector
Monrovia, Liberia – The World Bank and Saudi Arabia have indicated that they are willing to work with the government of Liberia to develop the nation’s mineral resources, including the construction of the country’s first mineral refinery. The newly appointed Minister of Mines and Energy said on Monday that the mining and energy sector in Liberia may be about to undergo a significant transformation.
Speaking on Tuesday, January 20, 2026, at the government officials’ commissioning ceremony at the Executive Mansion, Minister R. Matenokay Tingban of the Ministry of Mines and Energy revealed that the Saudi government, via the Minister of Industry and Mines, has pledged to collaborate with Liberia to advance mineral development beyond the export of raw materials.
He said that value addition, job development, and higher national revenue will be given top priority in the proposed cooperation. According to the minister, Saudi Arabia is willing to assist Liberia in building a refinery to process gold and other minerals locally. This step is anticipated to boost government revenue, provide jobs, and hasten the development of infrastructure.
“This will end the long-standing practice of exporting raw materials without value addition. When minerals are refined here, jobs are created, revenue increases and the impact will be felt directly in the lives of ordinary Liberians,” he narrated.
The Minister of Mines and Energy praised President Yusuf Yuma Mbwaka for his “nationalistic and patriotic leadership,” pointing out that Liberia’s recent adoption of a billion-dollar national budget was a significant development since the nation’s inception in 1847. Additionally, Tingban disclosed that the World Bank has pledged to promote changes in Liberia’s mining industry with the goal of raising living standards and economic growth in partnership with Saudi Arabia and African financial institutions.
He reported that foreign investors are anticipated to travel to Liberia in the near future to look into prospects in the mining industry, indicating a resurgence of faith in the nation’s economic trajectory under the current government.
“As a nation, we are no longer satisfied with stagnation. Liberia is ready to move, and with strong leadership and committed partners, we are firmly on the path to rescue and renewal,” he said.
The minister reiterated his ministry’s dedication to prudent management of Liberia’s mineral resources and promised that the advantages of expansion will result in noticeable advancements for the nation’s residents.
Reported by: Prince Saah
