Focus on Gold in West Africa & Liberia

Liberia is an emerging gold producing country having attracted considerable exploration interest and expenditure over the last 10 years. This transformation of the country’s gold sector is evident from the graph below showing annual production (in Kgs) increasing significantly since 2015 from a little over 883 kg (128,388 oz) to 11,700 kg (376,155 oz).

Liberia did not experience the gold exploration boom during the 1980s and 1990s that took place in neighbouring West African countries mostly due to political instability and therefore has remained relatively under-explored and can be considered largely prospective for gold.
Liberia is underlain by mainly Archaean and Proterozoic rocks, two of the domains that are most productive for gold globally and geology that is similar to other West African countries such as Guinea, Ivory Coast, Mali, Senegal, Burkina Faso and Ghana, all of which have multi-million ounce gold deposits and mines.
Gold production in neighbouring Ghana in 2024 was 4.9 million ounces of Gold, with Côte d’Ivoire producing just over 1.5 million ounces in 2022. Gold production in Liberia in 2022 was 376,155 oz, highlighting the undeveloped and greatly under explored nature of this jurisdiction.
Liberia is a politically stable democracy since 2003 with four successful election cycles (2005, 2011, 2017 & 2023) with peaceful transition of power.
Liberia has an established and steady mining sector, with a growing track record of getting resources into production (ArcelorMittal, Aversoro, MNG).
Extractive industries significantly contributes to Liberia’s economy (2022).
- Extractive sector accounts for 80% of Government revenues,
- Extractive sector contributes 99% of export revenues, and 57% of GDP.