History of gold production in the region

• 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 2007 from a little over 300 kg (10,500 oz) to 7,096 kg (250,300 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 neighboring Ghana in 2019 was 5 million ounces of Gold, with Côte d’Ivoire producing just over a million ounces in the same year. Gold production in Liberia in 2018 was 250,000 oz, highlighting the undeveloped and greatly under explored nature of this jurisdiction.