IPNEWS: As the government of President Joseph Boakai takes form to start working, the Liberia Chamber of Mines (LCM) has sounded the alarm regarding the lack of focus on the mining sector in Liberia. The LCM believes that significant focus on the mining sector will continue to contribute to the Liberian economy.
Celebrating its second anniversary amid great prospects, the President of the Chamber emphasizes the pivotal role the mining industry plays in Liberia’s economy, contributing significantly to job creation, foreign exchange earnings, infrastructural development, and the country’s Gross Domestic Product.
Mr. Amara Kamara stated that despite the sector’s struggles to be recognized, it has been forgotten. He emphasized the imperative for the chamber and the nation to go the extra mile and work together to ensure that the benefits of this vital sector are equitably distributed, and that its operations adhere to high ESG (Environmental, Social, and Governance) standards.
Delivering his statement at the second-anniversary celebration of the organization held at the Mamba Point Hotel in Monrovia, Mr. Kamara pointed out that the sector is by far the largest contributor to the country’s gross merchandise exports.
However, amidst these prospects, he highlighted challenges that, when addressed, would allow the sector to contribute much more to the country if political actors and industry leaders work together towards a common goal, one that will align Liberia with other regional actors in Africa.
To achieve the desired goal, Mr. Kamara vowed the LCM’s willingness and readiness to support and collaborate with the government in achieving its developmental objectives and goals.
“As we celebrate our 2nd anniversary, let us be reminded that there are lots of challenges ahead of us at The LCM and the Nation at large, regarding our Mining Sectors and its related activities. From a Global perspective, mining and its related activities did well in 2023, and it is also projected to do more in 2024,” said the LCM boss.
“We are, therefore, asking all of our members & well-wishers for their continuous support to The Liberia Chamber of Mines, which will enable us to increase and improve our participation locally and globally,” he furthered.
As part of the mechanism to address many of the hiccups in the mining sector, Mr. Kamara stressed the need for deep collaborative efforts between the government and the mining industry, coupled with seeking a sub-regional and regional approach, specifically taking cues from neighboring countries and others.
On this, he indicated that the Liberia Chamber of Mines is keen on seeing changes in Mining Laws of Liberia and regulations governing explorations in Liberia:
“Mining jurisdiction, geological overview and data, local content, security, infrastructures, and the environment are very important to mineral exploration companies and super junior companies’ establishment. If the laws are favorable, more companies will pour in.”
“The laws need to be favorable to data collections and enhancement because this helps to attract investment into the country,” he added.
In remarks, the Director of Liberian Geological Survey at the Ministry of Mines and Energy, Mr. Jefferson Chea, lauded LCM for its contributions to the mining sector.
According to Mr. Chea, LCM has, over the last two years, mobilized investment in the interest of the country and has been a force for good despite the complex challenges.
“There are lots of challenges, and we are aware. These challenges include physical and geological, lack of roads, power supply. Amid all these, the Liberia Chamber of Commerce has helped in the development drive with the creation of employees. We have a huge responsibility as a government to address the risks in this sector. We must be able to get accurate data for mineral resources and update existing mineral databases. Government must promote local participation by developing the industrial base.” By Edwin G. Genoway, Jr., edwin.genoway@frontpageafricaonline.com
