\n Speaking during his State of the Nation address late Monday, Boakai said the planned inflows are expected to support economic growth, infrastructure development and job creation.\n <\/p>\n
Mining deals to anchor investment inflows<\/p>\n
\n The largest share of the expected investment, about $4 billion, is tied to mining and infrastructure agreements with US-based Ivanhoe Atlantic Inc. and Luxembourg-headquartered ArcelorMittal SA.\n <\/p>\n
\n ArcelorMittal, Liberia\u2019s biggest mining investor, operates an iron ore mine in Yekepa in the country\u2019s north. Under its amended Mineral Development Agreement, the company plans to increase annual iron ore exports from about 8 million metric tons to nearly 20 million tons. The expansion is backed by a new concentrator at the Yekepa concession, alongside upgrades to rail and port infrastructure.\n <\/p>\n
\n Ivanhoe Atlantic has also signed a railway access agreement allowing it to transport iron ore from neighboring Guinea through Liberian infrastructure, reinforcing Liberia\u2019s role as a regional transit hub for mineral exports.\n <\/p>\n
Oil exploration seen drawing $800 million<\/p>\n
\n In the energy sector, Boakai said Liberia has signed eight new petroleum agreements; four with France\u2019s TotalEnergies SE and four with Nigeria\u2019s Oranto Petroleum, marking a renewed push to develop the country\u2019s offshore hydrocarbon resources.\n <\/p>\n
\n TotalEnergies has secured four offshore exploration permits covering Blocks LB-6, LB-11, LB-17 and LB-29 in Liberia\u2019s offshore basins.\n <\/p>\n
\n Meanwhile, the Oranto agreements cover offshore blocks LB-15, LB-16, LB-22 and LB-24 in the Liberian Basin and include a $12 million signature bonus, with planned investments of up to $200 million per block.\n <\/p>\n
\n In addition, a major US oil company, though not yet a signed investor, has applied to pre-qualify for offshore blocks 15, 16, 22 and 24, indicating potential participation in future hydrocarbon licensing rounds.\n <\/p>\n
<\/p>\n
Other major investors already active<\/p>\n
\n Beyond the new agreements, several international companies already operate in Liberia\u2019s resource and agribusiness sectors.\n <\/p>\n
\n China Union runs the Bong iron ore mines, while Bea Mountain Mining, owned by Avesoro Holdings, operates one of the country\u2019s largest gold projects.\n <\/p>\n
\n Pasofino Gold, a Canadian junior miner, is advancing the Dugbe gold project in southern Liberia and is seeking financing to complete feasibility studies, an early sign of renewed international interest in the country\u2019s gold sector\n <\/p>\n
\n Firestone Liberia, a subsidiary of Bridgestone Corp., remains one of the country\u2019s longest-standing foreign investors through its rubber plantations.\n <\/p>\n
Government vows concession reforms<\/p>\n
\n \u201cThe government has strategically leveraged opportunities to attract credible investments and responsibly exploit natural resources for the benefit of Liberians,\u201d Boakai said.\n <\/p>\n
\n He added that his administration is reviewing concession frameworks to address historical imbalances and ensure that natural resource development delivers lasting benefits for citizens.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Speaking during his State of the Nation address late Monday, Boakai said the planned inflows are expected to…\n","protected":false},"author":2,"featured_media":446283,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":{"0":"post-446282","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/446282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=446282"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/446282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/446283"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=446282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=446282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=446282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}