12 November 2012

Liberia: Mineral Laws Reform Consultation Commences Today

The country's first capital city, Bentol, is today playing host to a horde of stakeholders and participants meeting to brainstorm on how benefits from the country's mineral resources can be captured and filtered to the critical needs of ordinary Liberians.

Lands, Mines and Energy Minister Patrick Sendolo has announced Government's readiness to work with national and international experts and the general Liberian populace to update the country's laws governing its mineral sector.

The inadequacy of returns from the resources, coupled with multiple leakages and loopholes in the mineral sector, is blamed on decadent laws and regulations.

Speaking to a group of stakeholders at the Monrovia City Hall last weekend, Minister Sendolo said existent mining and mineral laws are inapplicable to current concessions and fall of short of delivering the desired aspiration and good for the people.

He said reforming the mineral law is germane to national development and transformation undertaken by President Sirleaf.

"The Mineral and Mining Law is outdated and recent developments in the global and domestic mineral industry, including how mineral rights are exchanged and traded, pose new challenges in respect of achieving our objective of maximizing the benefits that flow to Liberians from the exploitation of our resources," he said.

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