Philadelphia — President Joseph Nyuma Boakai Sr. has announced that his administration will undertake a comprehensive review of all mining concessions in Liberia, with the goal of ensuring that the country derives greater benefits from its vast mineral resources.
Speaking at a town hall engagement with diaspora Liberians in Pennsylvania, United States of America on Sunday, September 28, 2025, President Boakai said the review process will be guided by both national interests and international legal obligations. His comment was in response to a question posed to him by an audience.
"We're going to review all of our mining concessions, and we already have a timeline to do that. Mining is quite an expensive venture, especially for certain resources like iron ore. But there are areas, like gold mining, that Liberians themselves could take on," the Liberian leader disclosed.
President Boakai lamented the millions of dollars the country loses annually through "bad mining companies" and concession agreements that do not fully serve Liberia's interest.
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He stressed, however, that the government cannot arbitrarily cancel existing licenses due to binding international agreements.
"We cannot just come and cancel all the licenses, but we have an opportunity to review them, to make them suit our own conditions, and make sure that we are internationally compliant while ensuring that Liberians benefit."
The President pointed to what he described as a troubling trend among concessionaires, where companies report losses locally while recording profits abroad.
"Most of them declare losses in Liberia, but they make profits in their external holdings. We know that. Once we can address this, the opportunities will open for Liberians to participate," he said.
The Liberian chief executive assured the public that while the government remains committed to respecting existing concession rights, his administration's review process will prioritize transparency, fairness, and Liberia's economic growth.
The mining sector, which has been long regarded as one of the cornerstones of Liberia's economy, has been engulfed by sharp criticism over alleged unfair deals, poor community benefits, and limited participation by Liberians.
Hinged on his inaugural statement 'No business as usual,' the President's latest assertion stands in affirmation of that declaration, perhaps, with the intent of resetting the sector in line with its "ARREST Agenda," the government's development plan.
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At the same time, President Boakai has called on Liberians at home and abroad to take ownership of their country's development, stressing that true nation-building requires sacrifice, reconciliation, and a collective sense of responsibility.
He reflected on Liberia's painful civil war past, which claimed an estimated 250,000 lives, while honoring nations that contributed peacekeepers to end the conflict.
The President emphasized that Liberia must not forget its history but instead use it as a stepping stone to rebuild.
"We must always remember those we lost, those who fought for peace, and the friends who stood with us," President Boakai said. But remembering is not the end. We must take responsibility for our country. This is why we are establishing a Diaspora Commission, to harness skills, talents, and investments from Liberians abroad."
He further urged Liberians in the diaspora to view their homeland as a place of opportunity rather than a burden.
"You can't claim to be a Liberian when you don't take responsibility for its growth. This is your country. We must rebuild it together," he stressed, pointing to initiatives to rehabilitate abandoned properties, expand tourism, and attract investment.
The Liberian leader then re-emphasized his key message of unity by reminding Liberians at home and abroad that nation-building is not the responsibility of the government alone, but of all citizens.
