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  1. LIBERIA INVESTMENT AND MINING OPPORTUNITIES Lone Star of Africa Hon. A Kpandel Fayia Deputy Minister for Planning and Research MINISTRY OF LANDS, MINES & ENERGY REPUBLIC OF LIBERIA INDABA 2006

  2. Introduction Introduction • Small country on West African coast (111,000 km2) • Independent republic since 1847 • Rich in natural resources; Iron Ore, Diamonds, Gold, Bauxite • Highly prospective and under explored • Investment highly encouraged • A Democratically elected Government of Liberia now in place

  3. Introduction Geography Borders Republics of Sierra Leone, Guinea and Cote d’Ivoire Tropical, humid climate, rainy season from July to September Annual rainfall between 200-380cm Dense secondary forest, residual laterite and detrital material Numerous streams and rivers Coastal plains to plateau, low mountains in NE to 1,380m

  4. Geological Overview • Crystalline rocks of Precambrian age • Western half of country typically of Archean age • Eastern half, lenses of Proterozoic greenstone belts occur surrounded by rocks of probable Archean age • Rocks of Pan African age extend northwesterly along most of the Liberian coastline from the Cestos shear zone

  5. Investment Opportunities • Security is assured with the presence of multi-national UN peace keepers • Numerous mineral occurrences being mined by artisans • Investment and mining laws are globally competitive - 100% repatriation of profits - No currency exchange restrictions • New mines expected in gold, diamonds and Iron Ore

  6. Mineral Occurrences • Minerals of economic significance are widespread • Diamond trends in the NE and W of the country worth investing • Several kimberlites discovered in the western within the diamond trend • Widespread occurrences of gold suggests high prospectivity • Most ridges are capped with iron formation (BIFs) • More are yet to be found

  7. Liberia’s Mineral Potential • 30% contribution to GDP • 70s-80s worlds 5th exporter of iron ore • Challenge of restoring mining industry largely inactive since civil war in 1989 • Previous and current exploration have revealed the vast mineral potential

  8. Iron Ore • Widespread occurrences • 1951-1985 >613 Mt of ore mined • Estimated >3,443 Mt reserves • Liberia was #1 producer in Africa Courtesy of E.O.Sherman, 2004 Courtesy of E.O.Sherman, 2004

  9. DEPOSIT LOCATION COMPANY RESERVE (Million) Tons ORE GRADE % Fe TYPE OF ORE CURRENT STATUS Mt. Nimba 342Km ENE of Monrovia LAMCO LIMINCO (1989-PRESENT) 417 65-69 59.1 52.2 Nimba –Hematite Western Area –Magnetite MDA to MITTAL STEEL Bomi Hills 80Km NW of Monrovia Liberian Mining CO. (LMC) 45 68 Magnetite Exploration Permit to BHP Mano River Mano River Hills,Near Sierra Leone Border National Iron Ore Co. (NICO) 136 51.4 Limonitic OPEN TO NEGOTIATION Bong Mine 80Km NE of Monrovia DELIMCO Bong Mining Co (BMC) 290 35-45 Magnetite OPEN TO NEGOTIATION Putu Range Grand Gedeh County,ESE of Monrovia BMC 455 45 Itabirite Exploration Permit to MARIO Bea Mt Grand Cape Mount County LMC 382 35-45 Magnetite, Hematite,Goethite OPEN TO NEGOTIATION Wologizi Range Lofa County LISCO 1000 35-40 Hematite Exploration Permit to BHP Goe Fantro 60Km NE Of Monrovia LAMCO (LIMINCO) NA 35-40 Hematite Exploration permit to BHP Estimated Reserves and Current Status 9 Mining Sector Overview, prepared for INDABA 2005

  10. Iron Ore Exports 1951-1983 • 426 Mt of iron ore were exported over this period • Approximately 0.17 Mt of ore were exported in 1951 by LMC • Highest export of 14.7 Mt in 1972 by LAMCO • Total of 29 Mt exported in 1972

  11. Current Iron Ore Exploration permit

  12. Iron Ore Deposit • Mining stopped 15 years ago due to civil conflict • Mittal Steel to rehabilitate the mine and the railway • Major Iron ore mine on the horizon • Bong Mines, and former NIOC mines are available for investment C Courtesy of E.O.Sherman, 2004 Courtesy of E.O.Sherman, 2004

  13. Diamond Potential • Alluvial diamonds mined widely in Northern, Central and Western Liberia • Highly prospective Archaean craton • Kimberlite dykes and pipes suggest primary source • Continuous discoveries of diamondiferous kimberlites by Mano River Resources • Recent discovery of a Kimberlite by DFI • Recent discovery of alluvial diamonds by villagers in the South east • Potential areas are still available for further investment

  14. Gold Potential • Overwhelming prospectivity for major gold deposits • Strong E-W and WNW shear zones associated with greenstone • Widespread occurrence of gold workings in all provinces • “Cestos Shear zone” part of the west African gold fields which hosts Sangura mine (Guinea), Ity mine (Ivory Coast), Syama mine (Mali), etc.

  15. Gold Projects • LARJOR one of the largest potential projects being looked at by Mano • Weajue Gold project, an advanced project also being evaluated by Mano • Kokoya Gold Project in Central Liberia – AmLib United Minerals • Liberian Gold Corporation projects in the Birrimian in the SE of the country • Workings in most areas extend over 1km strike • Sheared mafic to ultramafics • Highly prospective areas are still available for investment

  16. Other Minerals • Heavy mineral beach sand deposits containing ilmenite, rutile, zircon and thorium are present in coastal zones along a 300mile NW-SW coastal stretch as raised beaches up to 20ft high. • Bauxite: bauxite occurs in the North and Southeastern parts of the Country. Detailed exploration work needs to be carried out to ascertain the total reserves. • Barite: preliminary reserves estimate of 19 veins by Dresser Minerals in 1970 gives a total of 553,150 tons of barite to a depth of 500ft with in the Gibi. Further exploration could expand this. • Phosphate: Bambuta phosphate deposit is located in the Clay district in Western Liberia, it has been proven to have high grade phosphate mineralization • Manganese: The Mount Dorthrow Manganese deposit is located in Grand Gedeh county, Eastern Liberia. Commercial grade has not yet been established. • Kyanite: prospecting and exploration activities have revealed reserves up to 10 million tons of Kyanite bearing rock containing approximately 2.5 Mt in Mt. Montro in Grand Bassa county. • Hydrocarbon potential: Information gathered from regional geological and geophysical data revealed that the continental shelf of Liberia can be rated as having fair to good hydrocarbon potential. According to latest NPV studies, Liberia's best potential for petroleum accumulation lies within deep waters.

  17. LIBERIA AND DIAMOND SANCTIONS • UN imposed sanctions on Liberia in 2001. • Government is fulfilling requirements to have the embargo lifted. • Compliance with the Kimberley Process Certificate Scheme is in progress. • Mining Cooperatives are being organized for effective and efficient monitoring of diamond production, sales and export. A

  18. LIBERIA AND DIAMOND SANCTIONS • The concept of “Diamonds for Development (D4D)” will be introduced so that a portion of proceeds from diamond production will be returned to community of origin of diamonds for development purposes. The UNDP and Government of Liberia are undertaking and developing the D4D program to assist the artisanal miners in Liberia. • A Regional Mining Conference is being planned to be held in Monrovia in April 2006 to foster regional collaboration and cooperation in the Mano River Countries plus La Cote d’Ivoire. • Countries and organizations experienced in alluvial diamond production will be invited to the Monrovia Conference. A

  19. Summary Summary • World Class iron ore deposits • Greenstone belts hosting significant gold deposits • New diamondiferous kimberlite pipes being discovered • Substantial international support and investor confidence • Exceptionally prospective • A country encouraging investment

  20. T H A N K Y O U A L L !