By Archie Boan and G. Watson Richards
The Multi-stakeholder Steering Group (MSG) of the Liberia Extractive Industries Transparency Initiative (LEITI) has officially launched Liberia’s 16th EITI Report, the LEITI Data Portal, and an updated Simplified Contract Matrix.
The launch fulfills key requirements of the LEITI Act and aligns with the 2023 EITI Standard.
The report, prepared by BDO UK in collaboration with HLB Liberia, reconciles data provided by companies and government entities across the extractive sector.
Additional technical inputs, including the updated Simplified Contract Matrix and a Compliance Investigation Report-were produced by the law firm Millennium Partner.
GIZ Liberia also supported the development of the new LEITI Data Portal, executed by Master Stroke.
Revenue to Government Hits USD 152.46 Million
According to the 16th EITI Report, the Government of Liberia received USD 152,460,000 in total revenue from the extractive industries between January 1 and December 31, 2023.
The breakdown is as follows:
Mining: USD 121,490,000
Agriculture: USD 23,970,000
Forestry: USD 6,450,000
Oil & Gas: USD 550,000
The mining sector remained the dominant revenue source, contributing nearly 80 percent of total receipts.
Exports Surpass USD 1.35 Billion
The report further reveals that Liberia exported an estimated USD 1,352,740,000 worth of extractive commodities in 2023.
Export values by commodity include:
Gold: USD 660,340,000
Iron Ore: USD 482,700,000
Diamonds: USD 17,910,000
Rubber: USD 103,000,000
Crude Palm Oil: USD 82,790,000
Company-specific export contributions were also highlighted:
Bea Mountain Mining Corporation (Gold): USD 691,254,539
Western Cluster (Iron Ore): USD 93,483,294
ArcelorMittal Liberia (Iron Ore): USD 271,053,171
Employment: Sector Engages Nearly 20,000 Workers
Total employment across the extractive industries stood at 19,345, with 16,602 males and 2,743 females recorded.
Bea Mountain reported a notably high number of foreign permanent employees, totaling 1,110 during the period under review.
Suspicious Transactions Identified
In a strong anti-corruption stance, the MSG announced that it had uncovered suspicious transactions involving the Liberia Petroleum Regulatory Authority (LPRA), ArcelorMittal Liberia, and the Liberia Revenue Authority (LRA).
The MSG has directed the LEITI Secretariat to forward the findings to the Liberia Anti-Corruption Commission (LACC) for investigation.
Toward Validation and Improved Governance
The MSG emphasized that the launch of the new report paves the way for nationwide dissemination, during which citizens will be engaged on the findings and recommendations.
The launch also sets the stage for the MSG’s upcoming retreat in Grand Bassa County to finalize validation templates, ahead of Liberia’s next EITI validation slated for January 1, 2026.
Stakeholders were commended for their contributions—from government partners to development agencies and the LEITI Secretariat.
The MSG also issued a stern reminder to institutions that failed to cooperate with the Independent Administrator, stressing that compliance with LEITI reporting is mandated by law.
Concluding the press conference, the MSG extended holiday greetings to Liberians and reaffirmed its commitment to promoting transparency, accountability, and the equitable management of Liberia’s natural resources.
