Montserrado County District #9 Representative Frank Saah Foko is pushing for the establishment of a Liberia National Gold Refinery Company, a move he says could help the country retain more economic value from its gold resources while strengthening revenue protection and curbing illicit trade.
Foko’s proposal has been forwarded to a specialized committee headed by Rep. Jeremiah Sokan , the house’s chairman on land mines and energy for review, with a report expected to be submitted to plenary within 30 days.
In a communication dated October 28, 2026, addressed to House Speaker Richard Nagbe Koon, Foko submitted a proposed policy framework covering national gold refining, responsible gold trading, and domestic value addition for the period 2026–2035.
The lawmaker argued that although gold is mined across Liberia, much of the value generated through refining, assaying, and trading is realized abroad, limiting the economic benefits available to the country.
He also highlighted concerns over informal gold supply chains, limited access to transparent pricing and reliable gold testing for small-scale miners, and discrepancies between production, export, and revenue records that could create opportunities for under-reporting and illicit trade.
The proposed framework outlines five priorities: domestic gold refining, transparent supply chains, revenue protection, responsible investment, and sustainable mining practices.
Foko recommends a privately financed and independently operated refinery subject to strong government regulation.
He said any government ownership stake, public financing, exclusive purchasing rights, or financial guarantees should require a separate feasibility study and the necessary legal and fiscal approvals.
The proposal also calls for a digital gold-tracking system, transparent pricing, beneficial ownership disclosure for investors, independent audits, and stronger reconciliation of gold production, purchases, exports, taxes, and royalties.
Additional safeguards would address money laundering, corruption, environmental protection, worker safety, community development, and the rights of existing mining license holders.
Under the proposed framework, the relevant House committees are expected to examine the initiative and report to plenary within 30 days.
The review is expected to include consultations with key government institutions, including the Ministry of Mines and Energy, the Ministry of Finance and Development Planning, the Liberia Revenue Authority, the Environmental Protection Agency, and the Central Bank of Liberia.
The proposal also calls for public hearings involving mining companies, artisanal miners, mining cooperatives, host communities, and civil society organizations.
Foko further urged lawmakers to consider existing gold-sector proposals before proceeding, including measures introduced in the Senate in 2026, to avoid duplication or conflicts with ongoing efforts to review Liberia’s Minerals and Mining Law.
If the House decides to proceed following the committee review, the next step could involve drafting legislation to establish the proposed Liberia National Gold Refinery Company.
The proposal remains under legislative consideration. No decision to establish the company, commit public funds, or guarantee private investment has been approved through this communication.
