Liberia generated more than half a billion United States dollars from gold exports in 2023, yet the government received only a small share of that value in direct revenue, according to the 16th Extractive Industries Transparency Initiative (EITI) Report.
The report, launched on Friday, December 12, 2025, by the Multi-Stakeholder Steering Group (MSG) of the Liberia Extractive Industries Transparency Initiative (LEITI), highlights a sharp contrast between the country’s booming extractive exports and modest public earnings.
According to the findings, Liberia exported extractive commodities worth approximately US$1.35 billion between January 1 and December 31, 2023. Gold dominated exports, accounting for US$660.34 million and emerging as the country’s most valuable extractive commodity.
Bea Mountain Mining Company led the sector, exporting gold valued at US$691.25 million, underscoring its central role in Liberia’s mining industry.
Iron ore ranked second, with exports valued at US$482.7 million, driven primarily by ArcelorMittal Liberia and Western Cluster. Other exports included diamonds worth US$17.91 million, rubber valued at US$103 million, and crude palm oil totaling US$82.79 million.
Despite these strong export figures, total revenue received by the Government of Liberia from the extractive sector stood at US$152.46 million.
The mining sector contributed US$121.49 million, while agriculture accounted for US$23.97 million, forestry US$6.45 million, and oil and gas just US$550,000.
The report raises ongoing concerns among transparency advocates that Liberia’s natural wealth is not translating into proportional public revenue.
LEITI officials pointed to issues such as tax exemptions, fiscal incentives, contract terms, and weak revenue collection as possible factors behind the disparity.
Beyond revenue, the extractive sector employed 19,345 people in 2023, including 16,602 men and 2,743 women. Bea Mountain Mining Company alone recorded 1,110 permanent foreign employees, renewing debate over local employment and skills transfer.
On governance, the MSG disclosed that it identified suspicious transactions involving the Liberia Petroleum Regulatory Authority (LPRA), ArcelorMittal Liberia, and the Liberia Revenue Authority (LRA). These cases have been referred to the Liberia Anti-Corruption Commission (LACC) for investigation.
LEITI announced plans for nationwide dissemination of the report to encourage public engagement ahead of Liberia’s EITI validation, scheduled to begin January 1, 2026.
The MSG emphasized that EITI compliance is legally required, warning that non-cooperating institutions and companies could face legal consequences.
As gold continues to generate hundreds of millions of dollars on the global market, the report renews calls for stronger transparency, improved contract enforcement, and enhanced revenue mobilization to ensure Liberia’s natural resources benefit its people.
