‘USA TODAY’, a leading U.S.-based business newspaper, conducted an exclusive interview with Liberia’s Minister of Mines and Energy, Wilmot J.M. Paye, focusing on the nation’s natural resource prospects and bold energy sector reforms. The interview was conducted in Monrovia by USA TODAY’sbusiness reporter, Joao Pereira, the Ministry of Mines and Energy confirmed in a statement released Thursday.
During the wide-ranging discussion, Minister Paye laid out a comprehensive roadmap for how the administration of President Joseph N. Boakai is leveraging the country’s vast mineral and energy assets to drive inclusive economic development under the ARREST Agenda.
Energy Sector: Ending Monopoly, Expanding Access
Minister Paye emphasized that energy is central to Liberia’s development ambitions. Currently, many mining concessionaires generate their own power due to limited national supply, a situation he said undermines the country’s negotiating power and national interest.
“We are reforming the Liberia Electricity Corporation (LEC) to break its monopoly over generation, transmission and distribution,” said Paye. “This reform opens the door to private operators and independent power producers, making the sector more attractive to investment.”
Liberia recently launched a National Energy Compact—a $1 billion framework aimed at expanding electricity access and positioning energy as a driver of growth. The government’s target is universal energy access for 75% of the population by 2029, with support from development partners like the World Bank and private sector investors.
Mining Sector: Unlocking Untapped Wealth
Liberia’s mining industry is currently the country’s largest source of foreign exchange, centered around traditional exports like iron ore, gold, and diamonds. However, Minister Paye revealed plans to diversify the sector through renewed geological surveys and exploration.
“Thanks to historic mapping by the U.S. Geological Survey (USGS), we know our mineral potential is much greater,” he stated. “Now, we are working with USGS to update those studies using modern technology to give investors accurate, government-led data.”
Paye stressed that reliable geological data will cut down negotiation time, improve investor confidence, and accelerate resource development ~ critical in a country where over 60% of the population is under 30.
He also highlighted Liberia’s potential in rare earth elements and energy transition minerals, calling them “strategic resources for the global green economy.” A full national assessment of Liberia’s mineral resources is planned for completion by 2029–2030.
Reforming Concessions: A New Vision of Fairness
Minister Paye acknowledged that many past concession agreements were poorly negotiated, failing to adequately consider national and community interests.
“We are reviewing existing agreements to ensure that investment succeeds—but not at the expense of Liberia,” he said. “Our vision rests on a triangle: investors, communities, and government. All three must benefit.”
Citing the case of a Turkish company exporting $20–30 million worth of gold weekly, Paye questioned how such volumes were possible while Liberia’s national budget remains smaller than the annual export figure.
“This is unacceptable. We’re working with the Ministry of Finance, Central Bank, and other stakeholders to ensure Liberia receives its fair share,” he said.
Highlighting Liberia’s strategic geography, Minister Paye outlined the government’s ambition to turn the country into a regional logistics hub, leveraging its 350 miles of coastline and coastal rail infrastructure.
“Our railways will no longer be reserved for one company. Under President Boakai, we are opening rail infrastructure to multiple users,” he said. “This gives us a competitive advantage in the region.”
A flagship project in the pipeline is the Putu Iron Ore Project in southeastern Liberia—one of the largest high-grade iron ore deposits in West Africa. Formerly owned by Russia’s Severstal, the project stalled due to financial constraints and later, international sanctions.
“Putu is a national asset. We are in discussions to recover and unlock it,” Paye disclosed. “President Boakai has made this a top priority. We hope to resolve outstanding issues by year-end and attract new investment—possibly from U.S. partners.”
Minister Paye painted Liberia as a uniquely positioned country for U.S. and international investors, citing political stability, democratic governance, and historical ties to the United States.
“Liberia is one of the most stable and peaceful country in West
There’s no xenophobia here. Investors can freely repatriate profits and operate in a friendly business environment,” he said.
He also spoke to the diaspora’s vital role in national development. “Liberians abroad are not just remittance senders ~ they are doctors, engineers, and entrepreneurs. We want them to come home and help build the country.”
While mining and energy are headline sectors, Paye encouraged U.S. investors to explore opportunities in agriculture, renewable energy, and trade infrastructure.
“Our hydro, solar and water resources are abundant, and Liberia’s green landscape makes it a natural hub for renewables,” he said. “The upcoming Liberty Corridor, modeled after Angola’s Lobito Corridor, will connect Guinea and other neighbors to the sea, boosting regional trade.”
Minister Paye concluded with a clear message to the global investment community: “Liberia is not just open for investment ~ it is the destination.”
He reiterated the government’s commitment to transparency, investor protection, and regulatory reform, and underscored that more than 90% of the country’s mineral potential remains untapped.
USA TODAY’s interview offers a timely and in-depth look at Liberia’s economic vision, as the West African nation positions itself as a rising player in the global energy transition and critical minerals market.
