President Joseph Nyuma Boakai has temporarily lifted the ban on the export of Heavy Metal Sand (HMS) to address concerns within Liberia’s mining sector. The executive decision, effective immediately, allows licensed HMS exporters a 60-day grace period to export stockpiled materials that have already been prepared.
This move is designed to clear existing stockpiles while ensuring that future exports comply with the newly updated and more stringent regulations imposed by the Ministry of Mines and Energy. The lifting of the moratorium comes alongside critical reforms aimed at improving transparency, oversight, and revenue generation in Liberia’s HMS industry.
The revised regulations, which President Boakai has endorsed, include significant measures such as limiting the number of HMS mining licenses to three operators. This cap is intended to enhance government oversight, reduce illicit activities, and streamline revenue collection. Additionally, exporters will now be required to pay an 8% royalty on HMS exports upfront, a substantial increase from the previous 3%, reflecting the government’s commitment to securing fair benefits from Liberia’s natural resources.
The President has tasked the Ministry of Mines and Energy, the Liberia Revenue Authority (LRA), and the Ministry of Finance and Development Planning (MFDP) with ensuring strict adherence to the new regulations. These institutions are expected to work closely together to guarantee a transparent export process and fulfill all revenue obligations.
In a statement to the nation, President Boakai emphasized the importance of sustainable resource management. “These regulations are designed to strengthen our resource governance framework, ensuring that our natural resources contribute meaningfully to Liberia’s economic development and benefit all Liberians,” he said.
The temporary lifting of the export ban aligns with the Boakai Administration’s focus on fostering economic growth while ensuring effective management of the nation’s resources. By allowing exporters to clear their stockpiled materials, the government aims to avoid financial losses while preparing to enforce stricter regulations moving forward.
The new licensing structure and increased royalty payments are expected to foster a more responsible mining sector. Analysts believe the decision could attract more sustainable investment while discouraging exploitative practices.
The mining industry has responded positively to the reforms, with several HMS exporters expressing relief over the temporary lifting of the ban. The increased royalties and licensing restrictions have been largely welcomed as steps toward a more equitable and accountable sector.
Environmental groups have also supported the government’s efforts to strengthen oversight mechanisms, calling for additional measures to safeguard Liberia’s ecosystems from the potential environmental impact of HMS mining.
