Transcript Slide 1

LIBERIA
Lone Star of Africa
INVESTMENT AND MINING
OPPORTUNITIES
Hon. A Kpandel Fayia
Deputy Minister for Planning and Research
MINISTRY OF LANDS, MINES & ENERGY
REPUBLIC OF LIBERIA
INDABA 2006
Lone Star of Africa
Introduction
Introduction
• Small country on West African coast (111,000 km2)
• Independent republic since 1847
• Rich in natural resources; Iron Ore, Diamonds, Gold, Bauxite
• Highly prospective and under explored
• Investment highly encouraged
• A Democratically elected Government of Liberia now in place
Investment and Mining Opportunities INDABA 2006
2
Liberia
Lone Star of Africa
Introduction
Geography
Borders Republics of Sierra Leone,
Guinea and Cote d’Ivoire
Tropical, humid climate, rainy season
from July to September
8 o45'
MAP OF LIBERIA
Guinea
Guinea
Voinjama
LEGEND
SierraLeone
Sierra
Leone
Annual rainfall between 200-380cm
MA JOR ROAD
7 o50'
RIVER
Kpo Range
no
Ma
Ko ngo
Israe l
Soso Cam p
Vaney Camp
Be a Mounta in sButte r H ill
6 55'
Tu bmanbe rg
Gabanka
Ivory
IvoryCoast
Coast
fa
R ober tspo rt
TOWNS
Lo
Dense secondary forest, residual
laterite and detrital material
G ondoja
Weaju
Si lve r H ill s
Mano G odua B op olu
KG L
Jenne
o
RAILWAY
Bella Yella
Gayama Zelagai
Ta wa lat a
Tape ta
Monrovia
LIBERIA Zwehdru
LIBERIA
6 o00'
Bentley Mi ne
Buchanan
Numerous streams and rivers
Atlantic Ocean
Atlantic Ocean
o
5 0 5'
Bukon Jedeh
Green ville
Coastal plains to plateau, low
mountains in NE to 1,380m
Kaloken
0
10 0
200 kms
Jonoya
Harper
11 o30'
Investment and Mining Opportunities INDABA 2006
10o 40 '
9 o00'
9 o 50'
3
8 o10'
o
720'
Liberia
Lone Star of Africa
Geological Overview
• Crystalline rocks of Precambrian age
• Western half of country typically of
Archean age
• Eastern half, lenses of Proterozoic
greenstone belts occur surrounded by
rocks of probable Archean age
• Rocks of Pan African age extend
northwesterly along most of the Liberian
coastline from the Cestos shear zone
Investment and Mining Opportunities INDABA 2006
4
Liberia
Lone Star of Africa
Investment Opportunities
• Security is assured with the presence of multi-national UN
peace keepers
• Numerous mineral occurrences being mined by artisans
• Investment and mining laws are globally competitive
- 100% repatriation of profits
- No currency exchange restrictions
• New mines expected in gold, diamonds and Iron Ore
Investment and Mining Opportunities INDABA 2006
5
Liberia
Lone Star of Africa
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Revised by: E.O. Sherman
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Investment and Mining Opportunities INDABA 2006
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6
Liberia
Lone Star of Africa
Liberia’s Mineral Potential
• 30% contribution to GDP
MINERAL RESOURCES
• 70s-80s worlds 5th exporter of iron ore
IRON ORE
GOLD
• Challenge of restoring mining industry
largely inactive since civil war in 1989
DIAMOND
OTHER MINERALS
• Previous and current exploration have
revealed the vast mineral potential
Investment and Mining Opportunities INDABA 2006
7
Liberia
Lone Star of Africa
• Widespread occurrences
• 1951-1985 >613 Mt of ore mined
Iron Ore
• Estimated >3,443 Mt reserves
• Liberia was #1 producer in Africa
Courtesy of E.O.Sherman, 2004
Courtesy of E.O.Sherman, 2004
Investment and Mining Opportunities INDABA 2006
8
Liberia
Lone Star of Africa
Estimated Reserves and Current Status
DEPOSIT
LOCATION
COMPANY
Mt.
Nimba
342Km ENE
Monrovia
of
LAMCO
LIMINCO
(1989-PRESENT)
Bomi
Hills
80Km
NW
Monrovia
of
Liberian
(LMC)
Mano
River
Mano
River
Hills,Near Sierra
Leone Border
Bong
Mine
80Km
NE
Monrovia
Putu
Range
Bea Mt
Wologizi
Range
Goe
Fantro
RESERVE
(Million) Tons
ORE
GRADE
% Fe
TYPE OF ORE
CURRENT
STATUS
417
65-69
59.1
52.2
Nimba
–
Hematite
Western Area –
Magnetite
MDA to MITTAL
STEEL
45
68
Magnetite
Exploration
Permit to BHP
National Iron Ore Co.
(NICO)
136
51.4
Limonitic
OPEN
TO
NEGOTIATION
DELIMCO
Bong Mining Co (BMC)
290
35-45
Magnetite
OPEN
TO
NEGOTIATION
Grand
Gedeh
County,ESE
of
Monrovia
BMC
455
45
Itabirite
Exploration
Permit to MARIO
Grand
Cape
Mount County
LMC
382
35-45
Magnetite,
Hematite,Goethi
te
OPEN
TO
NEGOTIATION
Lofa County
LISCO
1000
35-40
Hematite
Exploration
Permit to BHP
LAMCO (LIMINCO)
NA
35-40
Hematite
Exploration
permit to BHP
60Km
NE
Monrovia
of
Of
Mining
CO.
Investment
Mining
Sector
andOverview,
Mining Opportunities
prepared for INDABA 2005
2006
9
Liberia 9
Lone Star of Africa
Iron Ore Exports 1951-1983
IRON ORE EXPORT CHART
LMC
NIOC
LAMCO
BMC
16
•
426 Mt of iron ore were
exported over this period
•
Approximately 0.17 Mt of ore
were exported in 1951 by LMC
•
Highest export of 14.7 Mt in
1972 by LAMCO
•
Total of 29 Mt exported in 1972
14
12
MILLION TONS
10
8
6
4
2
0
1945
1950
1955
1960
1965
1970
1975
1980
1985
YEAR
Investment and Mining Opportunities INDABA 2006
10
Liberia
Lone Star of Africa
Current Iron Ore Exploration permit
10°30'0"W
9°0'0"W
7°30'0"W
6°0'0"W
Iron Ore Exploration Permits
7°30'0"N
±
0
7°30'0"N
100
Kilometers
!Ä
!Ä
6°0'0"N
6°0'0"N
Legend
!Ä
Airport
Railroad
Rivers
MARIO
BHP Billiton
4°30'0"N
4°30'0"N
EOS 02/02/06
10°30'0"W
9°0'0"W
Investment and Mining Opportunities INDABA 2006
7°30'0"W
11
6°0'0"W
Liberia
Lone Star of Africa
Iron Ore Deposit
• Mining stopped 15 years
ago due to civil conflict
• Mittal Steel to rehabilitate
the mine and the railway
Courtesy of E.O.Sherman, 2004
C
• Major Iron ore mine on the
horizon
• Bong Mines, and former
NIOC mines are available
for investment
Courtesy of E.O.Sherman, 2004
Investment and Mining Opportunities INDABA 2006
12
Liberia
Lone Star of Africa
Diamond Potential
• Alluvial diamonds mined widely in Northern, Central and Western Liberia
• Highly prospective Archaean craton
• Kimberlite dykes and pipes suggest primary source
• Continuous discoveries of diamondiferous kimberlites by Mano River
Resources
• Recent discovery of a Kimberlite by DFI
• Recent discovery of alluvial diamonds by villagers in the South east
• Potential areas are still available for further investment
Investment and Mining Opportunities INDABA 2006
13
Liberia
Lone Star of Africa
Gold Potential
• Overwhelming prospectivity for major gold deposits
• Strong E-W and WNW shear zones associated with greenstone
• Widespread occurrence of gold workings in all provinces
• “Cestos Shear zone” part of the west African gold fields which
hosts Sangura mine (Guinea), Ity mine (Ivory Coast), Syama
mine (Mali), etc.
Investment and Mining Opportunities INDABA 2006
14
Liberia
Lone Star of Africa
Gold Projects
• LARJOR one of the largest potential
projects being looked at by Mano
•Weajue Gold project, an advanced
project also being evaluated by Mano
•Kokoya Gold Project in Central Liberia
– AmLib United Minerals
•Liberian Gold Corporation projects in
the Birrimian in the SE of the country
• Workings in most areas extend over
1km strike
• Sheared mafic to ultramafics
•Highly prospective areas are still
available for investment
Investment and Mining Opportunities INDABA 2006
15
Liberia
Lone Star of Africa
Other Minerals
1.
Heavy mineral beach sand deposits containing ilmenite, rutile, zircon and thorium are present in
coastal zones along a 300mile NW-SW coastal stretch as raised beaches up to 20ft high.
2.
Bauxite: bauxite occurs in the North and Southeastern parts of the Country. Detailed exploration
work needs to be carried out to ascertain the total reserves.
3.
Barite: preliminary reserves estimate of 19 veins by Dresser Minerals in 1970 gives a total of
553,150 tons of barite to a depth of 500ft with in the Gibi. Further exploration could expand this.
4.
Phosphate: Bambuta phosphate deposit is located in the Clay district in Western Liberia, it has
been proven to have high grade phosphate mineralization
5.
Manganese: The Mount Dorthrow Manganese deposit is located in Grand Gedeh county, Eastern
Liberia. Commercial grade has not yet been established.
6.
Kyanite: prospecting and exploration activities have revealed reserves up to 10 million tons of
Kyanite bearing rock containing approximately 2.5 Mt in Mt. Montro in Grand Bassa county.
7.
Hydrocarbon potential: Information gathered from regional geological and geophysical data
revealed that the continental shelf of Liberia can be rated as having fair to good hydrocarbon
potential. According to latest NPV studies, Liberia's best potential for petroleum accumulation lies
within deep waters.
Investment and Mining Opportunities INDABA 2006
16
Liberia
Lone Star of Africa
LIBERIA AND DIAMOND
SANCTIONS
• UN imposed sanctions on Liberia in 2001.
• Government is fulfilling requirements to have the
A
embargo lifted.
• Compliance with the Kimberley Process Certificate
Scheme is in progress.
• Mining Cooperatives are being organized for effective
and efficient monitoring of diamond production, sales
and export.
Investment and Mining Opportunities INDABA 2006
17
Liberia
Lone Star of Africa
LIBERIA AND DIAMOND SANCTIONS
• The concept of “Diamonds for Development (D4D)” will be introduced
so that a portion of proceeds from diamond production will be
returned to community of origin of diamonds for development
purposes.
A
The UNDP and Government of Liberia are undertaking and
developing the D4D program to assist the artisanal miners in Liberia.
• A Regional Mining Conference is being planned to be held in
Monrovia in April 2006 to foster regional collaboration and
cooperation in the Mano River Countries plus La Cote d’Ivoire.
• Countries and organizations experienced in alluvial
production will be invited to the Monrovia Conference.
Investment and Mining Opportunities INDABA 2006
18
diamond
Liberia
Lone Star of Africa
Summary
Summary
• World Class iron ore deposits
• Greenstone belts hosting significant gold deposits
• New diamondiferous kimberlite pipes being
discovered
• Substantial international support and investor
confidence
• Exceptionally prospective
• A country encouraging investment
Investment and Mining Opportunities INDABA 2006
19
Liberia
Lone Star of Africa
Investment and Mining Opportunities INDABA 2006
20
Liberia