The 1st Liberian Mining, Energy & Petroleum Conference & Exhibition (LIMEP 2011)
will take place from 11 – 13 April 2011, in Monrovia, Republic of Liberia.
LIMEP 2011 is a turnkey event focusing on Liberia’s mining, energy and petroleum potential and their sustainable development. LIMEP will feature three days of conference sessions, a trade exhibition, round table discussions, seminars as well as touristic trips and mine site visits.
The inaugural LIMEP will gather international investors, industry experts, Liberian decision makers, development partners and donors, as well as other key actors and partners in Liberia’s extractive industries.
The main theme of LIMEP 2011 is “Integrating the mining, petroleum and energy sectors into
the development strategy for a Liberia that is moving forward.”
Liberia: a democratic & transparent investment destination blessed with abundant natural resources
- After two decades of instability and civil war, a government was democratically elected in 2006
and Africa’s first ever female President was sworn into office.
- Liberia is rich in natural resources notably: Iron Ore, Diamonds, Gold, heavy mineral beach sand and possesses a
high petroleum potential. However, the country needs more exploratory work to validate.
- Investment and mining laws are globally competitive with 100% repatriation of profits and no currency exchange restrictions
- Liberia has been named the first Extractive Industries Transparency Initiative Compliant Country on the African continent.
- The International Monetary Fund in 2010 stated that Liberia had made strong advances in financial management and transparency in the mining sector and was on track to clear much of its debt this year under the Heavily Indebted Poor Countries Initiative(HIPC).
- The Ministry of Lands, Mines and Energy in April 2010 opened a Mining Cadastre centre. The efficiency and reliability of the Mining Cadastre Information Management System will enhance the momentum of the flow of private mining investments.
- Liberia in March 2010 published a new mineral policy, which aims to provide an equitable and competitive mining sector, fully integrated into the African market and constitute a major player in National, continental and international capital and commodity markets. It is also intended to provide a framework that will guide the sustainable management of Liberia’s mineral resources.
Highlights of Liberia’s mining, petroleum and energy industries
• Estimated >3,443 Mt reserves
• Globally #3 iron exporter in 1960s and #1 producer in Africa
• Current major iron projects in Liberia: Yekepa - 1Bt, Putu – 1.1Bt,
Goe Fantro- 0.05Bt, Bong - 0.29Bt
• Liberia geographical position is crucial to regional mining infrastructure as major iron ore deposits in Guinea could be transported through Liberia’s ports and regional infrastructure projects initiated.
• Major iron ore deals have been signed in Liberia over the last decade with a value of approximately $10 billion.
• Liberia’s “Cestos Shear zone” is part of the West African gold fields which hosts Siguiri mine (Guinea), Ity mine (Ivory Coast), Syama Mine (Mali). There is an overwhelming prospectivity for major gold deposits
• Strong E-W and WNW shear zones associated with greenstone
• Widespread occurrence of gold workings in all provinces
• High-grade gold mineralization has been found at New Liberty Mine and could soon become Liberia’s first industrial goldmine.
• Alluvial diamonds mined widely in Northern, Central and Western Liberia
• Highly prospective Archaean craton
• Kimberlite dykes and pipes suggest primary source
• Potential areas are still available for further investment
• Liberia became a Kimberley Process (KPCS) compliant country on May 4, 2007.
Official diamond export recommenced in September 2007
• Interest in Liberia’s offshore reserves has been rising due to the recent Venus discovery in Sierra Leone during September 2009 which
could confirm a new oil frontier.
• Liberia has held three licensing rounds, starting in 2004 and most recently in 2009-2010. Some of the world’s major exploration companies along with junior players have acquired blocks in the country.
• Offshore Liberia is a vastly unexplored covering more than 100,000 km2 - to water depths of 4,000 m. Only 7 exploration wells were drilled offshore from 1970 to 1985. Since 2004, 9,400 km of 2D seismic data (including gravity and magnetic data) has been carried out in the offshore area of Liberia, which has played a key part in attracting companies to the region and understanding the potentialities.
Energy & Electricity
• The Liberia Electricity Corporation LEC has signed a five-year Management Contract with Manitoba Hydro International (MHI). The contract which is valued at US$53m was signed on Tuesday April 20, 2010. This will include the management of LEC and is aimed at strengthening the various capacities at LEC and to deliver efficient and sustainable electricity to the city of Monrovia and its environs.
• Liberia's electricity generation capacities will more than double within the next year from 10 megawatts to 23 megawatts.
• The Rural and Renewable Energy Agency (RREA) has been established with the aim to administer electrification to rural areas through renewable and least-cost energy technologies and resources, including micro-hydro power plants, small biomass power plants, solar photovoltaic applications, and other mini-grid and stand-alone systems.
• The Cote d’Ivoire –Liberia-Sierra Leone – Guinea (CLSG) Interconnection Project being undertaken by the West African Power Pool (WAPP) is one of the objective of establishing a more secured, reliable transmission corridor for transfer of low cost energy and the construction of approximately 1,100 Km of high voltage transmission line.
• Funding is being gathered for the rehabilitation of the Mount Coffee hydroelectric power plant and a mini hydro plant in Yanduhun Lofa County.