The regulation also prescribes royalty rates for various minerals, such as 3% for gold and diamonds, 5% for iron ore, and 8% for strategic minerals. Application fees for licenses range from $50USD to $150USD, depending on the type of application.
According to a joint statement from the Ministries of Mines & Energy and Finance and Development Planning,the updated fee structure is an amendment to the Ministry of Mines and Energy’s 2010 Administrative Regulations and is designed to foster better governance in the issuance of mining licenses. It aims to ensure that all revenues from the sector are paid directly to the Liberia Revenue Authority (LRA) for deposit into the Government of Liberia’s account.
Government’s Call for Compliance
The Ministers of Mines and Energy, Wilmot Paye, and Finance and Development Planning, Augustine Kpehe Ngafuan, emphasized the importance of compliance, urging all stakeholders to adhere to the revised fee structure. They noted that these measures are crucial for promoting transparency and accountability in Liberia’s extractive industries.
The ministries called on stakeholders, including mining companies, brokers, dealers, and community organizations, to review the fee structure and ensure timely payment of the required fees. They also pledged to address any concerns raised by stakeholders in implementing the new regulation.
With this new framework, Liberia aims to optimize its natural resource potential while maintaining a fair and competitive investment environment for local and international stakeholders.
🇱🇷 Liberia: Gov’t Announces Revised Fee Structure for Mining Licenses, Permits

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