Know the value of mineral wealth before negotiating deals, Liberia’s Veep tells African leaders

Liberia's Vice President Jeremiah Kpan Koung has urged African leaders to grasp the full worth of their mineral resources before engaging with investors. He emphasized the importance of understanding this value to secure a fair return and ensure Africa benefits from its mineral wealth. At the Mining in Motion 2026 conference in Accra, Koung highlighted that Africa's vast mineral reserves haven't translated into industrial development, skilled job creation, or overall prosperity for the majority of its citizens.

He pointed out that Africa continues to export raw and lightly processed minerals while the skilled labor, technology, and commercial value have been generated elsewhere. Koung proposed that Africa seize the global surge in mineral demand for energy, digital technology, and manufacturing to reverse this trend by fostering stronger cooperation and increasing value addition domestically.

He advocated for a unified African minerals policy that respects national sovereignty and sets common standards to guarantee equitable returns, community protection, and thriving industries. To bolster their bargaining position, Koung called for improved geological surveys, laboratories, and digital systems to enhance knowledge of mineral deposits.

He stressed the necessity of reliable geological data, transparent licensing, and robust regulatory bodies to secure better agreements and safeguard public interests. Koung also stressed the need for industry development beyond mere mineral extraction, emphasizing the importance of establishing processing and manufacturing sectors that create more value on the continent.

He urged African nations to identify regional projects leveraging their mineral strengths, energy supply, and processing capacities, and to leverage the African Continental Free Trade Area to connect these capabilities and build regional value chains. Additionally, Koung insisted that the benefits of mining should extend beyond mine closures, insisting on fair compensation, local employment, procurement, environmental protection, and access to basic services for affected communities.

For artisanal and small-scale mining, he advocated for accessible licensing, technical assistance, suitable financing, and legitimate markets, coupled with stronger action against smuggling, child labor, and criminal exploitation. To convert the conference talks into practical results, Koung suggested a common minerals policy compact outlining shared African principles and a regional value addition roadmap with priority projects and processing opportunities.

He also called for coordinated efforts in geological information, local content, technology transfer, and combating illicit mineral trade, proposing an annual ministerial review supported by a performance dashboard tracking investment, project preparation, local procurement, skills, and community outcomes. Koung expressed Liberia's commitment to collaborating with the Mano River Union, ECOWAS, and other continental bodies on shared infrastructure, compatible policies, and regional industrial prospects, pledging Africa's mineral wealth is held in trust for current and future generations.