Liberia sees mine and oil deals drawing $4.8 billion in investment

Bloomberg News | January 27, 2026 | 9:04 am Energy Africa Oil & Gas

Liberia President Joseph Boakai. Credit: Joseph Boakai’s Facebook account

Liberia’s leader expects mining and oil deals with multinational companies to generate $4.8 billion in investment in the West African nation.

Mining and infrastructure agreements with US firm Ivanhoe Atlantic Inc. and Luxembourg-based ArcelorMittal SA are expected to spur investment of $4 billion, and those with TotalEnergies SE and Nigeria’s Oranto Petroleum about $800 million, President Joseph Boakai said in a speech late Monday.

Liberia backs Ivanhoe Atlantic rail deal to unlock iron ore mine

“The government has strategically leveraged opportunities to attract credible investments and responsibly exploit natural resources for the benefit of Liberians,” he said. The economy is expected to expand by an average of 6% between 2026 and 2018, after growing 5.1% in 2025, he added.

ArcelorMittal operates a mine in northern Liberia that exports about 10 million tons of iron ore a year.

A railway access agreement has been concluded with Ivanhoe Atlantic to transport ore from mines in neighboring Guinea, Boakai said.

(By Festus Poquie)