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

Liberia’s Vice President Jeremiah Kpan Koung says African countries must clearly understand the true value of their mineral resources before commencing negotiations with investors to develop them. He said this is fundamental to getting a good return and ensuring that Africa actually gets a fair share of the value of its minerals.

“Africa must understand the value of what it possesses before negotiating the terms of its development,” he said.

At the Mining in Motion 2026 conference in Accra (theme: “One Continent, One Voice on Minerals: Building Africa’s Mineral Future”) Mr Koung said that Africa’s immense mineral wealth has not in any way led to the same level of industrial development, the creation of skilled employment or real prosperity for the majority of its people.

“For too long, Africa has exported raw and minimally processed minerals while much of its skilled employment, technology and commercial value has been created elsewhere,” he said.

He argued that the burgeoning global demand for minerals in energy systems, digital technology and manufacturing presents African countries with an opportunity to alter the current situation through greater cooperation and increased value addition at home.

Stronger bargaining power

Mr Koung is calling for a common African minerals policy direction which respects national sovereignty and establishes common principles to ensure fair returns, protect communities and build competitive industries.

He urged governments to strengthen geological surveys, laboratories, and digital information systems to improve knowledge of their mineral deposits. He explained that reliable geological data, transparent licensing, and capable regulatory institutions will help governments to negotiate better agreements and protect the public interest.

He also called for greater co-operation on taxation, beneficial ownership, local content and resource reporting in order to reduce the harmful competition between the various African countries and to enhance their collective bargaining power.

From extraction to industrial development

The Liberian Vice President said Africa needs to go beyond just exporting raw minerals and move on to establishing processing and manufacturing industries that will create more value on the continent.

“A mineral deposit alone cannot sustain an industry,” he stressed.

He said mineral processing requires dependable electricity, efficient transport, skilled workers, and access to markets. He proposed that African countries identify regional projects combining their strengths in mineral resources, energy supply, and processing capacity.

He noted the African Continental Free Trade Area provides a framework for connecting these capabilities and building regional value chains. Infrastructure investments linked to mining should benefit hospitals, local businesses, and other productive sectors.

Mining benefits must outlast mine closures

Mr Koung called on governments and mining companies to make sure that communities actually benefit from the extraction of minerals.

He said the mining agreements should cover fair compensation, local employment, procurement, environmental protection and access to basic services. “The benefit of the mining must be visible when the mine is finally closed,” he said.

He called for mine closure and livelihood restoration to be planned and funded from the outset of the mining operations,ons with women, youth and persons with disabilities having equitable access to training, employment and business opportunities.

On artisanal and small-scale mining, he advocated accessible licensing, technical assistance, suitable financing and legitimate markets, alongside stronger action against smuggling, child labour and criminal exploitation.

Liberia proposes common minerals compact

To turn the conference discussions into tangible outcomes, Mr Koung proposed a common minerals policy compact which would set out the shared African principles and a regional value addition roadmap which would identify the priority projects and the processing opportunities.

He also called for a coordinated approach to geological information, local content and technology transfer and greater cooperation in the fight against illicit mineral trade.

The proposals are for an annual ministerial review underpinned by a performance dashboard which will track investment, project preparation, local procurement, skills and community outcomes.

Mr Koung said the African Mineral Strategic Group (in conjunction with the African Union, the African Minerals Development Centre and the various regional institutions) could assist in the coordination of implementation.

He reiterated Liberia’s commitment to working with the Mano River Union, ECOWAS and the various continental institutions on common infrastructure, compatible policies and regional industrial opportunities.

“Africa’s mineral wealth is held in trust for present and future generations,” he said, urging delegates to leave Accra with practical projects, clear standards and commitments they would be prepared to account for.