Liberia Anticipates New Minerals Discovery Will Draw $3 Billion

Liberia expects to attract $3 billion in investment after the discovery of new minerals, President Joseph Boakai said.

Studies conducted over five decades and funded by the Chinese show the iron ore and rubber exporter also has uranium, lithium, cobalt, manganese and neodymium deposits, among others, Boakai said in a state of the nation address late Monday. Talks are currently underway with major multinational companies and local investors to mine the new minerals and invest in other related sectors such as energy, infrastructure and technology, he said.