By By: Domingo Dargbeh;
President Joseph Nyuma Boakai, Sr., has issued a directive temporarily lifting the moratorium on the export of Heavy Metal Sand (HMS), granting licensed exporters a 60-day grace period to ship materials that were prepared prior to the moratorium. The decision, which takes immediate effect, aims to clear existing stockpiles while ensuring future compliance with revised regulations from the Ministry of Mines and Energy.
The new regulations, recently reviewed and endorsed by President Boakai, mark a significant step in strengthening oversight and revenue collection within Liberia’s HMS industry. They include a cap on mining licenses, limiting operations to a maximum of three operators, and an increase in royalty payments from 3% to 8%, to be paid upfront by exporters.
The Ministry of Mines and Energy, the Liberia Revenue Authority, and the Ministry of Finance and Development Planning have been tasked with enforcing compliance to these updated guidelines. President Boakai emphasized his administration’s commitment to sustainable and transparent resource management, stating that the changes aim to ensure Liberia’s natural resources contribute meaningfully to the nation’s economic development and benefit all citizens.
