Opportunities in the Mining Sector Investments have been the mainstay of the Liberian economy, with iron ore leading the way. Revenues from iron ore accounted for nearly half of the country’s earnings prior to 1990. In 2006, ArcelorMittal became Liberia’s first major postwar investor in iron ore, investing $1.7 billion dollars to date.
There are still vast stretches of unexplored and unexploited areas in iron ore, including the Wologizi Mountain. Opportunities also abound in gold, diamonds, and the rehabilitation of latent rubber plantations. Artisanal diamond and gold mining present another opportunity for potential investors, as Liberians currently dominate this sector. Following the lifting of the UN ban on Liberian diamonds and accession to the Kimberly Process, Liberian diamonds are now accepted in international markets and socially acceptable to consumers. In light of this progress, the Israeli Diamond Institute (IDI) has committed its expertise and resources towards helping the government of Liberia develop the diamond sector.