President Boakai Commissions New Mines, Energy, and NOCAL Leadership; Announces Major Shift in Mining Policy

Executive Mansion, Liberia: President Joseph Nyuma Boakai has officially commissioned the new leadership of the Ministry of Mines and Energy and the National Oil Company of Liberia (NOCAL), signaling a major policy shift in the management of Liberia’s natural resources.

Those commissioned include Hon. R. Matenokay Tingban, Minister of Mines and Energy, and Fabian Lai, President and Chief Executive Officer of NOCAL, along with other newly appointed government officials.

Speaking on behalf of the commissioned officials, Minister Tingban pledged full commitment to transparency, accountability, and strict adherence to Liberia’s laws, while aligning their work with President Boakai’s development agenda.

Following the commissioning ceremony, Minister Tingban disclosed a significant change in Liberia’s mining policy. He announced that the government is transitioning from a royalty-based system to an equity-driven mining model.

According to the Minister, the new framework will ensure that Liberia gains direct ownership stakes in mining operations, rather than relying solely on royalty payments from foreign companies.

“This shift is about value, control, and long-term benefit for Liberians,” Tingban said.

As part of the new strategy, the government plans to ensure that mineral resources are processed and refined locally, instead of being exported in raw form. The move is expected to retain more value within the country and strengthen domestic industries.

Minister Tingban also revealed plans to establish a national gold vault at the Central Bank of Liberia, aimed at improving oversight, accountability, and value retention in the gold mining sector.

The Minister emphasized that the equity-based model is expected to:

• Create more jobs for Liberians
• Increase government revenue
• Strengthen national ownership and control over natural resources

The policy shift marks one of the most significant reforms in Liberia’s mining sector in recent years and aligns with the Boakai administration’s broader push for economic reform and resource accountability.

President Joseph Boakai also commissioned Princess Eva Cooper as the first Director General of the Liberia National Tourism Authority (LNTA), following her confirmation by the Senate.

He urged integrity and accountability in service, while Cooper promised to work with stakeholders to promote Liberia’s tourism and create jobs.