The Ministry of Mines and Energy (MME), and the Financial Intelligence Agency (FIA) of Liberia, have held a one-day intergovernmental risk assessment workshop on Dealers in Precious Metals and Stones (DPMS) and High-Value Items (HVIs).
Held at the Mines and Energy Ministry on Wednesday, September 3, 2025, and attended by stakeholders in the mineral sector as well as government officials, sector regulators to assess the risks of illicit financial flows, money laundering, and terrorist financing linked to Liberia’s mineral and high-value commodities.
Detailing the purpose of the workshop, Deputy Minister for Operations, William Hines, emphasized the importance of building stronger institutional safeguards to protect Liberia’s mineral sector from criminal abuse.
He noted that the main focus of the workshop was compliance and ensuring that Liberia’s vast natural resources contribute meaningfully to national development.
Mohammed Nasser, Officer-in-Charge of the FIA, described cross-border movement of illegal money, illicit financial flows, and suspicious transactions as critical threats undermining Liberia’s economic integrity.
“Liberia is currently flagged in red,” Nasser revealed, while expressing gratitude to German development partner – GIZ for its technical support.
The FIA’s Officer-in-Charge also lauded the Ministry of Mines and Energy for its partnership in convening the forum.
For his part, The Minister of Mines and Energy, Wilmot Paye, premised his remarks on how crucial risk assessment is, especially for artisanal and small-scale mining operations he described as “vulnerable to misuse for illegal purposes.”
Minister Paye then announced that twenty geologists and county staff are currently being processed for deployment across Liberia to strengthen oversight at the county level.
The Mines and Energy Minister further disclosed that the Ministry is transitioning to a fully digital licensing system, adding that sensitization and awareness will remain key to curbing malpractice in the mining sector.
Minister Paye commended GIZ, and other partners who have dedicated attention and support to working along with the Liberian Government to discourage acts inimical to keeping the mining sector vibrant and properly regulated.
Highlighting the urgency of the issue, officials cited global statistics showing that Africa loses an estimated Eighty Eight Billion United States Dollars annually to illicit financial flows, with gold alone accounts for seventy seven percent.
The workshop featured a series of technical presentations, providing expert-analyses and insights about the negative impacts of money laundering, terrorist financing, and proliferation financing.
Participants who were drawn from across the mineral sector including traders and owners of jewelry enterprises were drilled through several topics of risks in their lines of mineral business and the need to carry out assessment to keep the sector clean and promote revenue generation for national development.
The initiative forms part of Liberia’s ongoing reforms to strengthen transparency and align with international standards such as the Financial Action Task Force (FATF) recommendations.
By reinforcing safeguards against financial crimes in the mining value chain, the government aims to ensure that natural resources serve as a driver of sustainable development rather than a channel for criminal acts.
