GOLDBOD Bill to regulate gold trade and boost reserves laid in Parliament

The Government of Liberia has introduced the Gold and Precious Minerals Regulatory Bill (GOLDBOD) in Parliament, aimed at regulating gold trade and enhancing the country’s mineral reserves. The bill seeks to establish a comprehensive framework for the management of Liberia's gold resources, which could potentially generate significant revenue for the government and create job opportunities within the mining sector. Key objectives include addressing illegal mining activities, improving transparency in transactions, and promoting sustainable practices in gold extraction.

During its presentation, Commerce Minister Wilson Tarpeh emphasized that the GOLDBOD Bill aligns with Liberia's commitment to responsible resource management. The proposed legislation is expected to create a structured licensing process for miners and traders, ensuring compliance with international standards. Additionally, it aims to foster partnerships between local communities and mining companies to support socio-economic development. By implementing these measures, the Liberian government hopes to position the nation as a competitive player in the global gold market while safeguarding its natural resources.