Post on 01-Jan-2016
Session 3: Energy & Extractives
A Presentation by A Presentation by
Hon. Samuel RussHon. Samuel RussDeputy Minister of Lands, Mines and EnergyDeputy Minister of Lands, Mines and Energy
Republic of LiberiaRepublic of Liberia
Concession energy demand is 700MW but current supply less than 20MW creating huge investment opporunity
Huge returns to possible: Liberia has highest energy tariffs in world (56 cents per kwh) Hydropower to access huge potential of Liberia’s waterways:
◦ internal renewable water resources are second in West Africa only to Guinea & Nigeria Mount Coffee hydro power generation - transmission & distribution of power lines due on stream in December 2016 (up to 70 MW)
Many Investment Opportunities available in: ◦ Biofuels from oil palm and rubber wood – 500 MW Potential◦ Hydro plants – 1,000 MW Potential on St. Paul, St. John & Lofa rivers◦ Solar ◦ HFO◦ Construction of National Power Grid
Clients: 4 million people many of whom rely on generators plus numerous concessions in agriculture, mining, ports
Central grid due to be connected to West Africa Power Pool in 2018
- Basic services restored in Monrovia-30,000 connections-22 MW installed-Most electricity self-generated
Micro hydro plant constructed – to support 3000+ rural connections
Cross-border purchase of electricity from Cote d’Ivoire, expected to support 20,000+ connections in areas along border
Generation3 X Heavy Fuel Oil (HFO) Plants under construction – 38 MW capacity (~$60 M)Mount Coffee Hydro Plant (80 MW) – Rehabilitation underway( ~$300M)
T&D7 distinct transmission line projects4 distribution projects (~200,000 connections)CLSG Line: $500 MT&D projects in Liberia: ~$250M
$1.2 bn worth of projects to be implemented in next 5 years, with funding secured.
Generation (Renewable)$50 M available for development of renewable energy, especially small-scale hydro and solar (in preparation).
WOLOGISI-1BT
@36%Fe
WESTERN CLUSTER
563Mt@53%fe
CHINA UNION – 1.05 BT@36%fe
GOE-FANTRO 64MT
@59%FePUTU -4.5
BT @39%Fe
KITOMA 64MT@61%fe
ARCELOR MITTAL
471Mt@67%fe
TAWANA62Mt
@64%fe
BAO CHICO
• 3 Age Provinces in Liberia • Liberian (Archeaen-Meta
Volcanic)• Eburean Formations• Pan-African (youngest)
• Iron formation occurs across all age provinces
• Iron formation commonly associated with composite rock units; schist, mafic, felsic & ultramafic units
• All major deposits occur within Liberian & Eburnean provinces except Goe-Fantro which occurs within Pan-African
• Gold occurrences are widespread
• Gold production is dominated by ASM activities
• One mechanized gold mine: Aureus Mining: 1.5Moz @3.8g/t
• MNG Gold: 750k ounces @1-3g/t
• Hummingbird:• Tuzon 2.47 Moz @1.4 g/t• Dugbe 1.8 Moz @ 1.3g/t
Aureus Mining
MNG Gold
Hummingbird
Copper, Lead , Barite, Bauxite, Kyanite, Phosphate, Platinum, Manganese, Uranium, Chromite, Corundum, Nickle etc
3 distinct kimberlite diamond clusters have been identified in Western Liberia:•Kumgbor cluster ~ 135Ma•Weasua cluster ~ 800Ma•Mano Godua cluster ~ 135Ma
Drafting of New Minerals & Mining Law & Regulations
Separate Mining Law and Regulations to govern Artisanal & Small-Scale Miners
Formalization of Artisanal & Small-Scale miners into cooperatives
2D seismic data (PSTM/PSDM):24,773 km 2D gravity/magnetic data: 24,508km 2D angle stacks: 24,774km 3D seismic data (PSTM/PSDM):18,345km2
3D angle stacks: 18,345km2
Updated Interpretation report (2010) Well Data from nine recently drilled wells
Construction of refinery/refineries◦ Refine petroleum crude oil◦ Process & purify raw natural gas
Management of Refineries Marketing & Distribution of crude oil products Storage & Transportation of crude oil & natural gas
Reform program almost complete Establishes investor friendly climate Reform to measure up to international standards began in 2011 Considered national views & international best practices Redrafted new E & P law
◦ Creates stable, enhanced legal climate: Maintains stable, favorable tax regime Clear, predictable rules for licensing, contracts, environmental
& social provisions Independent regulator (Petroleum Directorate) Enhanced transparency
Developed new model production sharing contract