Africa-Press – Liberia. Grand Cape Mount County, April 15, 2026 — Bea Mountain Mining Corporation (BMMC) says it has taken note of growing public debate following the recent visit of Vice President Jeremiah Koung to the company’s operations in Kinjor, Grand Cape Mount County.
In a statement issued on Tuesday, April 14, the management of BMMC said discussions held during the visit covered several issues, including the company’s support to the government in areas such as renewable solar energy and national infrastructure development.
However, it explained that the disclosure of production statistics, particularly monthly gold output, has sparked mixed reactions in the media, with some commentary critical of the company.
BMMC, in its statement, traced its current operations to 2013, when its Mineral Development Agreement (MDA), originally signed in 2001, was amended as the company prepared to move from exploration into full production. At the time, the company was acquired by Aureus Mining Company, a Canadian-registered and London-based firm listed on both the London and Canadian stock exchanges.
Aureus raised approximately US$35 million in equity and secured loans totaling about US$110 million from two South African banks, Nedbank and Rand Merchant Bank, to finance the construction of Liberia’s first commercial gold mine. The investment was described as a milestone in the country’s post-war economic recovery, BMMC said.
Progress on the project, however, was severely affected by the Ebola outbreak, which disrupted operations nationwide and delayed the completion of the New Liberty Gold Mine. With the country viewed as unattractive to investors during the crisis, Aureus struggled to raise additional capital and eventually sold equity in the company after reviews by several potential mining partners.
According to BMMC, this situation posed a risk not only to the project itself but also to the jobs of approximately 1,200 Liberians employed at the mine and to the livelihoods of thousands living in surrounding communities. On July 15, 2016, MNG Gold, Jersey, already operating in Kokoya, Bong County, purchased a controlling interest in Aureus Mining Company, thereby assuming control of BMMC.
The transaction ensured the continuation of a project originally designed to produce about 800,000 ounces of gold over an eight-year mine life, with an average monthly output of roughly 10,000 ounces. At the time, gold prices averaged around US$1,250 per ounce.
According to the company, sustaining the mine beyond its initial lifespan required significant investment in exploration, technology, and expanded capacity. Between 2020 and 2023, BMMC launched a major expansion program to increase production amid steadily rising global gold prices.
The program, valued at more than US$2 billion, included the development of satellite mines in Ndablama and Weaju; construction of 52 kilometers of haul roads to transport ore to the New Liberty processing plant; expansion of processing facilities; acquisition of more than 1,300 additional pieces of mining equipment; and the enlargement of heavy maintenance and ancillary facilities.
In 2025, a fourth satellite mine in the Matambo Corridor was commissioned, raising overall production capacity to approximately 350,000 ounces per year.
BMMC says the expansion has delivered several benefits, including extended mine life, increased employment, and greater local business participation.
The workforce has reportedly grown from about 2,000 employees at the start of operations to nearly 10,000 today, with more Liberians acquiring technical and professional mining skills.
The company also cited increased local procurement of goods and services, such as catering, security, and janitorial work, as well as higher fiscal contributions to the government. With major capital investments already completed, BMMC projects contributions of over US$200 million to the national budget and estimates that its operations could account for more than 25 percent of Liberia’s Gross Domestic Product.
It concluded saying that while Liberia remains a relatively small gold producer in West Africa, BMMC maintains that the sector holds strong growth prospects if supported by a stable investment climate. – Writes Othello B. Garblah
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