Full Text: On September 24, 2025, Shine Liberia posted on Facebook claiming that in 2024, Bea Mountain Mining Corporation generated US$800 million in gold sales but gave Liberia only US$24 million (approximately 3 percent). The post suggested this was an inadequate return for a country with 5.5 million people.
The post attracted 179 reactions, 48 comments, and 6 shares at the time of this check.
The Liberia Extractive Industries Transparency Initiative (LEITI) is part of the global EITI Standard, which promotes open and accountable management of extractive resources. LEITI operates through a multi-stakeholder arrangement comprising government, civil society organizations, and private companies to improve governance of Liberia's extractive sector.
Verification:The Stage Media contacted Shine Liberia to verify the claim. They referenced a video statement from Senator Crayton Duncan and claimed that Liberia's Mineral Law requires companies to pay 3 percent of "every money earned," calculating 3 percent of US$800 million as US$24 million.
However, this interpretation is incorrect.
According to the Minerals and Mining Law (2000), Section 17.4, Title Mineral Royalties, the law sets royalties at not less than 3 percent and not more than 10 percent, depending on the mineral. The law does not state that companies only pay 3 percent of their total revenues.
The law reads: "There is hereby a royalty on all mineral royalties of not less than three (3) percent and no more than ten (10) percent, except silica sand and building and industrial minerals, which shall not be more than five (5) percent."
A review of the 15th LEITI Report, Section 4.14 (pages 132 & 139), shows that Bea Mountain exported 11,046 kg of gold valued at approximately US$576.4 million in 2021/2022.
According to the report, Bea Mountain's payments to the Government of Liberia, as shown in Table 13: Government Revenues Related to Unsigned Reporting Templates for July 2021 – December 2022, totaled approximately US$33.98 million.
That table shows Bea Mountain Mining, Inc. contributed $33.98 million, representing 26.12 percent of reconciled revenues for that period.
Kaihinneh Sengbeh, Communication, Media, and Public Affairs Manager at the Liberia Revenue Authority (LRA), confirmed to The Stage Media that Bea Mountain contributed US$63,443,008 to the Government of Liberia in 2024 "in all tax kinds."
Conclusion: The claim that Bea Mountain gave Liberia only 3 percent of its 2024 gold sales is misleading.
The 3 percent mentioned in Liberia's Minerals and Mining Law refers to minimum royalty rates, not the total revenue share or comprehensive tax obligations. Official data from the LRA and LEITI demonstrate that Bea Mountain's payments to the government are substantially higher than the figure claimed by Shine Liberia.
