The Office of Precious Minerals (OPM) operates under the Department of Planning, Research, and Development at the Ministry of Mines and Energy. This specialized unit is dedicated to the valuation, exportation, and regulation of precious minerals, specifically gold and diamonds, in Liberia. The OPM plays a crucial role in ensuring that the government collects a 3% royalty on these valuable resources, which contributes to national revenue.
Structure of the OPM
The OPM is divided into three main sections, each responsible for different aspects of mineral management:
1. Government Diamond Office (GDO)
The GDO focuses on the valuation and exportation of diamonds. This office ensures compliance with national and international standards for diamond trading, facilitating the legal export of diamonds from Liberia.
2. Gold Appraisal Office (GAO)
Similar to the GDO, the GAO is responsible for the valuation and exportation of gold. This office evaluates the quality and worth of gold, ensuring that all transactions are fair and transparent.
3. Diamond Database and Statistics Office
This office compiles and manages all statistical data related to diamonds in Liberia. By maintaining a comprehensive database, it supports informed decision-making and policy development regarding diamond resources.
Services Offered
The OPM also provides essential services to miners and dealers in the precious minerals sector. This includes the issuance of identification cards (ID cards) for miners and brokers at a fee of USD 50.00, while dealer ID cards are available for $100.00. These IDs are crucial for operating legally within the industry.
Licensing Requirements
To engage in the export of diamonds or gold, applicants must obtain the appropriate licenses. Both Liberians and foreign nationals are eligible to apply, provided they meet the following requirements:
Requirements for a Diamond License
• The applicant must be a registered business within Liberia.
• A copy of the business registration certificate must be submitted.
• A partnership agreement or Articles of Incorporation is required.
• The applicant must maintain a minimum bank balance of USD 50,000 as starting capital.
• A performance bond from a recognized commercial bank in Liberia must be provided.
• Copies of the applicant's passport must be submitted.
• The business must include Liberian participation.
• A Diamond Dealer/Export ID Card must be obtained for USD 100.00.
• The applicant is entitled to three agents, each requiring ID cards for USD 100.00.
• The annual fee for a Diamond Dealership/Export License is USD 25,000.
Requirements for a Gold License
• The applicant must be a registered business within Liberia.
• A copy of the business registration certificate must be submitted.
• A partnership agreement or Articles of Incorporation is required.
• The applicant must maintain a minimum bank balance of USD 50,000 as starting capital.
• A performance bond from a recognized commercial bank in Liberia must be provided.
• Copies of the applicant's passport must be submitted.
• The business must include Liberian participation.
• A Gold Dealer/Export ID Card must be obtained for USD 100.00.
• The applicant is entitled to three agents, each requiring ID cards for USD 100.00.
• The annual fee for a Gold Dealership/Export License is USD 5,000.