Africa Metallic Resources Endorses Government Decision To Fast Track The Putu Mining Project For Immediate Release

Monrovia – Africa Metallic Resources Inc. (AMR), a Liberian led consortium, won a competitive evaluation process and was recently selected by the Government of Liberia as the preferred developer for the acquisition and development of the Putu Iron Ore Mining (PIOM) asset, welcomes and fully endorses the Government’s decision to establish a dedicated committee to expedite the development of the project and the completion of the transaction process.

This decisive intervention reflects a clear recognition of the strategic importance of the Putu  asset and the need to translate policy intent into timely execution. AMR further commends the Government of Liberia for its forward-looking policy direction aimed at promoting indigenous participation, local ownership, and sustainable value creation within the extractive sector.

The selection of AMR followed a rigorous and transparent evaluation process, through which the Company demonstrated strong technical capability, credible financial backing, and alignment with national development priorities.

This outcome represents a deliberate shift toward ensuring that Liberia’s natural resources deliver tangible and lasting benefits to its citizens. At the core of AMR’s development approach is a commitment to meaningful local ownership and participation in large-scale mining operations. As a Liberian-led enterprise backed by the Conex Group, AMR is positioned to advance a model that prioritizes domestic value retention, strengthens local content participation, and builds national capacity across the mining value chain.

This approach is underpinned by government-free carried equity participation, ensuring direct sovereign benefit, and broad-based ownership through the proposed subscription of shares by ordinary Liberians, enabling inclusive economic participation. In parallel, AMR is committed to value addition and beneficiation, transitioning from raw exports toward industrialization and downstream processing.

This integrated model also includes the incorporation of Liberian businesses into procurement processes, the development of skilled local labor, and the creation of sustainable, long-term employment opportunities.

Notably, these elements- government-free carry, broad-based Liberian ownership, and a clear value addition strategy- were significantly absent from competing proposals, further reinforcing AMR’s unique alignment with national development priorities and long-term economic transformation objectives. 

AMR’s strategy emphasizes value addition and beneficiation, transitioning from raw exports to industrialization and downstream processing. This approach will strengthen economic linkages, increase fiscal revenues, and support structural transformation within the Liberian economy. In parallel, AMR is committed to inclusive community engagement, ensuring direct benefits through employment, infrastructure, and social development. The Putu Project, therefore, represents a transformative opportunity to drive broad-based growth, generate significant export revenues, create over 20,000 jobs, and deliver critical infrastructure, including roads, railways, power systems, ports, and essential social services.

AMR is supported by a consortium of globally recognized partners, including the Africa Finance Corporation (AFC), a strategic partner of the U.S. International Development Finance Corporation (DFC), as a core financing partner. AFC brings extensive experience in structuring and financing large-scale mining and infrastructure projects across Africa, reinforcing the project’s bankability and execution credibility.

This is complemented by leading international technical partners, ensuring delivery to global standards of governance, sustainability, and operational excellence. The Company also recognizes and appreciates the leadership of the Government of Liberia, particularly its efforts to expedite the process through coordinated institutional mechanisms.

This approach reinforces investor confidence, enhances policy coherence, and signals a strong commitment to ensuring that the Putu Project moves forward without unnecessary delay. Africa Metallic Resources Inc. (AMR) is a Liberian-owned mining and infrastructure development company and an affiliate company of the Conex Group.

The Company was established to originate, acquire, and develop large-scale mineral and infrastructure assets across Liberia and West Africa. Backed by strong financial and technical partnerships, AMR is positioned to deliver world-class mining projects that drive economic transformation, infrastructure development, and sustainable growth. The Conex Group, headquartered in Liberia, operates across West Africa with a strong track record in energy, logistics, and infrastructure development.