Liberia Extractive Industries Transparency Initiative (LEITI) Act of 2009.

This Act aims at transparency and accountability in logging, mining, oil and related operations. It establishes an autonomous agency of the Government to be known as the Liberia Extractive Industries Transparency Initiative (“LEITI”). LEITI shall comprise a broad coalition of stakeholders and assist in ensuring that all benefits due the Government and people of Liberia on account of the exploitation and/or extraction of the country’s minerals and other resources are (1) verifiably paid or provided; (2) duly accounted for; and (3) prudently utilized for the benefits of all Liberians and on the basis of equity and sustainability. 

The Governing body of the LEITI shall be the Multi-stakeholders Steering Group (MSG). The sectors of extractive and other natural resources covered by and with- in the scope of the LEITI are: (1) The mining sector; (2) the oil and natural gas sector; (3) the agriculture and forestry sectors; and (4) such other sectors as the MSG may subsequently determine with the consent of the Government. 

In furtherance of fair sharing of forest and mineral revenues, LIETA shall monitor and reflect in its reports, the data (along with the transfer thereof) of all funds that belong to or are due to any community, county, group or institution based on the terms of an applicable concession, contract, or similar agreement or provision of law.