ArcelorMittal Plans to Expand Mining and Logistics Operations in Liberia

SEATTLE (Scrap Monster): Luxembourg-based integrated steelmaker ArcelorMittal announced that it has signed an amendment to the Mineral Development Agreement (MDA) with the Government of Liberia. This will expand the company’s mining and logistics operations in the West African country.

The company anticipated capital investment of approximately $0.8 billion towards the expansion project, which comprises processing, rail and port facilities. Incidentally, ArcelorMittal Liberia has invested in excess of $1.7 billion in Liberia over the past decade and a half.

The Liberian unit of the company will witness significant ramp up in production of premium iron ore, which in turn will not only contribute significantly to the country’s economy, but also create thousands of new jobs. The construction phase alone is likely to generate nearly 2,000 jobs, with majority of them likely to be filled by locals. As part of the project, the company intends to construct a new concentration plant, with first concentrate production expected by late-2023.

The investment demonstrates the company’s commitment to providing employment and professional development opportunities to Liberians. It will further exemplify Liberia’s reputation as an attractive country to invest in.

YOU MAY ALSO BE INTERESTED IN:

ArcelorMittal Nippon Steel Commenced Iron Ore Mine Operations

ArcelorMittal Green Steel Plant Received Funding of €55 million