ArcelorMittal, a global steel and mining giant, has inaugurated a new iron ore concentrator in Tokadeh, Nimba County, Liberia, marking a significant milestone in the country’s mining history. This state-of-the-art facility, one of the largest of its kind in Africa, forms the centerpiece of a US$1.8 billion expansion project, boosting ArcelorMittal’s total investment in Liberia to approximately $3 billion. The new concentrator will dramatically increase iron ore production from the current 5 million tonnes per year to 20 million tonnes, while also significantly enhancing the quality of the ore to a higher-grade, higher-value product. This expansion project reinforces ArcelorMittal’s commitment to Liberia and its confidence in the country’s future, signaling a positive trajectory for the nation’s economic growth and investment climate.
The inauguration event, attended by Liberian President Joseph Boakai and ArcelorMittal Executive Chairman Lakshmi Mittal, underscored the importance of this project for both the company and the nation. President Boakai lauded the investment as a testament to the improving security and economic stability in Liberia, highlighting the project’s potential to generate thousands of jobs and stimulate economic activity. He emphasized the positive impact on job creation, with 5,000 construction jobs already created and an anticipated 1,000 permanent roles upon completion. Furthermore, the President acknowledged the project’s contribution to corporate social responsibility initiatives, benefiting sectors like health, education, commerce, and employment. He commended ArcelorMittal Liberia for this bold endeavor and encouraged further investment in infrastructure projects, including railway expansion, port enhancements, and power plant installations.
Mr. Mittal echoed the President’s sentiments, expressing his delight at celebrating this milestone in Liberia. He emphasized the long-term significance of the concentrator, securing the future of mining in the country, quadrupling production capacity, and providing sustained employment for thousands of Liberians. He reaffirmed ArcelorMittal’s commitment to Liberia, emphasizing their pride in being part of the community and their dedication to contributing to the country’s economic prosperity. Beyond the concentrator, Mr. Mittal highlighted the company’s substantial investment in infrastructure upgrades, including roads, townships, and power generation, which will have a wider positive impact on the local economy. He expressed gratitude to everyone involved in the project’s success, praising their contribution to Liberia’s future.
The expansion project involved significant investment in supporting infrastructure. The railway connecting Tokadeh to Buchanan port has been upgraded to accommodate the increased production volume, while the port itself has been enhanced with a new pier and upgraded material handling facilities. These infrastructure improvements are crucial for efficiently transporting the increased iron ore output. The project has also generated significant employment opportunities, engaging 5,000 contractors in addition to ArcelorMittal’s existing workforce of 2,000 permanent employees in Liberia. This demonstrates the company’s commitment to local job creation and economic development.
Looking ahead, ArcelorMittal has ambitious plans for further expansion in Liberia. The company is developing plans to increase annual production capacity in phases, targeting 30 million tonnes. Furthermore, they are exploring options to produce Direct Reduced Iron (DRI) quality concentrate. The current expansion project has been strategically designed with future growth in mind, with the upgraded railway already capable of handling 30 million tonnes of iron ore annually. This forward-thinking approach positions ArcelorMittal to capitalize on future market opportunities and further contribute to Liberia’s economic development.
ArcelorMittal operates globally, with a presence in 60 countries and primary steelmaking operations in 15. As the largest steel producer in Europe and a significant player in the Americas and Asia, ArcelorMittal serves a diverse range of industries, including automotive, engineering, construction, and machinery. The company’s commitment to sustainability is reflected in its focus on producing “smarter steels” through innovative processes that reduce energy consumption, carbon emissions, and costs. These cleaner, stronger, and reusable steels are crucial for supporting the development of renewable energy infrastructure and contributing to a sustainable future. With a strong foundation in steel production, innovative employees, and an entrepreneurial culture, ArcelorMittal aims to play a pivotal role in supporting global sustainability efforts. The company is listed on several stock exchanges, including New York, Amsterdam, Paris, Luxembourg, and Spanish exchanges.
