Monrovia, Liberia – ArcelorMittal Liberia has confirmed its adherence to the Mineral Development Agreement and welcomed a recent visit from the Senate Committee on Mineral Development Agreement (MDA).
The involvement demonstrates the company’s dedication to openness, responsibility, and the best standards of corporate governance with the goal of supporting Liberia’s infrastructure development, community investment, and economic expansion.
“We remain open to the Committee’s observations and recommendations and look forward to continued constructive collaboration with all stakeholders.”
In addition, the company dispels false information that has been circulated on the internet regarding the price of its ongoing Phase II Expansion Project. In Liberia, the Phase II Expansion Project is among the biggest private sector investments after the war. For the record, the project’s current phase is estimated to be costing US$1.8 billion.
It comprises building a world-class concentrator plant, upgrading and expanding port and rail facilities, building a new train unloading facility, building a tailings storage facility, and building a 100 MGW power plant at Tokadeh and Buchanan.
Additional resources include material handling facilities in Buchanan and Tokadeh, including related auxiliary infrastructure, and incremental investments to increase operating capacity for the production of 20 million tons of iron ore annually.
ArcelorMittal Liberia’s long-term dedication to providing long-term advantages for Liberia and its citizens is reflected in this increased investment.
Additionally, Arcelormittal is investing in skill-development initiatives for Liberians and directly and indirectly generating significant local job possibilities for over 7,500 Liberians.
“We remain firmly on track to deliver the Phase II Expansion, in close partnership with the Government of Liberia and other stakeholders.”
