The Government of Liberia has ratified the amended Mineral Development Agreement (MDA) signed with Luxembourg-based steel producer ArcelorMittal, extending the agreement until 2050 with the possibility of a further 25-year extension, the manufacturer announced.
The agreement coincides with the recent opening of the ArcelorMittal iron ore processing plant at Tokada in Nimba County. ArcelorMittal said the new hub represents a core element of its $1.8 billion expansion program in Liberia, bringing the company's total investment in the country to $3.5 billion, the largest foreign direct investment in Liberia's post-war economy.
ArcelorMittal promotes its investments in Liberia
According to ArcelorMittal, the expansion project included significant upgrades to the railway corridor connecting Tokade to Buchanan, improvements to the port infrastructure in Buchanan, including the construction of an additional berth, and broader infrastructure investments such as two power plants.
The company said the project is nearing completion and iron ore shipments are expected to increase from historical levels of about 5 million tons per year to 20 million tons in 2026. ArcelorMittal added that the expansion will also improve product quality, allowing for higher-quality and higher-value-added iron ore production. In parallel, ArcelorMittal has confirmed that feasibility studies are currently underway to evaluate
