President Joseph Nyuma Boakai, Sr has officially commissioned ArcelorMittal’s US$1.4bn iron ore concentrator plant at the Mt. Tokadeh mining site in Nimba County, Liberia
This facility is the centrepiece of the company’s US$1.8bn expansion programme, which brings its total investment in Liberia to approximately US$3bn — one of the most significant private sector investments in the country since the end of its civil war.
The expansion will see ArcelorMittal boost its iron ore output from 5 million tonnes per year to 20 million tonnes, while also upgrading product quality to higher-grade and higher-value iron ore.
Initially launched in 2012, the concentrator project was put on hold during the Ebola outbreak in 2014. Construction resumed in 2021, incorporating modernised technology and updated engineering.
Full operations at the plant are expected to begin later this month.
“This level of investment is a testament to the growing confidence in the security and wellbeing of our state, and in the positive direction of our investment climate,” said Boakai.
The development has already created over 5,000 jobs during construction and is projected to result in 1,000 permanent roles, along with broader economic gains for the country, he added.
In addition to the concentrator, the wider expansion includes significant infrastructure investments. These include an upgraded railway line from Tokadeh to Buchanan, a new pier at the Port of Buchanan, and enhanced materials handling systems.
President Boakai called on ArcelorMittal to continue progressing with further investment pledges, including railway expansion, port upgrades, and power plant development.
“These projects are essential to deepening Liberia’s integration into global value chains and unlocking long-term benefits for our people,” the president added.
ArcelorMittal executive chairman Lakshmi Mittal was present in Liberia for the inauguration ceremony.
“This state-of-the-art concentrator guarantees the long-term future of mining in Liberia,” he said. “It will quadruple our capabilities from 5 million tonnes to 20 million tonnes, continue to provide jobs for thousands of Liberians and make an important contribution to Liberia’s economic prosperity.”