ArcelorMittal Liberia (AML) has officially launched its transformative Phase II expansion project, ushering in a new era for Liberia’s mining sector and economic development. With an investment exceeding $1 billion, the project is centered around the newly inaugurated state-of-the-art iron ore concentrator in Yekepa, Nimba County—the first facility of its kind in Liberia.
The concentrator is designed to process high-grade iron ore concentrate for export, significantly increasing the value of Liberia’s mineral output. This development is projected to raise AML’s annual payments to the government from $35 million to around $200 million, reinforcing the company’s position as Liberia’s largest taxpayer and foreign investor
Speaking at the launch ceremony, President Joseph Boakai hailed the initiative as a major milestone in Liberia’s development journey. ““This expansion is a vote of confidence in our country’s direction and investment climate. It is already creating over 5,000 construction jobs and will generate 1,000 permanent positions upon completion,” he said. The President remarked.
ArcelorMittal Executive Chairman and CEO, Lakshmi Mittal, reaffirmed the company’s long-term dedication to Liberia, saying, “Liberia is a strategic partner. Our Phase II expansion is a testament to our confidence in this nation and our responsibility to contribute to its development. This concentrator secures the long-term future of mining in Liberia and strengthens our role in the country’s economic development.”
The project will generate over 5,000 construction jobs and 1,200 permanent positions, prioritising Liberian employment and skills development. Significant infrastructure upgrades are also part of the expansion, including the rehabilitation of the 243-kilometer Yekepa–Buchanan railway and enhancements at Buchanan Port to handle increased export volumes.
Host communities will benefit from increased contributions to the County Social Development Fund (CSDF), rising from $3 million to $4 million annually. AML is also investing in education through school construction and scholarships, improving healthcare access in project-affected areas, and implementing environmental stewardship initiatives such as soil reclamation and tree planting.
The company is promoting local business empowerment by sourcing more goods and services from Liberian-owned enterprises. It has also committed to greater community engagement and transparency through regular town hall meetings and investments in local infrastructure like markets and community centers.
AML’s Phase II expansion stands as a game-changer—not only for the mining industry but for Liberia’s broader social and economic development.