ArcelorMittal Liberia celebrates its 20th anniversary with a $2 billion Phase II Expansion Project, intending to boost iron ore production from 5 MTPA to 15 MTPA. The initiative includes substantial infrastructure upgrades and promises to create thousands of jobs while significantly impacting the local economy. CEO Michiel Van Der Merwe emphasizes the company’s commitment to responsible mining practices and community development as part of its future operations.
ArcelorMittal Liberia (AML) is commemorating its 20th anniversary in Liberia with the announcement of a substantial investment exceeding $2 billion for its Phase II Expansion Project. This strategic initiative aims to increase iron ore production from 5 million tonnes per annum (MTPA) to 15 MTPA, culminating in the creation of thousands of jobs and bolstering the nation’s economic status. Additionally, it encompasses a significant infrastructure investment, particularly an $800 million upgrade to the heavy-haul railway system in Liberia.
During a recent celebration in Monrovia, CEO Michiel Van Der Merwe emphasized that 2025 will mark a significant operational year for AML in Liberia, reflecting the company’s long-standing commitment and sense of belonging within the nation. The company recognizes its pivotal role in transforming Liberia into a central player in the global iron ore market while adhering to responsible mining practices alongside community development initiatives.
The expansion plans include commissioning a concentrator, which is essential for maximizing the return on investments made over the past two decades. Van Der Merwe also highlighted the bold ambition of transporting 20 million tons of iron ore annually, necessitating enhancements to the railway infrastructure. The company’s initiatives are expected to yield over 5,000 jobs during the construction phase and 1,200 permanent positions post-completion.
Established in 2005, ArcelorMittal Liberia has played an integral role in revitalizing Liberia’s mining sector following civil unrest. The organization has invested approximately $2.5 billion in restoring vital infrastructure, such as the Buchanan-Yekepa railway, which were damaged during conflict. Through ongoing investments and commitment to the local economy, the company aims to solidify Liberia’s position within the regional iron ore industry.
Further structural enhancements are underway encompassing the modernization of the 243-kilometer railway, which has been developed to U.S. standards. Proposed upgrades will facilitate the operation of five ore wagon trains each carrying 120 wagons daily. AML is also endorsing the Government of Liberia’s Rail System Operating Principles for transparent rail operations and has committed to supporting local communities through scholarship programs and vocational training initiatives.
AML’s extensive investment will create significant economic value, including new permanent positions and a rise in government revenues from $35 million to $75 million annually. The company remains the largest private sector employer in Liberia, with a commitment to fostering education, skills training, and workforce development within the communities it serves.
The Phase II Expansion is anticipated to be one of the largest mining ventures in Africa. As preparations are made for the first iron ore shipment to depart Buchanan in 2025, ArcelorMittal Liberia is steadfast in its dedication to stimulating economic growth, job creation, and sustainable development throughout Liberia.
In conclusion, ArcelorMittal Liberia’s Phase II Expansion represents a significant milestone in the company’s commitment to enhancing Liberia’s iron ore production capabilities. The investment not only promises extensive job creation and revenue growth but also reflects the company’s dedication to responsible mining practices and community support. By modernizing essential infrastructure and investing in education and workforce development, AML is poised to strengthen Liberia’s position in the global mining sector and contribute positively to the nation’s economic landscape.
Original Source: frontpageafricaonline.com
