Steel giant ArcelorMittal (AML) is set to inject $200 million into the Liberian government’s coffers as part of its Phase II expansion plans, marking a significant
milestone in its 20-year operational history in the country.
This anticipated tax revenue surge represents a substantial increase from the previous $35 million generated, reflecting the company’s growing impact on Liberia’s
economy.
The Phase II Expansion Project is designed to ramp up iron ore production from the current 5 million tonnes per annum (MTPA) to an impressive 15 MTPA. This increase is
forecasted to enhance job creation and economic benefits while adhering to responsible mining practices.
“Our relationship with Liberia has been a journey of mutual growth,” stated an AML spokesperson. “As we celebrate two decades of operation in Liberia, we are not just
reflecting on our past contributions; we are doubling down on our commitment to socio-economic development within the communities we operate.”
ArcelorMittal has created over 2,100 direct jobs, with an additional estimated 5,300 indirect positions stemming from its operations. Notably, more than 1,000
Liberians are employed in a single rail remediation project, which underscores the company’s dedication to community employment.
The company’s wide-ranging initiatives extend to education, where AML has facilitated quality primary and secondary education for over 1,000 Liberian children through
its school system. A total investment of $7 million in infrastructure rehabilitation and the offering of tuition-free training with internationally recognized
certifications have further bolstered its commitment to the local workforce.
Additionally, AML has made strides in enhancing local health infrastructure, including upgrades to Buchanan Hospital and the establishment of new hospitals in Nimba
and Grand Bassa County. The company’s community initiatives encompass drug awareness programs, student career fairs, and vital health education campaigns.
A major $800 million investment is also underway for the development of a 243 km heavy haul railway, which will significantly improve the transportation of bulk
commodities and establish an efficient logistics network for mining operations. This railway enhancement is designed to meet US heavy haul standards and aligns with
the Liberian government’s vision for a multi-user rail system on the Buchanan Corridor.
The newly agreed-upon Rail System Operating Principles (RSOP) will ensure that the Liberian government and other rail users receive transparent and non-discriminatory
access, while the Rail Authority will oversee the standardization and inspection of rail operations.
The company aims to solidify its role as a key player in Liberia’s mining sector and act as a catalyst for sustainable economic growth in the region.
