Boakai Cuts Ribbon Dedicating ArcelorMittal’s $1.4B Concentrator -Says “The investment will Touch the Lives of Our people”

MONROVIA – More jobs are seemingly in the offing for Liberians as the country’s arguably biggest postwar concessionaire, ArcelorMittal, has added a lucrative labor-attracting project to its investment – construction of a US#1.4 billion Concentrator. Last week, the company held a dedication of the facility, attracting hundreds of guests, mainly jubilant host communities’ residents. The country’s Chief Executive, President Joseph N. Boakai, was at the colorful ceremonies and while cutting the ribbon, he expressed joy about the project, acknowledging that such as investment “will touch the lives of our people.” THE ANALYST H. MATTHEW TURRY reports.

Liberian President Joseph Boakai  on Thursday, June 5, 2025 dedicated Arcelor Mittal Liberia’s new US$1.4 billion iron ore concentrator plant in Tokadeh Nimba County, marking a major milestone in the country’s mining sector.

The state-of-the-art concentrator is expected to significantly transform Liberia’s iron ore production by enabling the processing of low-grade ore into high-grade concentrate on-site—something that previously had to be done abroad.

Speaking briefly at the dedication ceremony in Tokadeh Nimba County, President Boakai appreciates Arcelor Mittal Liberia who believes in Liberia for the huge investment in the country. 

“The investment will touch the lives of our people. We toured the facility, there are lot of human skills invested in. This investment means a lot to many people,” President Boakai said, adding:  “This is a very joyous occasion, the fact that someone can demonstrate confidence 20 years for such an investment.”

The Liberian leader used the occasion to call on the people of Nimba and Liberian in general to embrace the project.

“We can assure you that whatever comes out of here is for the benefit of the country and the younger generation,” he said. “We want to say thanks to our people who have received and accepted the investment and have given their time.”

An apparently proud Arcelor Mittal Executive Chairman, Lakshmi Mittal, also spoke at the occasion, indicating that the concentrator represents a shift from raw ore exports to value-added processing. It said it would enhance efficiency, increase ore quality, and strengthen Liberia’s position in the global iron ore market.

Lakshmi Mittal said the plant would not only boost export volumes but also would increase revenue, create over 5,000 direct and indirect jobs, and spur local economic growth in Nimba and beyond.

Regarding Arccelor Mittal Liberia’s phase 2 expansion, Executive Chairman Lakshmi Mittal said, “Over 5,000 construction jobs and 1,200 permanent positions are being created, prioritizing Liberian employment and skills development. Government revenue from Arcelor Mittal is projected to rise from $35 million to $200 million annually, bolstering national development efforts.”

Boasting infrastructure development in the phase-two expansion, Mr Lakshmi Mittal said, “Significant investments include enhancing the 243 km Yekepa-Buchanan railway and port facilities, and improving rail transportation and trade efficiency.

On increased County Social Development Fund (CSDF), he said annual contributions to the CSDF are increasing from $3 million to $4 million, providing more resources for community projects in host counties.

He further said in educational support, there would be increased construction of schools and scholarship programs would expand educational opportunities for students in host communities, and under healthcare improvements, there would be increased investments in healthcare facilities and services, enhancing medical access and outcomes in affected areas.

Mr. Mittal also spoke of local business empowerment, an increase in sourcing goods and services locally, which supports Liberian owned enterprises, thereby promoting economic growth within host communities.

Under Environmental Stewardship, he said, there will be implementation of environmental management practices, including soil reclamation and tree-planting initiatives, mitigates the environmental impact of mining activities.

For community engagement in the phase two expansion, Mr Lakshmi Mittal said, “Regular meetings and public forums ensure transparency and responsiveness to local concerns, with investments in community infrastructure like markets and town halls, and under resettlement and livelihood restoration, “AML will enhance financial compensation and livelihood restoration programs, including agricultural support and skills training, to promote sustainable living for individuals affected by mining operations.”

These initiatives underscore Arcelor Mittal Liberia’s commitment to fostering sustainable development and improving the quality of life for Liberians in its operational areas, he concluded.

Nimba County Superintendent Ma Kou Meapeh Gono who also made remarks said the Concentrator is not just an industrial facility; it is a milestone in Liberia development journey.

“The commissioning of the Concentrator plant marks the transition from direct ore exportation to value addition, a key step towards a most robust sustainable and inclusive government,” she said. “We commend Arccelor Mittal Liberia for its vision and long term commitment to Liberia.      

The dedication also signals the start of the next phase of Arcelor Mittal’s expansion, with broader implications for infrastructure development, including rail and port upgrades.

The dedication of the Arcelor Mittal’s $1.4B Concentrator ceremony was graced by VIPs including President Boakai, Vice President Jeremiah Koung, Speaker Richard Koon, and members of the 55^th Legislature, Foreign Dignitaries, Elders of Nimba, Women Organizations, Youth Leaders, amongst others.