New MDA Locks ArcelorMittal Through 2050 -Liberia Secures Expansion, Revenue Growth

MONROVIA – Liberia has taken one of its most consequential investment decisions since the end of the civil war, formally locking in a long-term partnership with ArcelorMittal that will shape the country’s mining, infrastructure, and export profile for decades. With the ratification and signing of a new amendment to the Mineral Development Agreement (MDA), the Government of Liberia has extended ArcelorMittal’s operating horizon to 2050, with an option for a further 25-year renewal. The agreement comes amid rising global demand for iron ore and positions Liberia as a strategic mineral hub in West Africa, while reopening long-running debates about value capture, infrastructure access, and national development outcomes.

The Government of the Republic of Liberia and ArcelorMittal have formally signed an amended Mineral Development Agreement (MDA), extending the life of the concession to 2050, with an option for a further 25-year renewal.

The agreement was ratified by the Liberian Legislature and signed shortly thereafter, marking a major milestone in Liberia’s post-war investment and extractive-sector governance.

The amended agreement solidifies ArcelorMittal’s long-term commitment to Liberia and underpins a major expansion of its mining operations, infrastructure footprint, and export capacity.

It also responds to a central policy objective of the Government of Liberia: opening the Tokadeh–Buchanan rail corridor to multi-user access, while protecting the integrity of infrastructure financed by the concessionaire.

The signing follows the recent inauguration of ArcelorMittal’s iron ore concentration facility at Tokadeh in Nimba County—one of the largest and most technologically advanced iron ore beneficiation plants on the African continent.

The facility sits at the core of ArcelorMittal’s US$1.8 billion expansion project and brings the company’s total investment in Liberia to approximately US$3.5 billion, the largest foreign direct investment in the country’s post-conflict economy.

Beyond the concentrator, the expansion has included major upgrades to the Tokadeh–Buchanan railway, port improvements in Buchanan—including construction of an additional berth—and the installation of two power plants to support mining and processing operations. Together, these investments significantly enhance Liberia’s industrial and logistics capacity.

Once fully operational, the expansion will raise iron ore shipments from historical levels of about five million metric tonnes per annum to 20 million metric tonnes in 2026, alongside improvements in product quality toward higher-grade, higher-value ore. ArcelorMittal has also commenced feasibility studies for a further expansion beyond 20 million metric tonnes per annum.

Under the terms of the amended agreement, ArcelorMittal will pay the Government of Liberia US$200 million for specific rights acquired, including the extension of mining rights and reserved access to rail capacity that the company itself is financing.

The agreement provides for a structured multi-user framework under which other potential users of the rail corridor may gain access, provided they invest in the necessary expansion to meet their transportation needs. ArcelorMittal is currently upgrading the railway to handle up to 30 million metric tonnes annually, with that additional capacity reserved for the company should further expansion proceed.

Commenting on the agreement, Joseph Nyuma Boakai described the deal as transformative for Liberia’s economy.

“ArcelorMittal Liberia is one of Liberia’s largest private-sector investors and a leading employer in the country. I welcome this Third Agreement to the concession agreement, which will unlock a major expansion of ArcelorMittal Liberia’s operations, with production increasing to 20 million metric tonnes and projected to grow to 30 million metric tonnes,” President Boakai said.

He added that the agreement establishes an independently operated railway from October 2030, strengthening efficiency, promoting multi-user access, and deepening the overall economic impact of the concession.

“The agreement will provide a significant boost to Liberia’s economy through increased employment opportunities and enhanced growth in host communities. It is a clear testament to Liberia’s investor-friendly climate and our commitment to creating an enabling environment for businesses to thrive,” the President said.

ArcelorMittal Executive Chairman Lakshmi Mittal described the agreement as a defining moment in the company’s relationship with Liberia.

“This agreement represents a defining moment for both Liberia and ArcelorMittal. I thank President Boakai and his administration for their commitment to this partnership, which reinforces Liberia’s role in Africa’s mining sector,” Mittal said.

“Having recently inaugurated our state-of-the-art concentrator, this agreement further cements our long-term presence and commitment to Liberia. We are proud of the positive impact we have had over the last twenty years and look forward to many more years of shared growth and ambition.”

Over the past two decades, ArcelorMittal has become one of Liberia’s largest employers and taxpayers, providing direct and indirect employment to approximately 8,000 people and investing in housing, healthcare, and education initiatives in host communities.

Government officials say the amended agreement is expected to deliver rising royalties, taxes, and export earnings over the next 25 years and beyond. The projected quadrupling of output in 2026 is expected to boost GDP, expand local procurement opportunities, and stimulate the growth of small and medium-sized enterprises across the country.

As Liberia seeks to balance investor confidence with national interest, the new MDA sets the stage for a decisive phase in the country’s extractive-led growth strategy—one whose long-term success will ultimately be measured by how effectively expanded production translates into jobs, infrastructure, and shared prosperity.