The Government of the Republic of Liberia and ArcelorMittal have signed an amendment to the Mineral Development Agreement (MDA) which paves the way for the expansion of the company’s mining and logistics operations in Liberia.
With the MDA amendment coming into effect, the ArcelorMittal Liberia will significantly ramp up production of premium iron ore, generating significant new jobs and wider economic benefits for Liberia.
The expansion project – which encompasses processing, rail, and port facilities – will be one of the largest mining projects in West Africa. The capital required to finalise the project is expected to be approximately US$0.8 billion, as it is effectively a brownfield expansion.
The expansion project includes the construction of a new concentration plant and the substantial expansion of mining operations, with the first concentrate expected in late 2023, ramping up to 15 million tpy.
Under the agreement the company will have reservation for expansion for at least up to 30 million t. Other users may be allowed to invest for additional rail capacity.
Read the article online at: https://www.globalminingreview.com/exploration-development/16092021/arcelormittal-signs-landmark-agreement-with-government-of-liberia/