Liberia: Boakai, Mittal Launch $1.8bn Iron Ore Plant in Nimba

Tokadeh — President Joseph Nyuma Boakai and ArcelorMittal Executive Chairman Lakshmi Mittal inaugurated a major iron ore plant in Liberia. This state-of-the-art concentrator has a capacity of 20 million tonnes. It is located in Tokadeh, Nimba County.

This event marks the official start of ArcelorMittal Liberia's $1.8 billion Phase Two expansion project. The total investment in Liberia now reaches about $3 billion since operations began two decades ago.

During the ceremony, President Boakai called the project a game-changer for Liberia's economy. He noted that this expansion shows growing confidence in Liberia's security and stability. The project will create over 5,000 construction jobs and 1,000 permanent roles.

Boakai also highlighted the long-term benefits of ArcelorMittal's presence in Liberia. He mentioned potential improvements in health, education, and commerce through corporate social responsibility programs.

The new concentrator will increase iron ore output from 5 million to 20 million tonnes annually. It will also improve ore quality significantly. To support this production increase, ArcelorMittal is upgrading infrastructure, including the railway from Tokadeh to Buchanan.

They are constructing a new pier and building modern material handling systems at Buchanan port.

Mittal praised the strong partnership between his company and Liberia during the inauguration event. He stated that this concentrator ensures the future of mining in Liberia.

"It will quadruple our capabilities," he said, "provide jobs for thousands, and boost economic prosperity." Mittal credited stakeholders for their collaboration on this project.

He reaffirmed ArcelorMittal’s commitment to Liberia over the past 20 years. The company has improved infrastructure and power supply while supporting local communities.

Currently, ArcelorMittal employs 2,000 Liberians permanently and has brought in an additional 5,000 contractors for this expansion phase. They are exploring plans to raise capacity to 30 million tonnes annually with upgraded railways designed for such volume.

The broader vision includes producing Direct Reduced Iron (DRI) concentrate to position Liberia as a key player in global steel supply amid rising demand for greener production methods.

This inauguration comes just weeks after ArcelorMittal celebrated its 20 years of operations in Liberia. This milestone highlights two decades of economic engagement and community development.

The Boakai administration aims to attract sustainable foreign direct investment. Thursday’s event served as both a diplomatic and economic endorsement of that agenda.