BUCHANAN, May 23 (LINA) −ArcelorMittal Liberia (AML) continues to make progress with the study to produce and export 30 million tons per annum of iron ore concentrate from its Liberian operations.
As part of this study, drilling and test work commenced in 2021 and to date, 11,150 metres of the 22,700 metres planned have been completed, an ArcelorMittal press release issued Monday said.
It added that AML is also ensuring that the mine, rail, port, material handling and other facilities are designed and constructed in a manner that enables the next expansion phase for 30 million tons per annum capacity.
Mr. Stefan Buys, ArcelorMittal Mining Chief Executive Officer (CEO), said: “ArcelorMittal would like to reiterate its commitment to maintaining and strengthening its strategic partnership with the people of Liberia by creating much needed jobs, supporting community development and contributing to the economic growth of Liberia.
“We also look forward to the ratification of the Third Amendment of the MDA by the Liberian Legislature. ArcelorMittal plans to increase its mineral production in Liberia and expand the infrastructure that is vital to the country, the company and other partners in Liberia’s continued development,” he said.
ArcelorMittal Liberia was the first company to invest in the new Liberia in 2005 and has consistently been a vital component of the country’s economy when it restarted the iron ore mining sector after rehabilitating the mine, township, rail and port infrastructure.
It continued its commitment to the people of Liberia in 2015 when all other iron ore mining activities ceased in West Africa with the twin crises caused by Ebola and a crash in commodity pricing.
ArcelorMittal is the world’s leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 16 countries.
In 2021, ArcelorMittal had revenues of US$76.6 billion and crude steel production of 69.1 million metric tonnes, while iron ore production reached 50.9 million metric tonnes.