Liberia To Review Concession Agreement Signed With ArcelorMittal
The country’s move may risk hampering ArcelorMittal’s plans to boost iron ore production from 5Mtpa to 15Mtpa.
The steelmaker shipped its first iron ore in 2011 from the Yekepa mine. Credit: Bishnu Sarangi from Pixabay.
Liberia plans to launch a review on its iron ore concession agreement with steel and mining company ArcelorMittal, reported Reuters, citing Parliament speaker Bhofal Chambers.
The review will also include other concessions signed by the country’s current and previous governments.
The move may risk disrupting ArcelorMittal’s plans to triple iron ore production from five million tonnes per annum (Mtpa) to 15Mtpa in the West African country, with an investment of $800m.
Last September, the Luxembourg-based steel manufacturing company signed an amendment to the mineral development agreement (MDA) with the Liberian Government
Source: Reuters
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