ArcelorMittal Liberia has welcomed the recent fact-finding visit by the Joint Senate Committee on MDA Compliance to its Yekepa Concession, which includes Tokadeh and Yekepa. The company noted that the engagement underscores its commitment to transparency, accountability, and high standards of corporate governance.
The company reaffirmed its full compliance with the Mineral Development Agreement (MDA) and highlighted its ongoing contributions to Liberia’s economic growth, infrastructure development, and community investment. It stated that it remains open to the Committee’s observations and recommendations and looks forward to continued constructive collaboration with all stakeholders.
ArcelorMittal Liberia also addressed misinformation circulating online regarding the cost of its ongoing Phase II Expansion Project, sometimes referred to as the concentrator phase. The company confirmed that the cost of the current phase is approximately US$1.8 billion. This includes the construction of a concentrator plant, major upgrades and expansion of rail and port infrastructure, a new train unloading facility, a tailings storage facility, a 100 MGW power plant at Tokadeh and Buchanan, material handling facilities at both sites, auxiliary infrastructure, and incremental investment to expand operating capacity to 20 million tons per annum of iron ore production.
The company stated that, in parallel, the project is creating substantial local employment for more than 7,500 Liberians, both directly and indirectly, and investing in skills development programmes.
ArcelorMittal Liberia emphasised that this expanded investment reflects its long-term commitment to delivering lasting benefits for Liberia and its people. The company confirmed that the Phase II Expansion remains firmly on track and is being implemented in close partnership with the Government of Liberia and other stakeholders.
