ArcelorMittal Liberia clarifies $1.8 billion expansion costs, welcomes senate oversight visit

Published: September 26, 2025

YEKEPA — ArcelorMittal Liberia has reaffirmed its commitment to transparency and compliance after a high-level fact-finding mission by the Joint Senate Committee on MDA Compliance visited its concession areas in Yekepa and Tokadeh.

In a statement issued Thursday, the company said the engagement demonstrated the importance of corporate accountability and open dialogue with national stakeholders. ArcelorMittal stressed that it remains in full compliance with its Mineral Development Agreement (MDA) and is committed to sustaining its contributions to Liberia’s economy, infrastructure, and communities.

The steel giant also moved to dispel what it called “misinformation” circulating online regarding the cost of its Phase II Expansion Project, sometimes referred to as the concentrator phase.

“For the record, the cost of the currently ongoing phase of the Project is approximately US$1.8 billion,” the statement read. “This includes the construction of a world-class concentrator plant, major upgrades and expansion of rail and port infrastructure, a new train unloading facility, a tailings storage facility, and a 100-megawatt power plant at both Tokadeh and Buchanan.”

The project also covers material handling facilities, auxiliary infrastructure, and incremental investment to increase capacity to 20 million tons per year of iron ore production.

ArcelorMittal Liberia described the expansion as one of the most significant private-sector investments in the country since the end of the civil war. Alongside the infrastructure push, the company said it has created more than 7,500 direct and indirect local jobs and continues to invest heavily in skills development programs for Liberians.

“This expanded investment reflects ArcelorMittal Liberia’s long-term commitment to delivering lasting benefits for Liberia and its people,” the statement added. “We remain firmly on track to deliver the Phase II Expansion, in close partnership with the Government of Liberia and other stakeholders.”

The Senate committee has yet to release its findings publicly, but the visit marks a key moment in ongoing efforts to scrutinize major concessions and ensure alignment with Liberia’s development agenda.