Conakry, Liberia — 11. March 2013 – ArcelorMittal “’ the leader in all major global steel markets “’ has approved plans for phase two of its iron ore mining operations in Liberia which will increase the annual capacity of its iron ore mine from 4Mt to 15Mt by 2015.
This increase in capacity, which will also mean an increase in job opportunities for Liberians, will be accomplished through investment in an iron ore concentrator, expansion of the port facilities in Buchanan, as well as increased use of rail capacity, reports allAfrica.com.
“This is an important step forward for the growth of our mining operations in Liberia, as well as for the development of the country. It is a clear sign that ArcelorMittal is committed to building a world-class mining operation in Liberia and we would like to thank our many stakeholders, including the Government of Liberia, for their continued cooperation and support,” commented ArcelorMittal Liberia CEO Antonio Maria.
Since being the first investor to enter post-war Liberia in 2005, ArcelorMittal has invested over US$1 billion in the development of its operations.
This has included the rehabilitation of the railway from Yekepa and the port facilities in Buchanan, as well as the construction of hospitals and schools in its concession areas.
Phase two will result in further investment in the port, mainly through a new fixed ship loader with a loading capacity of 6,000 to 8,000tph of iron ore; and the construction of a concentrator at the Yekepa mine site which will produce iron ore pellets, enabling ArcelorMittal to increase its production capacity to 15Mtpa.
In addition to these new investments at both the mine site and the port, ArcelorMittal Liberia also recently announced that an agreement has been reached with the government of Liberia to build a 70km road connecting Ganta and Yekepa. The company will provide the US$40 million needed to build the road, and construction is scheduled to begin later this year with an expected completion date in early 2016.
ArcelorMittal is the world’s leading integrated steel and mining company, with a presence in more than 60 countries.
Source: allAfrica.com. For more information, click here.