Mittal Steel recently entered into an agreement with the Liberia that gives the company access to about one billion tonnes of iron ore reserves in the western part of the country.
Mittal Steel envisages it would spend US$900 million during the lifetime of the project to develop this ore body. This will cover development of the mines, related railway and port infrastructure and provides means for community development.
Liberia has a long tradition in iron ore mining and used to export more than 15 million metric tonnes of ore a year. Due to its civil the war, the mines were abandoned and most of the infrastructure destroyed.