MONROVIA – The Executive Chairman of ArcelorMittal, Mr. Lakshmi Mittal, is in Liberia to pay a courtesy visit to President Joseph Boakai and to underscore ArcelorMittal’s commitment to Liberia’s economic development.
By Lennart Dodoo
The mining company has been one of the country’s biggest taxpayers since 2005.
Mr. Mittal’s visit to Liberia comes amid the prolonged stagnation of the passage of the company’s amended Mineral Development Agreement which has lingered at the Legislature and the Executive Mansion since 2021.
According to ArcelorMittal Liberia, Mr. Mittal’s meeting with President Boakai holds the promise of charting a course toward continued growth and prosperity for Liberia, underscoring ArcelorMittal’s indelible imprint on the nation’s developmental narrative with its US$2 billion investment in the country.
ArcelorMittal and the government of Liberia on September 10 2021 signed an expansion deal to the Mineral Development Agreement, paving the way for the expansion of the company’s mining and logistics operations in Liberia. Ratification of the MDA became politicized and ended up back with the Executive which was later found to have influenced the return. Observers believe that high on the agenda of discussion between Mr. Mittal and President Boakai would be the resubmission of ArcelorMittal’s MDA, as a major startup and boost adding to the Boakai administration’s first six months’ achievements.
ArcelorMittal’s journey in Liberia is a testament to the transformative power of collaboration and dedication. We remain deeply committed to fostering sustainable development and creating lasting value for Liberia and its people. Together, we will continue to build a brighter future—one defined by prosperity, opportunity, and shared success
Lakshmi Mittal, Executive Chairman, ArcelorMittal
In the words of Mr. Lakshmi Mittal, “ArcelorMittal’s journey in Liberia is a testament to the transformative power of collaboration and dedication. We remain deeply committed to fostering sustainable development and creating lasting value for Liberia and its people. Together, we will continue to build a brighter future—one defined by prosperity, opportunity, and shared success.”
According to the company, central to its engagement in Liberia is youth empowerment, exemplified by the expansion of Vocational and Technical Centers (VTCs), aiming to nurture a skilled workforce crucial for socio-economic progress.
Furthermore, ArcelorMittal’s impact extends beyond job creation to broader economic and infrastructural development, notably seen in projects such as road rehabilitation and upgrades, enhancing connectivity and facilitating trade.
The recent expansion deal to the Mineral Development Agreement (MDA) signed between ArcelorMittal and the Liberian government underscores the company’s long-term commitment to Liberia’s development. This expansion project, expected to deploy approximately $1.2 billion in capital, will significantly increase iron ore production, creating thousands of new jobs and boosting government revenue.
The company has also been involved with infrastructural development such as road rehabilitation and upgrades like the complete pavement of the Ganta-Yekepa Road and the upgrading of the St. John Bridge contribute to enhanced connectivity, facilitating trade and regional integration.
