Multinational steelmaker ArcelorMittal has extended its long term agreement with the government of Liberia covering the mining and shipment of iron ore, reinforcing its position as one of the country’s largest foreign investors. The company said on Friday that the extension brings its total investments in Liberia to about $3.5 billion, underscoring the strategic importance of the West African nation to its global operations.
Under the revised agreement, the duration of the existing deal has been extended until 2050, with an option to renew for a further 25 years. As part of the arrangement, ArcelorMittal will pay the Liberian government $200 million for the extension of its mining rights. The deal also secures the company reserved access to critical rail infrastructure, which is essential for transporting iron ore from inland mining sites to export terminals on the coast.
The extension is expected to provide long term certainty for both the company and the Liberian government, supporting continued production, infrastructure development, and employment. ArcelorMittal has played a major role in rebuilding Liberia’s mining sector since the end of the country’s civil war, investing heavily in railways, ports, and community development projects alongside its mining operations.
Liberian authorities have welcomed the agreement as a boost to government revenues and a signal of confidence in the country’s investment climate. The deal is also seen as aligning with Liberia’s broader goal of leveraging its natural resources to drive economic growth, improve infrastructure, and create jobs, while maintaining partnerships with major international investors over the long term.
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