Liberian Observer reported that ArcelorMittal has announced in Monrovia that it plans to scale down on its current work force and would retain 1,200 of nearly 3,000 Liberian jobs, while 80% of its large expatriate staff sill be made redundant.

ArcelorMittal offered Liberia's greatest beacon for hope in the country's recovery drive after it signed a USD 1 billion concession to take over mines in Yekepa. Within a few months, the company raised the investment by 50% to USD 1.5 billion.

(Sourced from www.liberianobserver.com)