ArcelorMittal, the world largest steel and mining company commenced commercial iron ore production from its mining operations in Liberia.
A launch event was held in Buchanan which was attended by Her Excellency President Ms Ellen Johnson Sirleaf, Minister of Lands Mines and Energy Mr Roosevelt G Jayjay, Chairman and CEO of ArcelorMittal, Mr LN Mittal as well as ArcelorMittal senior management team.
The launch of commercial mining operations represents an important milestone in the recovery of Liberia economy which was devastated by 14 years of civil war. ArcelorMittal first entered this market in 2005 realising the potential of the country rich mineral resources to facilitate repair of the country industrial and social infrastructure.
Developing a sustainable mining operation in Liberia has necessitated finding solutions to a number of challenges. To date, ArcelorMittal invested 800 million USD in repairing roads and infrastructure whilst also supporting the need for education and healthcare amongst the local population, through projects including the reconstruction of a 240 kilometer railway port, hospital and school facilities developments that will serve local communities as well as enabling the iron ore mining operation to operate efficiently.
By 2012, ArcelorMittal aims to ship 4 million tonnes of iron ore from Liberia each year. A first test shipment successfully took place last week.
Ms Ellen Johnson Sirleaf president of Liberia said "ArcelorMittal was one of the first major companies to enter Liberia after decades of instability. Their coming for which Liberians will always be grateful signalled a major vote of confidence by investors in the leadership and future of our country. ArcelorMittal honoured its 2006 commitment to launch mining operations by the third quarter of 2011. This is a promise the company has kept, despite the global financial crisis that threatened to bring the project to a halt. ArcelorMittal work has improved the lives of many Liberians today and for many years to come. We welcome this excellent partnership. We look forward to an even brighter and prosperous future for ArcelorMittal and for Liberia."
Mr Mittal said "It gives me great pleasure to announce the formal launch of our mining operations in Liberia. Quite apart from the significant impact this will have on the local economy, I'm also proud that our approach to this exciting new market represents best practice in terms of responsible business."
