ArcelorMittal, the world's top steel maker, is on track to produce between 1.2 million and 1.3 million tonnes of iron ore from its Liberia mine in 2011, exceeding a 1 million tonne target and does not expect a decline in prices to impact the project's planned expansion.

Mr Rajesh Goel CEO of Liberia told Reuters that "We will surpass our official target, from what I see now. We hope to produce 1.2 to 1.3 million tonnes during this year."

The company launched commercial iron ore production in Liberia in September, the first company to do so since the end of 14 years of intermittent civil war in the West African state that ended in 2003.

Mr Goel said that ArcelorMittal is hoping to boost iron ore production from the mine in Nimba County to 4 million tonnes per year starting in 2012 and is studying an expansion that could triple output by 2014 or 2015.

He added that the recent decline in global steel prices is not expected to have an impact on the Liberia project.

(Sourced from Reuters)