ArcelorMittal’s cumulative investment in Liberia is approaching $4 billion, the company’s Liberian CEO announced at a recent mining conference. The commitment is part of the company’s Phase II expansion, which aims to quadruple annual iron ore exports.
The project includes Liberia’s first large-scale iron ore concentrator, which will produce higher-quality products. It also includes an approximately $800 million investment to rehabilitate and expand state-owned rail and port infrastructure.
Iron ore exports were below 5 million tons in 2024. The company expects them to exceed 20 million tons by 2027.