Liberia has approved an extension of ArcelorMittal’s Mineral Development Agreement, allowing the global steelmaker to continue mining operations in the country until 2050, with an option for a further 25-year renewal. The amended deal, ratified by Liberia’s legislature, was disclosed in Reuters reporting as part of efforts to secure long-term investment in the mining sector.
Under the revised agreement, ArcelorMittal will make an upfront payment of $200 million to the Liberian government and retain exclusive access to key rail infrastructure linking its iron ore concession at Tokadeh to the port of Buchanan. Details outlined by Reuters show the extension supports the company’s ongoing $1.8 billion expansion programme, lifting its total investment in Liberia to about $3.5 billion.
The expansion is expected to significantly raise iron ore production, increasing annual output from around 5 million tonnes to 20 million tonnes by 2026, with feasibility studies underway to scale capacity further. Infrastructure upgrades tied to the agreement include improvements to rail lines, port facilities and power systems to accommodate higher export volumes.
Liberian authorities say the deal will boost government revenue, create jobs and stimulate broader economic activity, while reinforcing the country’s position as a key iron ore exporter. Company executives described the agreement as a long-term commitment to Liberia’s mining industry, a position reflected in statements cited by miningweekly.
