President Boakai Inaugurates $1.4B ArcelorMittal Plant, Pledges Investment Growth

In a landmark event signaling a new era of industrial revitalization and economic confidence, President Joseph Nyuma Boakai, Sr. officially inaugurated the US$1.4 billion Concentrator Plant at Mount Tokadeh, operated by ArcelorMittal Liberia (AML). This state-of-the-art facility, nestled in Nimba County, is now one of the largest private sector investments in Liberia since the end of the civil war.

The inauguration underscores Liberia’s growing profile as a destination for long-term, high-impact investment and showcases its evolving role within global iron ore markets. With the plant scheduled to commence full operations later this month, stakeholders anticipate broad-based economic dividends and industrial growth.

A Project Years in the Making

Originally conceived in 2012, the concentrator project encountered delays due to the 2014 Ebola outbreak, forcing a pause in construction. Work resumed in 2021, following updated engineering designs and the integration of modern mining technologies that bring the plant in line with global standards.

Now completed, the facility is expected to enhance ore processing efficiency, facilitate the production of high-grade iron ore concentrates, and significantly boost Liberia’s export capabilities.

President Boakai: A Vision of Confidence and Transformation

Speaking at the commissioning ceremony, President Boakai hailed the plant as a “testament to the resilience of Liberia and the enduring confidence of international investors.”

“This level of investment is a strong vote of confidence in Liberia’s stability, our economic policies, and the potential of our people,” President Boakai declared. “We are not just building infrastructure. We are building hope, jobs, capacity, and national pride.”

President Boakai, who toured the facility alongside ArcelorMittal executives and government officials, said the impact of the project extended well beyond capital inflows.

Economic Impact and Job Creation

The Mt. Tokadeh expansion has already yielded more than 5,000 construction jobs, with the plant expected to create over 1,000 permanent employment opportunities in operations, engineering, logistics, and support services.

President Boakai emphasized that the true measure of this project lies in its impact on people’s lives.

“This brings relief to our economy. Families now have breadwinners, young people are gaining skills, and communities are seeing growth,” he said.

He encouraged further local hiring, skill development initiatives, and inclusive growth strategies that will help integrate Liberians into long-term roles across the mining value chain.

Beyond the Plant: A Broader Investment Roadmap

President Boakai called on ArcelorMittal Liberia to continue advancing its additional investment commitments, including:

• Railway Expansion to boost ore transport and regional integration

• Port Enhancement to increase export capacity at Buchanan

• Power Plant Installations to support energy independence and industrial scaling

“We commend ArcelorMittal Liberia for this bold step, but we are equally focused on seeing the full investment roadmap realized,” the President noted. “These projects are not just national infrastructure—they are regional catalysts.”

Corporate Social Responsibility: A Shared Obligation

Highlighting the critical role of Corporate Social Responsibility (CSR), President Boakai urged ArcelorMittal to scale its outreach and deepen its investments in education, healthcare, local commerce, and infrastructure.

“A project of this magnitude must not only benefit shareholders, but it must enrich the lives of our people—through schools, clinics, and market development,” he asserted.

He emphasized the value of sustainable development and community inclusion, adding that corporate success and national progress must go hand-in-hand.

Government Commitment to Investment Stability

In his closing remarks, President Boakai offered gratitude to engineers, workers, community leaders, and investors, acknowledging their vital role in transforming the long-awaited project into a reality.

He reaffirmed the Liberian Government’s commitment to protecting investments, honoring agreements, and fostering a peaceful, enabling environment for both local and foreign businesses.

“We want to assure you that the full benefits of this project will be realized by our people. We are committed to ensuring there are no disruptions—only progress, unity, and shared prosperity,” he concluded.

About the Project

The Concentrator Plant will process iron ore into high-grade concentrate suitable for export, positioning Liberia as a more competitive player in the global steel and ore markets. As part of ArcelorMittal’s Phase II expansion in Liberia, the project will also lead to the development of critical auxiliary infrastructure, including transport and energy systems—laying the groundwork for future industrialization in the country.