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President Boakai and ArcelorMittal Chairman Forge Stronger Ties in Liberia’s Path to Progress

In a statement, President Boakai expressed appreciation for ArcelorMittal’s dedication to Liberia and its people. He emphasized the government's commitment to fostering a conducive environment for continued growth and collaboration, highlighting the prioritization of concluding the Third Amendment to the Mineral Development Agreement (MDA) to ensure sustained partnership with ArcelorMittal.
Pres. Boakai and Mr. Mittal png

By: Wremongar Blojay Joe, II

Liberia: – Monday, April 8, 2024, marked a significant moment in the collaborative efforts between Liberia and ArcelorMittal, as the President of the Republic of Liberia, H.E. Joseph Nyuma Boakai, welcomed Mr. Lakshmi Mittal, the Executive Chairman of ArcelorMittal, the second largest steelmaker in the world, at the Executive Mansion.

This engagement marked the first meeting between Mr. Mittal and President Boakai since President Boakai’s inauguration, and it signifies a pivotal moment in the relationship between the two.

The agenda of their meeting was robust and delved into high-level discussions concerning ArcelorMittal’s operations in Liberia and President Boakai’s ambitious Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism (ARREST) Agenda, aimed at fostering sustainable development across Liberia.

In a statement, President Boakai expressed appreciation for ArcelorMittal’s dedication to Liberia and its people.

He emphasized the government’s commitment to fostering a conducive environment for continued growth and collaboration, highlighting the prioritization of concluding the Third Amendment to the Mineral Development Agreement (MDA) to ensure sustained partnership with ArcelorMittal.

Mr. Lakshmi Mittal reciprocated the sentiment, underscoring Arcelor Mittal’s longstanding commitment to Liberia.

He expressed enthusiasm about the forthcoming expansion project, slated to commence later this year, and stressed its importance in cementing the company’s presence in Liberia and contributing to the country’s economic growth and sustainable development.

Monday’s meeting between President Boakai and Mr. Mittal symbolizes a renewed commitment to collaboration and progress between Liberia and ArcelorMittal Global, in paving the way for a future of shared prosperity and development.

Since ArcelorMittal entered Liberia in 2005, the bond between the company and the nation has been formidable and is characterized by a commitment to mutual growth and progress.

The reopening of Liberia’s mining industry through ArcelorMittal’s initial 5 million tons per annum operation in 2011 provided a substantial milestone in the country’s economic revival from the 14-year civil war.

Looking towards the future, ArcelorMittal has pledged a substantial $1.4 billion investment towards an iron ore concentrator project, which will amplify production to 15 million tons per annum.

This endeavor adds to the company’s total investments in Liberia, which are set to exceed $3.0 billion. Furthermore, ArcelorMittal’s commitment extends to infrastructure development, including substantial investments in the Yekepa-Buchanan rail infrastructure, crucial for economic connectivity.

In alignment with President Boakai’s vision of empowering Liberian youth, Arcelor Mittal reaffirmed its dedication to investing in vocational and technical education which aims at training and equipping 200 skilled youths by 2025, supplementing the 100 who have already graduated.

This initiative, coupled with support to other Technical Vocational Education and Training (TVET) institutes, promises to enrich Liberia’s talent pool and foster socioeconomic advancement.

Integral to Liberia’s socio-economic development is the fight against illicit drug trafficking and consumption to which ArcelorMittal has pledged support to invest in community programs aimed at raising awareness about the risks associated with substance abuse, thus safeguarding the wellbeing of Liberians.

As the largest investor and contributor of direct and indirect taxes in Liberia, ArcelorMittal says it remains committed to creating economic opportunities for Liberians.

This commitment is reflected in job creation, support for local businesses, and participation in critical infrastructure projects such as the refurbishment of the Ganta-Yekepa Highway, a vital economic artery linking neighboring countries Guinea and Cote d’Ivoire.

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