ArcelorMittal Extends Iron Ore Agreement with Government of Liberia
On 30 January 2026, ArcelorMittal (AMS:MT) announced that its Mineral Development Agreement (MDA) has been ratified by the Liberian Legislature. The MDA was signed in 2025 and extends the cooperation agreement between ArcelorMittal and the Government of Liberia for a further 25 years up to 2050.
Under the new MDA, the Government of Liberia has decided to end the exclusivity of ArcelorMittal on the Tokadeh-Buchanan railway line and to render it accessible to other users. ArcelorMittal built and enjoyed the railway line under the previous agreement, which was signed twenty years ago. ArcelorMittal owns and operates several iron ore mines around Tokadeh and eyeing Nimba, not too far from the #Simandou iron ore complex in Guinea.
“The agreement will provide a significant boost to Liberia’s economy through increased employment opportunities and enhanced growth in host communities. I believe this new agreement is clear testament to Liberia’s investor friendly climate and the Government’s unwavering commitment to creating an enabling environment for businesses to thrive.”
Liberia President Boakai
i
“Having recently inaugurated our state-of-the-art concentrator, the agreement further cements our long-term presence and commitment to Liberia. We are proud of the positive impact we have had on the country over the last twenty years and look forward to many more years of successful partnership and shared ambition to create sustainable growth and secure long-term benefits for Liberia’s economy and people.”
ArcelorMittal Chair Lakshmi Mittal
To extend the agreement, ArcelorMittal is paying USD 200 million to the Government of Liberia. In addition, ArcelorMittal invested an additional USD 1.8 billion to build an iron ore concentrator. The cumulative Foreign Direct Investment (#FDI) by ArcelorMital now reaches nearly USD 3.5 billion.
Furthermore, ArcelorMittal plans to significantly increase its annual production capacity in Liberia from 5 to 20 million tonnes. In conjunction, the railway to the Buchanan bulk port will be upgraded to support the increased volume from ArcelorMittal and other players. As the pioneer developer of the railway line, ArcelorMittal will be assured of reserved transport capacity as its production ramps up.