Liberia: President Boakai Inaugurates US$1.4 Billion ArcelorMittal Concentrator Plant in Nimba County
President Joseph Nyuma Boakai, Sr. has officially inaugurated the US$1.4 billion Concentrator Plant at the Mt. Tokadeh Mining Site in Nimba County, operated by ArcelorMittal Liberia.
The facility represents one of the largest private sector investments in Liberia's postwar history and signals a renewed era of industrial development, job creation, and economic transformation.
The President's visit included a guided tour of the newly completed facility which is scheduled to begin full operations later this month.
The plant, originally initiated in 2012, was paused due to the 2014 Ebola crisis. Construction resumed in 2021, integrating modern technology and updated engineering designs.
Speaking at the ceremony, President Boakai welcomed the launch as a strong vote of investor confidence in Liberia's stability and future.
'This level of investment is a testament to the growing confidence in the security and wellbeing of our state, and in the positive direction of our investment climate,' President Boakai remarked. He furthered, 'We are proud to witness this expansion—an achievement that touches the lives of our people and represents progress not just in infrastructure, but in human capacity and national pride.'
The Project has already created over 5,000 construction jobs and is expected to generate 1,000 permanent positions. The Liberian Leader emphasized that the economic impact of such investment is far-reaching.
'This brings great relief to our economy. It's not just about the scale of capital—it's about the thousands of lives being touched, families being supported, and skills being developed,' the President noted.
He commended ArcelorMittal Liberia for its vision and resilience, urging the company to continue advancing its additional investment commitments, including the Railway Expansion, Port Enhancement, and Power Plant Installations.
'We commend ArcelorMittal Liberia for this bold and courageous step, and we encourage continued momentum in all aspects of the company's investment roadmap,' President Boakai said. 'These projects are essential to deepening Liberia's integration into global value chains and unlocking long-term benefits for our people,' he intoned.
He also emphasized the importance of Corporate Social Responsibility (CSR) and encouraged the company to expand its support in areas such as education, healthcare, and local commerce, reinforcing the mutually beneficial nature of sustainable development.
'No doubt, a project of this magnitude must enrich the corporate social responsibility envelope,' he said, adding, 'Our communities must feel the impact not just in employment, but in schools, clinics, and markets.'
President Boakai concluded by extending appreciation to all stakeholders, particularly the engineers, workers, and community members who contributed to the Project's realization. He reaffirmed the Government's commitment to honoring agreements and ensuring a stable environment for investment.
'We want to assure you that the benefits of this Project will be realized by our people,' he said. 'We do not want any disruptions. We are committed to seeing this through—for the good of Liberia and the future of our younger generation,' he said. Distributed by APO Group on behalf of Republic of Liberia: Executive Mansion.
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