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ArcelorMittal restarts iron ore mining in Liberia

Tuesday, 07 June 2011 17:14:16 (GMT+2)   -  

Tags: iron ore , raw mat , Liberia , Africa , ArcelorMittal , investments , mining , West Africa | similar articles » SteelOrbis News

On July 7, a senior official from ArcelorMittal, the world's largest steelmaker, stated that the company has started production at its $1.5 billion iron ore mine in Liberia after a suspension of work since last year, Reuters news agency has reported.

ArcelorMittal is developing its Mount Nimba iron ore project in Liberia, as well as the $2.2 billion Faleme mine in Senegal, where exploration is still ongoing as it moves into production.

Meanwhile, Ian Cope, ArcelorMittal's global exploration manager for iron and coal, stated that the ongoing political risk in the Democratic Republic of Congo, where the high-grade Kilo-Mojo iron ore resource was found, was not a factor deterring investors anymore. He also stated that African projects are only expected to contribute less than five percent of a projected 47 percent growth in global iron ore demand by 2020.

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