Liberian Senate green lights mining deal with Mittal
Rotterdam-based steel giant Mittal Steel announced today that the Government of Liberia approved the Mining Development Agreement with the company. As previously reported by SteelOrbis, Mittal Steel originally announced plans to invest in Liberia in April 2005. The deal will give Mittal Steel access to 1 billion tons of iron ore reserves in western part of the country. The company plans to invest $900 million during the life span of the project. The investment will be used to develop the mines, improve the railway and port infrastructure, and fund community development.