President Joseph Nyuma Boakai, Sr. has inaugurated a US$1.4 billion Concentrator Plant at the Mt. Tokadeh Mining Site in Nimba County, Liberia. Operated by ArcelorMittal Liberia, this facility is one of the largest private sector investments in the country’s postwar history and aims to drive industrial development, job creation, and economic transformation.
During his visit, President Boakai toured the newly completed facility which is set to begin full operations later this month. The plant’s construction began in 2012 but was paused due to the Ebola crisis in 2014 and resumed in 2021 with modern technology and updated engineering designs.
At the inauguration ceremony, President Boakai highlighted the investment as a sign of growing 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,” he stated.
The project has already created over 5,000 construction jobs and is expected to provide 1,000 permanent positions. President Boakai emphasized its economic impact: “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.”
He praised ArcelorMittal Liberia for its vision and resilience while urging further progress on commitments like Railway Expansion, Port Enhancement, and Power Plant Installations. “We commend ArcelorMittal Liberia for this bold and courageous step,” he said.
Corporate Social Responsibility (CSR) was also stressed by President Boakai who encouraged expanding support for education, healthcare, and local commerce: “No doubt, a project of this magnitude must enrich the corporate social responsibility envelope.”
In conclusion, President Boakai thanked all stakeholders involved in realizing this project including engineers, workers, and community members while reaffirming government commitment to maintaining a stable environment for investment: “We want to assure you that the benefits of this Project will be realized by our people.”