Steel and mining company, ArcelorMittal has announced that it will begin producing iron ore from its mining operations located in Liberia. The company made the announcement at a formal launch function, which was attended by prominent dignitaries.
The company aims to export 4 Mt of iron ore annually from Liberia by 2012. The first trial shipment was conducted last week.
Apart from mining activities ArcelorMittal has invested a total of $800 million in Liberian infrastructure such as providing schools, hospitals, roads, ports and railways. All these developmental activities are aimed at involving and serving the local Liberian community and ensuring smooth operations of iron ore mining and shipping. As part of its total investments in the country, the company created a Corporate Responsibility Forum along with Deutsche Gesellschaft Fur Internationale Zusammenarbeit, which is a developmental body from Germany. The main responsibilities of this forum are to ensure that local companies in Liberia and foreign investors follow good business practices and follow corporate citizenship.
The company also employed a group consisting of NGOs, international and local experts to study the biodiversity of the Nimba mountain range in order to control any adverse effect that the industry might have on the environment. ArcelorMittal initially entered the Liberian market in 2005.
Source: http://www.arcelormittal.com/