ArcelorMittal to lower iron ore exports from Liberia

Published: Nov 19, 2015 08:51

Save

ArcelorMittal Liberia will cut as many as 450 jobs. The company has also decided to reduce the iron ore exports out of the country.

By Paul Ploumis (ScrapMonster Author)

November 18, 2015 01:01:06 PM

ArcelorMittal Liberia will cut as many as 450 jobs. The company has also decided to reduce the iron ore exports out of the country.ArcelorMittal to lower iron ore exports from Liberia

EDGWARE (Scrap Monster): ArcelorMittal Liberia has decided to cut around 450 jobs in the West African nation of Liberia. Further, iron ore exports from the country will be lowered. The decision regarding job cuts has already been informed to the union leaders, the company noted. The move is considered to be part of the company’s cost cutting measures.

In an email statement, Michel Prive, CEO, ArcelorMittal Liberia noted that the company is finding it extremely difficult to maintain current level of employment and has decided to slash almost 450 jobs. In addition, the company has also decided to operate only during the dry season from 2016 onwards. The company had operated during both the wet and dry seasons before, shipping around 5 million tonnes of direct shipping ore per annum to European markets and China. However, from 2016, the company plans to reduce the shipment to 3 million tonnes per annum. Also, exports will be limited to European markets, it noted.

ArcelorMittal owns the Tokadeh Mountain mine in the West African country, which is considered to be massive heap of high quality iron ore, situated near the town of Yekepa. The tested ore is transported by rail to Buchanan, from where it is shipped out of Liberia.

The company had initial plans to expand its Liberian operation by raising the annual ore production to around 15 million tonnes by end-2015. However, with the outbreak of deadly Ebola epidemic in 2014, contractors working on expansion projects had declared force majeure.

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and an industrial footprint in nineteen countries. It was formed in 2006from the takeover and merger of Western European steel maker Arcelor by India-based Mittal Steel. The company is headquartered in Luxembourg.

iron ore exports

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 23:56

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

Feb 6, 2026 23:56

Feb 6, 2026 23:54

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

Feb 6, 2026 23:54

Feb 6, 2026 23:47

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

Feb 6, 2026 23:47