ArcelorMittal, Liberia extend mineral development agreement until 2050

ArcelorMittal, the world's second-largest steel producer based in Luxembourg, and the Liberian government have signed an amendment to their existing Mineral Development Agreement (MDA), extending the duration of the agreement to 2050, according to the company's latest press release.

Under the terms of the agreement, ArcelorMittal will pay $200 million to the Government of Liberia in exchange for specific rights, including the mining rights extension and reserved access to railroad capacity the company is investing in. The signing of this agreement coincided with the recent inauguration of ArcelorMittal's iron