Nimba (Yekepa) Phase 2 iron ore mine

Nimba (Yekepa) Phase 2 is the expansion of ArcelorMittal's Liberia's DSO operation. The company has been producing 5 Mtpa of DSO since 2011. Still, in April 2021, ArcelorMittal announced its decision to progress with the proposed Phase 2 expansion to produce 15 Mtpa Fe concentrate, which commenced production in late 2024. The initial US$1.4 billion capital cost will include the construction of a concentrator, a ship loader at Port Buchanan, and associated infrastructure. Operating costs will rise significantly as the DSO operation winds down and the concentrator ramps up. Recent planning revised the capex for Phase 2 to US$1.8 billion (from US$ 1.4 billion) to accommodate the expansion to 20 Mtpa of product, bringing the capital intensity of the combined phases to US$135/tonne. With the license transfers of other projects in the Nimba range, ArcelorMittal now holds a virtual monopoly in the region.