Asset Report
Nimba (Yekepa) Phase 2 iron ore mine
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Nimba (Yekepa) Phase 2 is the expansion of ArcelorMittal Liberia's DSO operation. The company has produced around 5 Mtpa of DSO since 2011, and in April 2021 announced its decision to progress the Phase 2 expansion to produce a Fe concentrate, with first concentrate achieved in late 2024 and the concentrator formally inaugurated in June 2025. The capital cost, initially US$1.4 billion, covers a new concentrator at Tokadeh, a ship loader at Port Buchanan, and associated infrastructure. Operating costs rise significantly as the legacy DSO operation winds down and the concentrator ramps up. Recent planning revised the Phase 2 capex 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. Liberia shipped around 10 Mt in 2025, with guidance of more than 18 Mt in 2026 en route to the 20 Mtpa run-rate targeted by end-2026.
Table of contents
- Summary
- Key issues
Tables and charts
This report includes the following images and tables:
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Nimba Phase 2 Emission Intensity Quartile ranking – total global production- tonnes of oreDetail MapParticipation
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Marketable reserves (at 01/01/2026)ProductionProductionOperationsInfrastructureCash costsCash costsCapital costsProduct quality
- 1 more item(s)...
What's included
This report contains:
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