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AML Pledges To Stay In Liberia Despite Drop In Iron Ore Price
Date Uploaded: Dec 13, 2014

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AML Pledges To Stay In Liberia Despite Drop In Iron Ore Price
By Wellington G Patrick, Nimba County Correspondent

SANNIQUELLIE, December 11 (LINA) - Arcelor Mittal says it will not terminate its operations in Liberia because of the drop in the price
of Iron Ore on the world market.

The company’s head of communication, Hasta Baker Pearson, told LINA Wednesday that several companies across the world have shutdown productions due to the  reduction in the price of iron ore by nearly 50 percent.

Pearson said the company is on track with its production schedule and that it will use funds generated from its steel industries to maintain its Liberia-Yekepa operations in order to help improve the economy of Liberia.

The price of iron ore has slumped  on the world market from US $180.16 in January to US $ 74.00 in November 2014.
LINA 

 

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