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