Mittal Steel in $900 Million Liberian Iron Ore Investment

September 9, 2005

Cleary Gottlieb is representing Mittal Steel in the negotiation of a mining development agreement with the Government of Liberia, which will give Mittal access to about 1 billion metric tons of rich iron ore reserves in Western Liberia. The agreement, which was signed in Monrovia, was ratified by the Liberian Senate on September 9. Mittal expects to invest approximately $900 million over the life of the project for mine development, related railway and port infrastructure and community development.