A testament to its firm commitment to transparency and ethical governance, ArcelorMittal Liberia (AML), the leader in Liberia’s mining sector, takes proactive measures to foster open dialogue with stakeholders and uphold responsible business practices.
To achieve this, the company holds regular annual stakeholder engagement meetings which serve as a platform to strengthen existing mechanisms for addressing and reporting stakeholders’ concerns, grievances, and issues related to ArcelorMittal’s operations in Liberia.
These engagements witness the participation of over 70 representatives, including legislators from other officials from various government line ministries, community and traditional leaders, youth groups, women organizations and civil society.
In such gatherings, ArcelorMittal consistently pursued meaningful engagement with stakeholders who are allowed to present issues relative to the operation of the company.
These activities are not limited to just stakeholder meetings. For example, in April 2018 the company played a pivotal role as one of the proud sponsors of the Grand Bassa Trade & Investment Conference, which brought together international investors and government officials to deliberate on the development initiatives in Grand Bassa County, one of three counties that host ArcelorMittal’s concession near the Port of Buchanan.
The company’s commitment to ethical governance is further underscored by the operationalization of its Sustainability and External Relations Department.
This department serves as a vital conduit, representing ArcelorMittal’s dedication to building and strengthening relations with the Government of Liberia (GOL).
The aim is to support the objectives of AML’s operation in Liberia, while adhering to the highest standards of corporate governance and business ethics.
ArcelorMittal’s approach to governance extends beyond meager compliance; it seeks to understand the true impact of its operations, predict future consequences and consistently manage risks across all facets of its activities.
The company’s proactive stance is a model for responsible corporate behavior, showcasing how industry leaders can proactively engage with stakeholders, uphold ethical standards, and contribute positively to the communities in which they operate.
ArcelorMittal Liberia benefits significantly from convening such regular stakeholder meetings as they serve as a vital communication and transparency tool, fostering open dialogue between the company and various stakeholders, including local communities, government entities, and investors.
The platform allows the company to share information, address concerns and build trust, contributing to a positive relationship with stakeholders.
From local county leaders and government officials to the communities where they operate, the discussions enable all parties to gain valuable insights, enabling them to incorporate community perspectives into decision-making processes and preventing potential conflicts. These regular meetings also facilitate timely resolution of issues, promoting a proactive approach to managing challenges and maintaining a positive social license to operate.
For AML, these meetings play a crucial role in fostering regulatory compliance, allowing the company to discuss and align its operations with local laws and requirements which helps prevent legal issues and ensures a cooperative relationship with regulatory authorities.
Additionally, AML’s style of engagement with diverse stakeholders contributes to improved decision-making processes, as the company gains valuable perspectives that enhance its understanding of the socio-economic landscape and potential risks.
Overall, regular stakeholder meetings underscore a concession company’s commitment to corporate social responsibility, showcasing its dedication to transparency, collaboration, and sustainable business practices in the communities where it operates.