PRESIDENT GEORGE MANNEH Weah has met with Lakshmi Mittal, Executive Chairman of ArcelorMittal, in Doha, Qatar, and held discussions centered around resolving all outstanding issues relating to the Revised Mineral Development Agreement (“MDA”) to be signed between the Government of Liberia (GOL) and ArcelorMittal (Liberia) Ltd. Accordingly, President Weah has appointed, with immediate effect, a Special Presidential Committee of the Government of Liberia (GOL) to work with an ad-hoc committee that is to be established by Mittal to resolve all outstanding issues relating to the MDA.
WHEN THE STORY of the end of war and complete restart of statehood of Liberia is told, ArcelorMittal stands out tall among all others. Despite her infrastructural and national security challenges, AML opted to invest in Liberia, and since 2005 spent a little over US$1.7 billion on its Liberian operation.
THE GLOBAL STEEL company has not just created good-paying jobs for about four thousand Liberians; it has continuously invested in community development, health and education.
THE COMPANY HAS paid more than US$45 million in social development contributions to Grand Bassa, Nimba and Bong counties alone, excluding its annual payment of millions in ventral government’s accounts in taxes and royalties in good and bad times.
WHILE THE GLOBAL COVID-19 pandemic has destroyed jobs worldwide and has further undermined the attainment of sustainable development goals aimed at reducing poverty and least developed countries like Liberia, AML has never shut its doors. It has continued to stand with and by Liberia.
NONETHELESS, ITS FDI remains an important source of external finance for key projects like the construction of the Ganta-Yekepa road, fully funded by AML, as a key piece of public infrastructure for sustainable development and eventual regional economic growth.
DESPITE THE PRESENCE of other mining concessions in Liberia, AML’s operation in the extractive sector remains the top performer in government revenue generation, pointing to Liberia’s continued dependence on the extractive sector and on natural resource-driven FDI.
PRESIDENT WEAH’S APPOINTMENT of the Special Presidential Committee to delve into the intricacies of the third MDA upholds the invaluable partner, ArcelorMittal, and its beneficial partnership to Liberia.
