Early this week, the ArcelorMittal Liberia third Mineral Development Agreement (MDA) suffered a serious setback at the House of Representative, with Plenary rejecting the document sent to Lawmakers for ratification by the Executive Mansion.
House Speaker Bhofal Chambers said the rejection by the Legislature was in the best interest of the country, especially the ordinary people.
The decision followed a motion by Margibi County Representative, Ben Fofana who said:
“After looking at the strategic economic issues of our country with specific mention of Mittal steel, also as it relates to the committee’s report and the Senate passing another version, we have come to the point that the two Houses cannot resolve the issues abide…I move that said instrument be sent back to the Executive branch along with the concerns drown by the committee for further action if any.”
Speaker Chambers said the Legislature will only ratify agreement it the terms and conditions in the MDA benefit the Liberian people.
“It’s our modest way of saying that our people interest as being projected by this government, must be on the basis of Pro-Poorsim, (Pro-Poor) and that is the essence of our action of our action today.
Press Statement
AML Concerned about Status of Third Amended MDA;
Reaffairms Commitment to Liberia
BUCHANAN, March 30, 2022 – ArcelorMittal Liberia (‘AML’ or ‘the Company’) has learned through unconfirmed media reports that the House of Representatives has made appointments to the conference committee and some other decisions over the past few days regarding the company’s Third Amendment to the Mineral Development Agreement (MDA), which is awaiting ratification by the Legislature.
The Company believes that this Amendment to the MDA is in the best interest of Liberia and its people, as signed on September 10, 2021 after more than 12 months of negotiations with the Government of Liberia.
AML remains committed to Liberia with its long-term investments that will deliver a project which will bring unrivalled and extensive economic and social benefits to the country for decades to come.
For now, AML is awaiting all facts related to the actions by the Legislature before it will make any further statement on this matter.