The Liberian Legislature rejected ArcelorMittal’s MDA extension in 2022 over concerns related to national assets and compliance with local laws. The agreement favored ArcelorMittal and limited other investments, leading to calls for its expiration and a new agreement by 2030. Recommendations from the legislature included retaining ownership of key infrastructure and ensuring non-discriminatory management.
In 2022, the National Legislature of Liberia rejected an attempt by ArcelorMittal to extend its Mineral Development Agreement (MDA) for another 25 years, citing concerns over national interests and equity. The deal originally negotiated post-war, allowed ArcelorMittal exclusive control over key infrastructure like the Buchanan Iron Ore Port and the rail system, which critics argue has hindered other potential investments in the sector.
The rejection of ArcelorMittal’s proposed amendments in 2022 underscores the ongoing tension between foreign investment interests and national resources management in Liberia. The National Legislature’s emphasis on retaining control of vital infrastructure and adhering to domestic law reflects a commitment to ensuring equitable access and promoting true economic growth. As new negotiations unfold under a different administration, it highlights the need for a comprehensive review of Liberia’s engagement with foreign investors.
Original Source: www.liberianobserver.com
