https://www.liberianobserver.com/ Liberia's First Independent Daily en Sat, 27 Apr 2024 18:42:19 +0000 Wed, 25 May 2022 04:02:33 +0000 https://www.liberianobserver.com/liberia-arcelormittals-us16b-investment-questioned Global steel giant ArcelorMittal’s claim of investing US$1.6 billion in Liberia over the last sixteen years has been questioned by the government, at a time when the required refurbishment of the existing infrastructure, such as the railway, port, hospital, and power plant, among others, is… dyates460@gmail.com (David A. Yates) e112d6eb-cba5-4eaa-9faf-83b14ef7f9a0 Wed, 25 May 2022 04:02:33 +0000 Liberian Observer - Liberia's First Independent Daily https://www.liberianobserver.com/liberia-pres-weah-prepared-renegotiate-aml-us800m-deal ... “My government remains fully committed to a fair multi-user access  to and use of the railroad corridor from Yekepa to the Port of Buchanan, and to the Port of Buchanan itself, both by other Liberian enterprises and those from the sister Republic of Guinea,”  President Weah President… lmsonpon@gmail.com (Leroy M. Sonpon 873f68d2-a234-425a-8d80-c10cb59840fe Fri, 20 May 2022 03:49:54 +0000 Liberian Observer - Liberia's First Independent Daily https://www.liberianobserver.com/liberia-arcelormittal-haunted-global-safety-deficit ... Shareholders urged to put CEO and board of directors in check ArcelorMittal’s numerous safety problems in Liberia may seem isolated but, in reality, the company is suffering from a safety deficit that is endemic at the group level.  Now the world’s second-largest steelmaker faces… dyates460@gmail.com (David A. Yates) 2529356d-d262-4647-bc34-721b76aeb1ab Wed, 27 Apr 2022 04:33:38 +0000 Liberian Observer - Liberia's First Independent Daily https://www.liberianobserver.com/liberia-houses-letter-weah-explains-rejection-aml-deal “... the due diligence exercised on the proposed ArcelorMittal Liberia Mineral Development Agreement established a series of observations that the House of Representatives wishes to bring to your attention,” says House of Representatives The most significant foreign direct investment to be… dopoejr@gmail.com (Robin Dopoe) 4fa89457-52aa-49e3-a98d-4e845642e2bb Wed, 30 Mar 2022 07:11:13 +0000 Liberian Observer - Liberia's First Independent Daily https://www.liberianobserver.com/liberia-house-rejects-arcelormittals-monopolistic-clauses ... “The proposed amendment as written by AML is highly disadvantageous to a poor struggling country Like Liberia.” Editor Note: The full text of the House’s amendments to the ArcelorMittal MDA can be found via this link, while the original MDA can also be found here. The House of… lmsonpon@gmail.com (Leroy M. Sonpon 9903f2e8-a816-4fa0-accf-15bed68aedab Fri, 17 Dec 2021 07:20:21 +0000 Liberian Observer - Liberia's First Independent Daily https://www.liberianobserver.com/liberia-enough-enough-people-liberia-have-spoken In the wake of ArcelorMittal’s vicious smear campaign directed against the Daily Observer, the Joint committee of the House of Representatives has seen through the lies and half-truths being sold to the public and has taken a definitive stance on the Agreement. The House of… 536e4074-3129-45bd-8820-3f39da73a5b6 Fri, 17 Dec 2021 06:50:12 +0000 Liberian Observer - Liberia's First Independent Daily https://www.liberianobserver.com/liberia-have-they-not-heard-maxim-says-truth-crushed-earth-shall-rise-again – the case of Mittal Steel ArcelorMittal Liberia (AML) the iron ore and steel conglomerate has from all indications stepped its campaign of misinformation by feeding false narratives to the public all in an image building attempt to wipe clean her slate of broken promises, unbridled greed… 1b8f56ac-d68d-4959-b288-38d6663f1b24 Thu, 16 Dec 2021 04:34:08 +0000 Liberian Observer - Liberia's First Independent Daily https://www.liberianobserver.com/liberia-reject-mittal-steel-amended-agreement From the look of things, the Legislature appears set to approve the controversial extension of the Mittal Steel Agreement, despite public protest and calls from Project Affected Communities (PACs) to reject the terms of the Agreement. This is because the communities in which the company… 081ab34f-82f1-46ed-ae98-74dee56639e9 Thu, 09 Dec 2021 08:03:01 +0000 Liberian Observer - Liberia's First Independent Daily https://www.liberianobserver.com/liberia-arcelormittals-control-rail-could-jeopardize-other-iron-ore-projects ... HPX and Ivanhoe Liberia, Others, comment further on the issues relating  to access to the Yekepa-Buchanan infrastructure corridor  With the Government of Liberia’s December 31 deadline fast approaching for the Legislature to ratify the contentious third amendment to the 2005… 9ef5a312-ac04-4333-ac53-ab8f78905187 Wed, 08 Dec 2021 08:06:49 +0000 Liberian Observer - Liberia's First Independent Daily https://www.liberianobserver.com/liberia-gol-struggling-justify-aml-us800m-deal – Legislature demands GOL provide compliance reports on ArcelorMittal as Finance Minister admits problems with the deal Both houses of the Liberian Legislature have begun separate hearings into the third amendment of the ArcelorMittal Liberia (AML) mineral development agreement (MDA), citing relevant authorities to give justification as to whether or not the deal should be endorsed by the legislature for the next 25 years.  While they have not yet gotten to the most contentious part – who controls the Yekepa-Buchanan railway and port – there are already signs of more questions than answers. This is in spite of the urgency that President Weah has attached to the matter, that the Legislature ratify the amended agreement before December 31, 2021.  With barely four weeks to the deadline, hearings in both houses started with issues of environmental compliance.  At the first public hearing into the matter by the Senate Joint Committee on Mines, Energy, Natural Resources and Environment, Concession and Investment as well as Judiciary requested for a compliance report of ArcelorMittal since the beginning of the Company’s operations in Liberia. The invited ministries and agencies of government, which are responsible to regulate concessions and concessionaires, are expected to give a detailed explanation on the third amendment of the Arcelormittal Liberia agreement, to the tune of US$800 million. The committee is also requesting an audit report so as to put the Senate in an informed position to either ratify the new agreement or not.  The hearing, held in the Senate Annex Chambers, was intended for the relevant Government institutions to explain reasons why the Liberian Senate should ratify the US$800 million concession deal for the next 25 years. The Minister of Mines and Energy, Gesler Murray, informed the Joint Committee that ArcelorMittal Liberia wants to organically grow its iron ore mining project from the planned 15 million tons per annum (mtpa) to at least 30 mtpa over the next decade. For his part, Finance and Development Planning Minister, Samuel Tweah, told the Joint Committee that the expansion will create massive revenue benefits to the Government of Liberia including additional investment and job creation and also make Liberia one of the largest iron ore exporting countries in the world. Minster Tweah admitted that the deal may not be as 100 percent, but the government has been on the back of the company for improvements, and asserted that the company has been paying its financial obligation to the government. He added that if the Arcelormittal US$800 million amendment is not ratified by December 31, 2021, the government will experience constraints as the company will not pay the US$30 Million up front as promised; at which time the government will seek another means to pay its workers. For his part, the Minister of Justice, Cllr. Frank Musah Dean, re-echoed that the 3rd Amendment to the MDA is intended to ensure that the U$800 Million Arcelormittal expansion project, if ratified, there will be further expansion of the railway for other usage and improvement of the Port of Buchanan. Minister Dean further reminded the Joint Committee of Article 3, section 2 of the 2007 Amended Arcelormittal Mineral Development Agreement, which states; “that the concessionaire has the right to request an extension of the term for additional 25 years upon notice to the Government, along with submission of a revised feasibility study and the MDA may be amended upon terms to be agreed to by the parties” the Minister concluded. House Hearings Meanwhile, at the House of Representatives, hearings into the 3rd Amendment to the Mineral Development Agreement of ArcelorMittal Liberia Holdings Limited and ArcelorMittal Holdings A.G. and the Government of the Republic of Liberia also started December 6, by the House Joint Committee on Investment and Concession, Judiciary and Ways, Means, Finance & Development Planning with Liberia Land Authority and the Water Sanitation & Hygiene Commission appearing. The Land Authority and WASH Commission gave their perspectives on some important issues that should be in the MDA before approval by the Legislature. For Instance, the National WASH Commission is concerned about the free extraction, use, pollution and discharge of water. The Commission said it would like for there to be included in all concession agreements licensing for water extraction, use, pollution and discharge. The Commission said it would also like to see a waste management plan in the concession areas. The Land Authority expressed concern about the land ownership for inhabitants and communities in concession areas. The AML’s third amendment, featuring an US$800M Investment in Liberia, will provide the Government of Liberia with US$55 million within 19 months of ratification. The Government and ArcelorMittal Holding A.G. made and entered into a Mineral Development Agreement (MDA) on August 18, 2005, which was ratified by the Legislature, signed by the President, and printed into handbills.  The Agreement has gone through two different amendments on December 28, 2006, and January 23, 2013, respectively. The next hearing is scheduled for Wednesday, December 9, 2021, when the National Investment Commission, Justice, Mines & Energy will be in attendance to give their technical perspectives as well. liberianobserver@gmail.com (Staff Editor) fbf3e107-ecdd-4cf6-abf3-26c11059615b Tue, 07 Dec 2021 03:54:05 +0000 Liberian Observer - Liberia's First Independent Daily https://www.liberianobserver.com/libera-too-much-uncertainty-arcelormittal-liberia-revised-mda It has been well over 45 calendar days (that is, 31 working days) since a consortium of independent news media organizations made a formal request to the Government of Liberia, through the Ministry of Mines and Energy, with notifications to several other entities including the Ministry of… af208e3f-3976-415d-9969-91ed050531b8 Thu, 02 Dec 2021 07:05:33 +0000 Liberian Observer - Liberia's First Independent Daily https://www.liberianobserver.com/liberia-house-probes-arcelormittals-800m-investment ... For an additional 25-year extension The House of Representatives has begun probing the amended Mineral Development Agreement between the government and ArcelorMittal Liberia. The deal is for the extension of AML’s operation in Liberia for another 25 years, which ends on December 31,… lmsonpon@gmail.com (Leroy M. Sonpon 180ce10f-f023-406e-9704-c95a7e047ba0 Wed, 24 Nov 2021 04:59:07 +0000 Liberian Observer - Liberia's First Independent Daily