Liberia: Arcelormittal Not Taking Full Control of Railway - Says Govt Owns All Railways and Ports

Monrovia — ArcelorMittal Liberia (AML) top management has debunked report that it is opting for sole ownership right of the railroads and port of Buchanan in the current proposed amendment of the Mineral Development Agreement (MDA) it signed with the Government of Liberia.

The proposed agreement, the third amendment to the original MDA signed in 2005, has already been passed by the House of Representatives and forwarded to the Liberian Senate, which is expected to begin its scrutiny in the coming days. The agreement, among other things, called for ArcelorMittal to make US$800 million investment in Liberia, employed over 1,000 Liberians and provide the Government of Liberia with US$55 million within 19 months of ratification.

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