EDITORIAL: Our Hats off to one of Liberia’s Premier Economic Partners, ArcelorMittal Liberia, Celebrating at 20 Years of Progress

WHEN LIBERIA’S ANNUAL budget was barely $80 million, guns littering all-round the country, armed gangs still in pockets of our country, and many transnational investors and other partners were on wait-and-see, it took a very few friends of Liberia to consciously brave the obvious risks. Amongst them was ArcelorMittal Liberia, then popularly called Metal Steel, which back in 2006 entered into a 25-year Mineral Development Agreement (MDA) with the Government of Liberia.

ARCELORMITTAL LIBERIA (AML) is part of the ArcelorMittal group, the world’s leading steel and mining company and the leader in all major steel markets such as construction, domestic appliances, packaging, and automotive. The group has an industrial presence in more than 22 countries, spanning four continents and covering all of the key steel markets, from emerging to mature. It has 119 million tons of annual steel production capacity and 245,000 employees across 60 countries.

IN THE LAST 20 years of investment in Liberia, the company has, by and large, shown its global overarching commitment to its brand promise of ‘transforming tomorrow’. And truly, that has come to Liberia, evidenced by its valued contribution to the struggling Liberian economy since 2006 in terms of employment, manpower training and development of its Liberian employees, giant royalty quotas to our national budget, corporate social responsibility to countless communities, amongst other things.

WE SAY HATS off to the shareholders, management and staff for this industrious concessionary as it clocks 20, hailing them for being for Liberia at the worst of times, holding on steadily despite the challenges, and all the good things. Their presence in Liberia is one reason why the international community, foreign capitalists and other economic actors still have our country in the spotlight. We sincerely appreciate them, and loudly, we say on behalf of the silent majority of Liberia, “Happy, Happy Birthday”.     

AS WE EXTEND our heartfelt birthday tidings, we do so acknowledging that it has not been all rosy for ArcelorMittal Liberia in its sojourn that is now eclipsing 20 years. There was the ruinous Ebola virus disease, there was the devastating Covid-19, and there has been public sector corruption – all of which has been militating against the enormous dividends of its one score year of operations in the country.

WE ALSO TAKE note of another investment nemesis, the issue of the long contested Yekepa-Buchanan railroad, which AML singlehandedly rebuilt, investing hundreds of millions of dollars. It revived the Buchanan Port, enabling iron ore exports and maritime trade. It directly employed over 3,500 Liberians and has committed to creating 2,000 more jobs under its expansion plan. It has invested $3.5 billion in Liberia, with all operations, taxes, and benefits directly linked to the country’s economy. Yet, our government is recompensing this good friend of Liberia with enormous frustration, exploring the unknowns, seeking marriages and attempting to put the business interest of with those who were never around in the country’s difficult times over ArcelorMittal Liberia.

THUS, AS ARCELORMITTAL celebrates its two-decade investment in country, it also marks the celebration of its relationship with Liberia, the feat obtained, the gains made, the challenges endured and the future we all desire in this relationship. In our view, that requires Government disengagement from what it is doing against the company, specifically entertaining HPX railway use claims.

IF THERE IS any gift Liberia can give ArcelorMittal on the celebration of its 20 years of friendship and investment, for its productive and impactful relationship, it is for our government to desist from pursuing a controversial deal with HPX, a company whose investments are in Guinea, not Liberia but is demanding priority access to Liberia’s railway and port. HPX seeks to export Guinean iron ore through Liberia, arguing that the infrastructure should be open for their use. So what happens to the investment interest for a highly friendly ArcelorMittal which rebuilt the railway and has been pumping goodies into our community.

LET US CELEBRATE with AML, put smiles on its face, and do the needly so that it releases the goodies in store for this country.

ONCE AGAIN, HAPPY birthday, to ArcelorMittal.