AML’s Contributions Resonates for Progress -Goes Extra Miles Outside MDA Provisions

MONROVIA: ArcelorMittal Liberia has been committed to Liberia’s development evidently through its significant financial contributions since 2005 as payment records show that the company owes no money to the government from social development funds to taxes and royalties.

With a total government payment of $414.6 million across various categories, ArcelorMittal Liberia continues to play a crucial role in the nation’s economic progress. The largest portion of this contribution, which sums up to $160.7 million, comes from taxes paid by the company.

These funds bolster the government’s financial capacity to provide essential services and infrastructure, fostering overall economic stability, a release by the AML recounted

Besides, the release recounted that royalties, amounting to $118.8 million was contributed to the nation’s revenue stream, supporting key sectors such as education, healthcare, and social welfare, a sustainable financial support that aids Liberia in building a resilient foundation for long-term growth.

Mineral Development Agreement (MDA) payments of $75.3 million, covering signature fees and bonuses, also showcase ArcelorMittal Liberia’s commitment to transparent and mutually beneficial partnerships that contribute to Liberia’s economic advancement and resource management, according to the release.

The ongoing Ganta to Yekepa road pavement, with $35.6 million invested so far by AML stands to enhance transportation infrastructure that can foster connectivity and accessibility between the commercial hub of Ganta and the mining town of Yekepa.

This road connectivity effort, which is not even related to any of ArcelorMittal’s commitments under existing MDA is a key development that not only facilitates commerce but also improves the quality of life for citizens along the route.

The release maintained that the AML resettlement alone, AML has made payments totaling $19.6 million to community well-being

Particularly, the support for tree crop farmers in Nimba County which demonstrates a holistic approach to sustainable development, ensuring that local communities thrive alongside the company.

MDA Scholarships and payments to Liberia Agency for Community Development (LACE), ranging from $2 to $2.5 million to date.

The release explained A key pillar of ArcelorMittal Liberia’s investment is education and community empowerment, scholarship, local and international, set the groundwork for a skilled workforce and empowered communities to drive long-term socio-economic development.

LACE, according to the release, is implementing hospital projects in Sehyikimpa, Nimba County, and Buchanan, Grand Bassa County which effort the AML is apparently supporting, stating that this support contributes to improved healthcare infrastructure, promoting the well-being of communities and fostering a healthier, more productive population.

AML’s financial contributions, the release said, extend beyond mere business transactions; they form the backbone of Liberia’s socio-economic development in so many regards.

From infrastructure to education and healthcare, these investments underscore the company’s commitment to fostering a thriving nation, the release outlined.

The release then concluded that as a crucial player in Liberia’s economic landscape, ArcelorMittal Liberia’s contributions resonate as key for progress, shaping a brighter and more prosperous future for the nation and its people.

1 Comment
  1. E Massoud says

    If AML is doing so well, how come only the Analysts recognizes this? No one says AML is behind payment on social economic development funds but rather the meager amounts of 3 million per county which was recently raised from 1 million is inadequately insufficient to improve education, healthcare, infrastructure and social services. The the disproportionate impact of revenues applied to royalty payments and tangible results desired to improve socio economic initiatives have conversely contributed to Liberia ranking as one of the poorest nations in the world with 80 percent of the population having no access to electricity, majority of primary schools with basic requirements like seats for students and community hospitals without the requisite medical supplies and equipment etc.

    AML has generated more wealth with its operation in Liberia without accountability while Liberia is still ranking as one of the poorest nations in the world. This shows a lack of commitment to transparency that is contrary to the goal of mutually beneficial partnership.

    Paving the Ganta to Yekepa road on voluntary basis does not circumvent the need to pave the Johnson St road that connects Buchanan to the AML camp in Buchanan for example.

    Obviously we all don’t share the Analyst enthusiasm and continous bragging of AML tangible contributions because it’s not translating to improved economic activities.

Comments are closed.