AML’s Faithfulness Fuels $1.2b Budget Milestone -GoL Acknowledges Gesture in 2026 Budget

MONROVIA – ArcelorMittal Liberia’s (AML) steadfast dedication to Liberia’s growth and development has been a cornerstone of the country’s economic resurgence, its faithfulness in fulfilling concessionary obligations, including the rehabilitation of the Yekepa-Buchanan rail and consistent payment of royalties, has significantly contributed to Liberia’s budget being catapulted to an unprecedented $1.2 billion. Presenting the Budget the Speaker of the House, Finance Minister of Liberia, acknowledged AML’s enduring partnership with Liberia, spanning over two decades, which has been a testament to its commitment to the nation’s development. Clear evidence of the company’s tireless efforts to expand its operations, invest in infrastructure, and create jobs have made it an indispensable partner in Liberia’s economic revival, expressed in the historic budgetary catapults. The Analyst reports.

Liberia’s fiscal envelop has hit historically colossal billion dollars, as the Executive Branch of Government has formally it presented to House Speaker Richard Nagbe Koon by Finance and Development Planning Minister Augustine Kpehe Ngafuan on behalf of President Boakai.

According to the draft FY 2026 Budget, domestic revenue accounts for US$1.13 billion (94%), while external resources represent US$72 million (6%).

The domestic revenue projections include Tax Revenue of US$726.97 million, Non-Tax Revenue of US$83.92 million, Mittal Sign-on Bonus of US$200 million, and Contingent Revenue of US$28 million.

With a legacy of excellence spanning over two decades, AML has consistently demonstrated its dedication to Liberia’s development, investing in the nation’s infrastructure, economy, and human capital.

The company’s unwavering commitment to Liberia’s growth has earned it a reputation as a true partner in the nation’s development, and this new agreement is a testament to that commitment.

This monumental move, ArcelorMittal Liberia (AML) has solidified its position as a trusted partner in Liberia’s development, signing the Third Mineral Development Agreement (MDA) with President Joseph Boakai.

This landmark deal, which includes a $200 million signature bonus, is set to catapult Liberia’s economic revival and cement AML’s commitment to the country’s growth.

Since its arrival in Liberia in 2005, AML has been a beacon of hope, investing in the nation’s infrastructure, economy, and human capital.

The company’s dedication to Liberia’s development is evident in its rehabilitation of the Yekepa-Buchanan rail, a critical infrastructure project that has facilitated the transportation of iron ore and boosted the country’s economy.

Moreover, AML has consistently fulfilled its obligations, paying royalties to the government and creating thousands of jobs for Liberians.

“This agreement is a testament to ArcelorMittal’s unwavering commitment to Liberia’s economic independence and growth,” said President Joseph Boakai. “We welcome AML’s continued investment in our nation and look forward to the prosperity it will bring.”

The Third MDA promises to unlock unprecedented economic opportunities for Liberia, with AML investing $1.2 billion to expand its mining operations, upgrade the Buchanan port, and improve infrastructure.

The project will also establish a modern concentrator plant, enabling the processing of iron ore in Liberia, thereby increasing value-added production and creating new job opportunities.

“ArcelorMittal is proud to be a long-term partner in Liberia’s development,” said an AML spokesperson.

“We are committed to working with the government and local communities to drive growth, create jobs, and improve livelihoods.”

The agreement is expected to increase AML’s production to 15 million tonnes of iron ore concentrate annually, with a long-term goal of reaching 30 million tonnes. The company will also contribute to the County Social Development Fund, supporting local projects in Nimba, Bong, and Grand Bassa Counties.

As Liberia embarks on this new chapter of economic growth, AML’s partnership is expected to have a lasting impact on the nation’s development, creating a brighter future for generations to come.

As part of its social commitment, the company will continue to contribute improved amounts annually to the County Social Development Fund for Nimba, Bong, and Grand Bassa Counties. These funds will support schools, health facilities, roads, and other local development projects.

With President Joseph Boakai’s signature now added to the agreement, the Third Mineral Development Agreement is expected to be sent to the National Legislature in the coming days for approval. The signing of this agreement marks a new chapter of cooperation between Liberia and ArcelorMittal, a chapter focused on jobs, investment, and shared progress for the Liberian people.