MONROVIA – Private sector leader ArcelorMittal Liberia has, for the third consecutive year, been presented the Gold Award and named the highest taxpayer of the year 2021-2022 by the Liberia Revenue Authority (LRA).
At its annual taxpayers’ appreciation awards and dinner night, LRA’s Commissioner General Thomas Doe-Nah announced ArcelorMittal Liberia as the biggest contributor to the government’s revenue, followed by bronze winner and silver winners.
Commissioner General Doe-Nah commended ArcelorMittal Liberia for its exemplary contributions to Liberia’s economy and expressed the hope that other businesses would follow suit through the payment of their taxes.
Receiving the award on behalf of the CEO and management of ArcelorMittal Liberia, the company’s Head of Government and Community Relations Marcus Wleh thanked the LRA for the annual taxpayers’ appreciation event to recognize businesses and individuals who are contributing to the development of their country by paying their taxes.
“The private sector is the engine of growth. We are happy that ArcelorMittal Liberia is being honored which is a further manifestation of how, as a company, our future is intertwined with Liberia’s future…something that is very important.”
Wleh praised the enabling business environment that has been created, making it possible for ArcelorMittal to operate freely and contribute meaningfully to the governments’ revenue generation.
Last year and the year before, ArcelorMittal Liberia was also recognized as the highest contributor in taxes to the Government of Liberia and since it began operations in Liberia, the company has remained on the list of top taxpayers.
ArcelorMittal Liberia’s payments and contributions to the government since 2005, including in taxes, royalties, and others, exceed a total of USD $317 million.
In addition to its financial contribution, ArcelorMittal Liberia is one of the largest employers in Liberia and provides several other critical services to Liberians in the areas of healthcare, education, training, and development.
Last year, ArcelorMittal Liberia officially recommenced its Phase Two expansion project, halted by the 2014 Ebola outbreak with the signing of the Third Amended Mineral Development Agreement (MDA) with the Government of Liberia.
The expansion project which encompasses processing, rail, and port facilities, will be one of the largest mining projects in West Africa, with a capital of over USD $1bn and includes the construction of a new concentration plant and the substantial expansion of mining operations, ramping up to 15 million tonnes per annum (‘mtpa’). Under the agreement, the ArcelorMittal Liberia company has a reservation for expansion for at least up to 30mt.
Up to 3000 new jobs are being created during the construction phase of the concentrator, with Liberians filling up most of the roles created.
As the largest foreign investor in Liberia, ArcelorMittal Liberia has invested over $1.7 billion in the country over the past 15 years.