The Joint Committee on the Compliance Review of Concessions of the House of Representatives (HoR), has summoned the Chief Executive Officer and Management of ArcelorMittal-Liberia (AML).
The company’s executives are to appear for a public hearing scheduled for Monday, June 16, 2025, at 11: a.m.
The hearing, according to a release, will be held in the 1st Floor Conference Room, House Wing, at the Capitol Building.
The Joint Committee comprises the Committee on Investment and Concessions, the Committee on Lands, Mines, Energy, Natural Resources and Environment, and the Committee on Labor.
“This public hearing forms part of the Legislature’s oversight responsibility to ensure transparency, compliance, and accountability in concession agreements signed between the government and concessionaires operating in the country.” The release said.
The focus of this Concession Compliance Review, will center on ArcelorMittal’s Mineral Development Agreement (MDA) with the government, with specific emphasis on the 30 percent share of the agreement.
The Committee has formally requested AML’s CEO and Management to present a comprehensive financial gain report covering the last five years of operations, along with the key documentations to aid the review process:
The documents include financial reports of operations for the past five years; quantity of iron ore produced during the period; list of projects implemented under Social Corporate Responsibility (SCR); report on the annual US$200,000 scholarship fund, including a comprehensive list of beneficiaries.
Others are the proof of transfers of the US$50,000 annual support to the Geological Department of the University of Liberia; an updated list of Liberian senior/managerial staff over the last five years; reports on Community Resources activities and outcomes during the period under review.
The Joint Committee urges AML Management to submit all requested documents on or before the hearing date to facilitate a transparent and results-oriented review process.
This action, the release said, demonstrates the legislature’s ongoing commitment to protecting national interests, ensuring full compliance with concession agreements, and promoting sustainable development for the benefit of the Liberian people.