Liberia’s house of representatives rejected the third amendment of the $800m mineral development agreement between the country and steel giant ArcelorMittal. This rejection sends the agreement back to President George Weah, who now has to renegotiate the agreement with the company. ArcelorMittal’s operations in Liberia focus on mining, railing and shipping iron ore. The company is the single largest private investor in the country since the end of the second civil war in Liberia in 2003. However, the third Mineral Development Agreement (MDA) amendment, which was signed between the company and the executive in 2021, has to be ratified by both houses of the Liberian legislature before being transmitted back to the executive for the President’s signature.
SOURCE: THE AFRICA REPORT
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