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
More Stories
Odinga Won’t Accept Election Result
Mobile “Play-to-earn” App Enables Gamers of Every Level to Earn Cash in every Match they Play
A Device Designed to Make Computing and Computers Accessible to all Africans
African Countries with the Highest Pension Fund Asset Growths
Kigali Hikes Up the Interest Rate
Tragedy Strikes Egyptian Church
Meet the 2022 BBC News Komla Dumor Award Recipient
Nigerians Encouraged to Use Mobile App to Report Oil Theft
Liberian Officials Sanctioned for Corruption
African States Need Policy Interventions to Grow the Market for Circular Plastic Products
William Ruto Declared Winner of Kenya’s Presidential Election
Top 5 African Travel Destinations To Visit This August