The Speaker of the House of Representatives, Dr. Bhofal Chambers has announced that the Legislature will review the iron ore concession agreement with ArcelaMittal as well as other concessions signed by the current and previous governments.
The pronouncement by the House Speaker poses risks of disrupting ArcelorMittal’s plans to triple its iron ore production in Liberia and stay in the country for at least 25 more years, which the current government agreed to do in September of 2021.
But Speaker Chambers said the House has asked ArcelorMittal to review the Mineral Development Agreement (MDA) it is trying to get ratified.
Speaker Chambers explained, “We did not outright reject it. We said it should be renegotiated.”
Meanwhile, ArcelorMittal declared on March 31 that it was concerned about the ratification process for the MDA, which would be its third in Liberia since the first one it signed in 2005.
According to Speaker Chambers, the House will not be deterred but without providing a timeline for the review.