𝗔𝗿𝗰𝗲𝗹𝗼𝗿𝗠𝗶𝘁𝘁𝗮𝗹 𝗔𝗽𝗼𝗹𝗼𝗴𝗶𝘇𝗲𝘀 𝗕𝗲𝗳𝗼𝗿𝗲 𝗛𝗼𝘂𝘀𝗲 𝗝𝗼𝗶𝗻𝘁 𝗖𝗼𝗻𝗰𝗲𝘀𝘀𝗶𝗼𝗻𝘀 𝗖𝗼𝗺𝗺𝗶𝘁𝘁𝗲𝗲

MONROVIA – The House of Representatives Joint Committee on Compliance and Concessions Review has adjourned its hearing with ArcelorMittal Liberia (AML) following the company’s failure to provide key documents and clarify issues surrounding Liberia’s equity stake.

During the hearing, AML formally apologized to the Committee for its initial failure to honor the scheduled appearance. In response, the Committee accepted the apology and granted pardon, allowing the proceedings to continue.

However, the Committee expressed serious concern over AML’s inability to justify why Liberia’s equity share in the company was reduced from 30 percent to 15 percent. This unexplained reduction was deemed a matter of national interest, requiring immediate clarification.

Furthermore, the Committee rejected AML’s submission of what it termed a “financial gains report,” noting that the company failed to present a duly audited financial statement. The Committee emphasized that the document provided did not meet the standard of a financial report and called for full compliance going forward.

In light of these deficiencies, the Committee adjourned the hearing to Tuesday, July 15, 2025, and instructed AML to return with the following critical documents:

1.  Audited Financial Statements

2.  Board Resolution authorizing the reduction of Liberia’s equity from 30% to 15%

3.  List of Corporate Social Responsibility (CSR) initiatives undertaken by AML

4.  Copy of the Contract between the University of Liberia and AML

5.  Current Company Organogram

The hearing was presided over by the Chairman, Representative Foday E. Fahnbulleh and Co-presided by Rep. Jeremiah Sokan.

The Committee reiterated its commitment to ensuring that all concession agreements operate in full compliance with national laws and contribute meaningfully to Liberia’s development.