Editor Note: The full text of the House’s amendments to the ArcelorMittal MDA & original MDA here: AML deal 2021
IPNEWS: In less than 24hrs following the rejection of the much publicized third amendment of the ArcelorMittal deal, the authoritative Independent probe has obtained a leaked transcript which formed the basis for rejection of the twenty-five years ArcelorMittal extension deal.
The transcript emanating from a prodemocracy group called “Empower Liberia”, a propaganda tool for one of ArcelorMittal opponent (name withheld) had been holding secret meetings with key members of the Legislature in a bid to cancel any intend on the passage of the 800 million dollars investment deal.
“We are here, as a group of concerned citizens, to educate our fellow-Liberians and the Liberian authorities into new and well-grounded ways of growing. We are here to put an end to the old ways that keep us prisoners of poverty and underdevelopment.—-Empower Liberia”
The leaked transcript advised House speaker Bhofal Chambers, and members of the House of Representative that the ‘ Government of Liberia would lose 62 million US dollars for Liberia in 2022 alone, if it granted the multi-user access to Yekepa-Buchanan railway and port to ArcelorMittal exclusively’. The leaked transcript also warned that with the projection, Liberia would further lose $7 million more than ArcelorMittal had promised to deliver if the company receives an entire exclusive concession till 2046.
The transcript further, that if the Government respects the will of the Liberian people and take necessary steps to ensure full compliance with all amendments voted for by both Chambers allowing the railway and the port to be accessible to a third party, Liberia would receive at least $62 million.
– $17 million before 31 March 2022;
− $20 million not later than the end of April 2022;
− $25 million, not later than the end of September 2022.
“On the other hand, if the amendments passed when the House and the Senate debated the new Mineral Development Agreement are overturned, and ArcelorMittal receives exclusivity rights for many years to come, AML promises to pay $55 million; $20 million 30 days after Amendment No 3 Effective Date, so not before the end of April 2022; $10 million, not before the end of May 2022; $25 million 9 months after Amendment No 3 Effective Date, so not before December 2022; $10 million 18 months after Amendment No 3 Effective Date, so not before September 2023.” The transcript prompted members of the House of Representative.
The secret transcript furthermore cautioned members of the House that ‘allowing for transparent non-discriminatory access to Liberian infrastructure assets and having more than just AML’s project implemented at the same time, would immediately benefit the people of Liberia’.
“What is not so obvious is the reason behind AML’s efforts to prevent other users from being able to use the railroad, depriving Liberia of much-needed investment. In the words of an expert: “Would it not be better for Liberia to triple the capacity of the existing railroad from AML’s planned 15 million to at least 45 million tons per year? To have an additional 600 million US dollars of investment in infrastructure on top of AML’s proposed 200 million for port and rail refurbishment? To create another 500 jobs and to generate millions of additional revenues every year for the local communities and for the National Government?”
In December 2021 the House of Representative concluded that the new MDA would give AML a “complete monopoly” over the Yekepa-Buchanan railway and port.
Sources told IPNEWS minutes after the House secret session that lawmakers of Grand Bassa and Nimba counties argued that despite warning from mining experts, it was impossible to allow AML to have exclusive rights to the railroads.
“Why does AML want to make it difficult or nearly impossible for others to invest and use the railroad when it would ultimately be beneficial for AML and for Liberia to share costs among many users? Why does AML want to deprive Liberia from the benefits of a major and immediate expansion of the Yekepa-Buchanan infrastructure corridor, which would make it one of the largest in West Africa?” Some of the Lawmakers questioned.
On Monday, March 28,2022, Members of the House of Representatives rejected the extension of the third amendment of the much-publicized ArcelorMittal twenty years deal valued at eight hundred Million United States Dollars.
In a motion by Margibi County lawmaker Ben Fofana, during Monday’s emergency session, the House of Representative unanimously agreed to also sent back deal to the Executive Mansion for renegotiation following months of legislative scrutiny.
Moments after the rejection of the ArcelorMittal deal, House speaker Bhofal Chambers said the decision taken by lawmakers is the ‘greatest achievement to humanity’.
In December 2021, prior to this rejection extension deal rejection, some members of the House of Representative raised reservation about ArcelorMittal’s amended deal ‘Monopolistic’ Clauses. They vowed to passed the ratified the ArcelorMittal agreement but not without several amendments, which returns control of the railroad and the port of Buchanan to the Government of Liberia. For more into this login to: House of Representative Rejects ArcelorMittal 25yrs Extension Deal —Wants Pres. Weah Renegotiate deal – The Independent Probe Newspaper
