By Jeremiah Gayflor
Nimba County Senator Nya D. Twayen has launched a bold critique of ArcelorMittal Liberia (AML), accusing the mining giant of withholding critical profit declarations and potentially shortchanging the country by as much as $1.5 billion.
Senator Twayen referenced findings based on data from both ArcelorMittal and the Government of Liberia, which indicate that while the company has invested approximately $3 billion into its operations in Liberia, it has reportedly earned total revenues of $8 billion and net profits of about $5 billion.
“Thirty percent of that $5 billion profit — which is about $1.5 billion — is what ArcelorMittal owes Liberia for failing to properly declare its earnings,” Senator Twayen said, citing a financial analysis conducted by Mr. Collins, an economic advisor. “This is beyond a matter of social and community development under the Mineral Development Agreement (MDA); we are now talking about significant financial discrepancies.”
Senator Twayen stressed that before any discussion around renewing AML’s current agreement is entertained, the matter must be addressed. He revealed plans to formally write the Inter-Ministerial Committee on Concessions as well as the Office of the President to demand a thorough review of ArcelorMittal’s financial disclosures.
“We are going to the core of AML’s financial books. The Liberian people deserve transparency and their fair share of the country’s natural wealth,” he said.
The Senator’s remarks mark a growing shift among lawmakers who are increasingly scrutinizing the financial accountability of multinational corporations operating in Liberia, particularly those involved in extractive industries.
ArcelorMittal Liberia, one of the country’s largest foreign investors, has yet to issue a response to the Senator’s claims.
