Capitol Hill, Monrovia – Members of the 55th Legislature have launched an inquiry into a controversial decision that saw Liberia’s equity share in ArcelorMittal Liberia (AML) reduced from 30% to 15%, as disclosed during a recent legislative hearing.
Appearing before the Joint Committees on Concessions, Compliance, and Review, representatives of AML confirmed that Liberia’s stake in the company had been cut in half, citing a “board resolution” as the basis for the decision. However, the company failed to produce any documentary evidence to substantiate the claim, raising red flags among lawmakers.
Even more concerning, representatives from the Ministry of Justice and the Ministry of Mines and Energy who reportedly serve on the AML board on behalf of the Liberian government told the Committee they were unaware of the circumstances surrounding the equity reduction and could not provide adequate information at the time, which they didn’t attend the hearing.
Lawmakers were visibly alarmed by the lack of transparency and the government’s apparent detachment from a decision of such significant financial and national importance. The Joint Committee stressed that Liberia’s ownership stake in AML is a matter of national interest, and any reduction must be thoroughly justified and documented.
“This unexplained reduction of Liberia’s stake from 30% to 15% is unacceptable,” one committee member stated. “We cannot allow such critical matters involving our national resources and economic stake to be handled in secrecy.”
In response, the Committee adjourned the session and issued a directive: AML must return to the Legislature on Tuesday, July 15, 2025, with the original board resolution and all supporting documents that led to the reduction of Liberia’s equity share.
As the investigation unfolds, the House has vowed to get to the bottom of what could potentially be a major breach of trust and governance regarding Liberia’s natural resource management.
Stay with us for updates as this developing story continues.
