The Liberian Senate has joined the House of Representatives in approving the Third Amendment to the Mineral Development Agreement (MDA) between the Government of Liberia and ArcelorMittal Liberia, a move widely seen as a significant boost for long-term investment in the country’s mining sector.
The Senate’s decision followed the submission of a joint report from the House Committees on Mines, Investment, and Judiciary, which conducted a review of the proposed amendment and recommended its ratification. With concurrence now secured from both chambers of the Legislature, the amended agreement awaits presidential signature.
Once signed into law by the President, the Third Amendment is expected to immediately trigger a signature bonus of approximately US$200 million, injecting substantial new resources into the national economy.
The amendment also extends ArcelorMittal Liberia’s concession agreement with the Government of Liberia through the year 2050, reinforcing the company’s long-term presence and operational commitment in the country. During the Senate vote, Senators Nya Twayen, Crayton Duncan, and Francis Dorpoh abstained.
President Boakai Applauds Legislative Approval
Reacting to the Legislature’s action, President Joseph Nyuma Boakai, Sr. welcomed the passage of the Third Amendment, describing it as a landmark achievement following years of negotiations and sustained engagement between the Government and ArcelorMittal Liberia.
President Boakai noted that ArcelorMittal Liberia remains one of Liberia’s largest private sector investors and a major employer, playing a key role in job creation, skills development, and community-based initiatives across its areas of operation.
He explained that the amended agreement paves the way for a significant expansion of ArcelorMittal’s operations, with production capacity projected to increase to 15 million metric tons, and the potential to scale up further to 30 million metric tons over time. According to the President, a central feature of this expansion is the introduction of an independently operated railway, which is expected to enhance efficiency, allow multi-user access, and amplify the broader economic benefits of the concession.
The President emphasized that the Third Amendment is poised to deliver meaningful economic gains through increased employment, higher government revenues, and accelerated development in host communities. He added that the Legislature’s approval sends a strong signal to the international community that Liberia remains open to investment and committed to creating a stable, transparent, and investor-friendly environment.
President Boakai reaffirmed his Administration’s commitment to continued engagement with investors, local communities, and other stakeholders to ensure that Liberia’s natural resources are developed responsibly and in a manner that promotes inclusive, equitable, and sustainable benefits for present and future generations of Liberians.
