Senator Nya D. Twayen Jr. has expressed deep concern over what he describes as ArcelorMittal Liberia’s (AML) failure to fully disclose and account for its actual profits derived from operations in Liberia. His statement comes amid growing calls for transparency and accountability in concession management, particularly as discussions emerge about the possible renewal of AML’s Mineral Development Agreement (MDA). According to Sen. Twayen, referencing financial data compiled by Mr. Collins based on figures from both ArcelorMittal and the Government of Liberia (GOL), the company has made a total investment of approximately US$3 billion since its entry into Liberia.
Over this period, ArcelorMittal has reportedly generated total revenues of about US$8 billion, realizing a net profit of approximately US$5 billion. Sen. Twayen emphasized that under the terms of Liberia’s fiscal framework and the MDA, the country is entitled to 30% of the company’s declared profits. “Thirty percent of US$5 billion amounts to US$1.5 billion, and this is the amount Liberia is being deprived of because ArcelorMittal has allegedly refused to declare the full extent of its profits,” he stated. He revealed that his team intends to formally communicate these findings to the Inter-Ministerial Concessions Committee (IMCC) and the Office of the President, urging the government to address the issue before any further negotiations or renewal of AML’s MDA are considered. “This is no longer just about social or community development issues as outlined in the MDA,” Sen. Twayen asserted.
“We have moved beyond advocacy into detailed financial analysis of AML’s books, and the data strongly suggests that Liberia has been systematically shortchanged.” He further noted that such financial discrepancies undermine Liberia’s economic sovereignty and limit the government’s ability to deliver essential services to its citizens. “If a foreign investor can make US$5 billion in profit and still fail to honor its financial obligations to the Liberian people, then we must urgently revisit our concession monitoring and enforcement mechanisms,” he said. Sen. Twayen concluded by calling for a comprehensive audit of ArcelorMittal’s operations in Liberia and greater transparency in concession governance to ensure the nation benefits equitably from its natural resources.
