The House of Representatives Joint Committee on Compliance and Concessions Review has adjourned its hearing with ArcelorMittal Liberia (AML) following the companyโs failure to provide key documents and clarify issues surrounding Liberiaโs equity stake.
The Joint Committee comprises, Investment Concessions, Lands Mines Energy Natural Resources and Environment, and Labor.
During the hearing, AML formally apologized to the Committee for its initial failure to honor the scheduled appearance. In response, the Committee accepted the apology and granted pardon, allowing the proceedings to continue.
However, the Committee expressed serious concern over AMLโs inability to justify why Liberiaโs equity share in the company was reduced from 30 percent to 15 percent. This unexplained reduction was deemed a matter of national interest, requiring immediate clarification.
Furthermore, the Committee rejected AMLโs submission of what it termed a โfinancial gains report,โ noting that the company failed to present a duly audited financial statement.
The Committee emphasized that the document provided did not meet the standard of a financial report and called for full compliance going forward.
In light of these deficiencies, the Committee adjourned the hearing to Tuesday, July 15, 2025, and instructed AML to return with the following critical documents:
- Audited Financial Statements
- Board Resolution authorizing the reduction of Liberiaโs equity from 30% to 15%
- List of Corporate Social Responsibility (CSR) initiatives undertaken by AML
- Copy of the Contract between the University of Liberia and AML
- Current Company Organogram
The hearing was presided over by the Chairman Hon. Foday E. Fahnbulleh and Co-presided by Hon. Jeremiah Sokan.
The Committee reiterated its commitment to ensuring that all concession agreements operate in full compliance with national laws and contribute meaningfully to Liberiaโs development.
Liberia Unveils Design for Congo Town Overhead Bridges; Construction Set for September
The Liberian government has officially released the blueprint and design for the much-anticipated overhead bridges in Congo Town. These structures aim to modernize the capitalโs transportation network and ease long-standing traffic congestion at major intersections such as Tubman Boulevard and SKD Boulevard. Government spokesman Jerolinmek Piah confirmed that construction is scheduled to begin in September 2025.
The project will be carried out by Shaanxi Construction Engineering Group, a reputable Chinese company known for large-scale infrastructure development. The bridges will introduce grade-separated crossings, helping to streamline vehicle flow while improving pedestrian safety. This is part of a broader national effort to upgrade key roadways and support urban mobility.
Beyond easing traffic, the new bridges are expected to stimulate economic activity by improving access to markets, public services, and neighboring communities. The initiative signals a commitment to sustainable urban planning and is seen as a major step forward in Liberiaโs infrastructure development agenda.
Photo Credit: LNTV ย
