LEITI Report Names ArcelorMittal Top Revenue Contributor In Extractive Sector

Monrovia-Jan-18-TNR: The Liberia Extractive Industries Transparency Initiatives (LEITI) has released its 15th EITI Report grading ArcelorMittalLiberia as the top contributor to government revenue in the extractive sector.

Uncovering key insights into the fiscal period from July 1, 2021, to December 31, 2022, the report disclosed data from post-COVID reconciliation and highlights ArcelorMittalLiberia as making the highest contributions to the government’s revenue in the extractive sector.

At a press conference on Tuesday in Monrovia, the LEITI Multi– stakeholders steering group said ArcelorMittalLiberia successfully contributed a total of US$78 million in government revenue.

Bea Mountain Mining Company and Firestone Liberia Incorporated also made noteworthy contributions of US$37 million and US$17 million, respectively.

This robust financial support from key players like ArcelorMittalLiberia and others underscores the vital role of the extractive sector in bolstering the Liberian economy.

The LEITI report also reveals that the total revenues from the extractive sector during the specified period amounted to US$182.35 million, with ArcelorMittalLiberia Limited contributing a substantial portion of US$78 million.

The 15th EITI report covers 21 companies across mining, forestry, and agriculture, providing a holistic overview of Liberia’s extractive industries. The report includes detailed information on legal frameworks, fiscal regimes, and various aspects of the extractive sector, demonstrating a commitment to transparency.

In addition to financial contributions, the extractive sector played a crucial role in employment, with 12,017 people employed in 2022, representing 0.50% of the country’s labor force. Notably, 21% of these employees were female workers, reflecting strides toward gender inclusivity in the industry.

The report also sheds light on the social and environmental responsibilities of extractive companies, with expenditures totaling USD 34 million during the specified period. This includes mandatory and voluntary social spending, as well as environmental expenses, emphasizing a commitment to sustainable practices.

The Multi-Stakeholder Steering Group (MSG) expressed gratitude that with the 15th EITI Report, Liberia takes a stride towards a more transparent, accountable, and responsible extractive sector, ultimately contributing to the country’s sustainable development.

According to the Liberia Revenue Authority (LRA), ArcelorMittal Liberia has maintained its position as the top contributor in the private sector, making significant contributions to the government’s revenue.

ArcelorMittal Liberia’s substantial contribution of 78 million to government revenue from the extractive sector holds paramount significance for Liberia. This financial infusion plays a pivotal role in addressing critical social problems and fostering development within the country.

Firstly, the revenue contributed by ArcelorMittal enhances the government’s capacity to invest in essential public services, such as education and healthcare.

These fund are allocated to improve schools, infrastructure, and healthcare facilities, thus directly benefiting the citizens of Liberia. This contributes to the overall well-being and development of the nation.

Secondly, the revenue infusion bolsters efforts to alleviate poverty and promote economic stability by implementing targeted social programs and initiatives that aim to uplift disadvantaged communities, providing them with opportunities for sustainable livelihoods. This, in turn, helps to reduce income inequality and create a more equitable society.

Furthermore, the financial support from ArcelorMittal enables the government to address varied concerns associated with infrastructure and sustainable development.

In essence, ArcelorMittal’s contribution to government revenue is instrumental in fostering socio-economic development, enhancing the quality of life for Liberian citizens, and promoting a more sustainable and inclusive future for the nation.

The collaboration between the private sector and the government demonstrates the potential for extractive industries to play a positive role in addressing societal challenges and driving progress in developing economies like Liberia.

  1. Feel freе to surf to my web site – إستكشاف هذا الموقع الموصى به للمتحدثين
    الفارسيين وبناء الروابط (https://pezeshkanomoomigilan.Ir)

  2. Paul says

    Hi there to all, how is the whole thing, I think every one is getting
    more from this website, and your views are good for new

  3. xxx says

    Good blog you have got here.. It’s difficult to find high-quality
    writing like yours these days. I seriously appreciate people like you!
    Take care!!

  4. funcup says

    This is very interesting, You are a very skilled blogger.
    I have joined your rss feed and look forward to seeking more of your
    excellent post. Also, I have shared your website in my social networks!

  5. desi sex download says

    obviously like your web-site however you have to test the spelling
    on quite a few of your posts. Several of them are rife
    with spelling problems and I find it very bothersome to tell the truth
    nevertheless I will certainly come back again.

  6. We absolutely love your blog and find nearly all of your post’s to be just what I’m looking for.
    Do you offer guest writers to write content for you personally?
    I wouldn’t mind producing a post or elaborating on many of the subjects you write about here.
    Again, awesome site!

    My site; สาระน่ารู้ทั่วไป

  7. vidio bokep terbaru says

    whoah this weblog is magnificent i really like reading your posts.
    Keep up the great work! You know, a lot of persons
    are searching around for this info, you can aid them

  8. xxxhd says

    excellent publish, very informative. I’m wondering why the other specialists of this sector don’t notice this.
    You must continue your writing. I am sure, you have a great readers’ base

  9. Barak4d says

    What’s up to every one, it’s genuinely a good for me to pay a
    quick visit this web page, it includes important Information.

  10. xxxbp says

    Hmm is anyone else encountering problems with the pictures on this blog loading?
    I’m trying to find out if its a problem on my end
    or if it’s the blog. Any feed-back would be greatly appreciated.

  11. Paito Sdy says

    What’s up, just wanted to say, I loved this article. It was funny.
    Keep on posting!

  12. سئو سایت لباس says

    I was suggested this website via my cousin. I am now not sure
    whether this publish is written by him as nobody else know such special about my difficulty.
    You are wonderful! Thanks!

  13. y2mate says

    Hello there, I found your website by means of Google at the same time as looking for a related topic, your site got here up, it seems good.
    I’ve bookmarked it in my google bookmarks.
    Hello there, just was alert to your weblog through Google,
    and located that it is truly informative. I’m gonna
    watch out for brussels. I will be grateful for those who proceed this in future.
    A lot of folks will be benefited out of your writing.

  14. citrus says

    Why visitors still use to read news papers when in this
    technological world all is presented on net?

  15. cbd oil says

    This article is in fact a fastidious one it assists new internet viewers,
    who are wishing in favor of blogging.

  16. Casibom Güncel Giriş says

    It’s amazing to visit this web page and reading the views of all friends concerning this article, while I am also
    zealous of getting experience.

  17. joyp says

    Thanks very interesting blog!

  18. sarang777 says

    Thank you for the auspicious writeup. It in fact was a amusement account it.

    Look advanced to far added agreeable from you! However, how could we communicate?

  19. I am sure this paragraph has touched all the internet users, its really really good
    post on building up new blog.

    Review my web site :: เกร็ดความรู้

  20. onep says

    Your style is very unique compared to other people I have read
    stuff from. I appreciate you for posting when you’ve got the opportunity,
    Guess I’ll just book mark this blog.

  21. https://midassarmaye.com says

    I blog frequently and I really appreciate your content.
    The article has truly peaked my interest. I’m going to bookmark your blog and keep checking
    for new details about once per week. I opted in for your RSS feed too.

  22. Office Concept Furniture says

    Right here is the perfect site for anyone who would like to find out about this topic.
    You realize a whole lot its almost hard to argue with you
    (not that I really will need to…HaHa). You definitely put a fresh spin on a subject which has
    been discussed for years. Great stuff, just great!

  23. milf300 says

    Your style is unique compared to other people I have read stuff from.
    Thanks for posting when you’ve got the opportunity, Guess I will just bookmark this site.

  24. https://asiafinancial.com says

    Hello my friend! I wish to say that this post is awesome, nice written and come
    with almost all significant infos. I would like to look extra posts like this .

  25. ceria777 says

    Yes! Finally something about ceria777.

  26. Forum Syair Cambodia says

    Incredible! This blog looks just like my
    old one! It’s on a totally different topic but it has pretty much the same page layout and design. Superb choice of colors!

  27. پرس هیدرولیک says

    This web site certainly has all of the information I wanted concerning this subject and didn’t know who to ask.

  28. https://cach3.com says

    Hello! I just wanted to ask if you ever have any problems with hackers?
    My last blog (wordpress) was hacked and I ended up losing several weeks of
    hard work due to no data backup. Do you have any solutions to protect
    against hackers?

  29. Nervogen Pro says

    Very nice post. I just stumbled upon your blog and wanted to say that I
    have really enjoyed browsing your blog posts.
    After all I will be subscribing to your rss feed and I hope
    you write again very soon!

  30. togel online says

    Do you have a spam issue on this blog; I also am a blogger, and
    I was wondering your situation; we have developed some nice methods and we
    are looking to trade methods with other folks, why not shoot
    me an e-mail if interested.

  31. Online poker says
  32. markastoto togel facebook says

    Hey I know this is off topic but I was wondering if you knew of any widgets I could add
    to my blog that automatically tweet my newest twitter updates.
    I’ve been looking for a plug-in like this for quite some time and
    was hoping maybe you would have some experience with something
    like this. Please let me know if you run into anything.
    I truly enjoy reading your blog and I look forward to your new updates.

  33. foxp says

    Thanks , I’ve recently been searching for info about this subject for ages and yours is the greatest I have
    found out till now. But, what concerning the bottom line?
    Are you positive about the source?

  34. login ceria777 says

    Heya excellent blog! Does running a blog such as this take a great deal of work?
    I’ve very little expertise in computer programming but I had been hoping to start my own blog in the near future.
    Anyways, if you have any ideas or tips for new blog owners please share.
    I understand this is off topic nevertheless I simply had to ask.
    Thanks a lot!

  35. Bocoran HK Malam ini says

    Just desire to say your article is as astonishing. The clearness in your
    post is just nice and i could assume you’re an expert on this subject.
    Fine with your permission let me to grab your feed to keep updated with forthcoming post.

    Thanks a million and please continue the enjoyable work.

  36. AMPERA4D says

    This is very interesting, You’re a very skilled blogger.
    I have joined your feed and look forward to seeking more of your fantastic post.
    Also, I’ve shared your site in my social networks!

Comments are closed.