ArcelorMittal Liberia Hits Jackpot

-Named Highest Taxpayer In Liberia For3 Years Running 

MONROVIA-The Liberia Revenue Authority has again named ArcelorMittal Liberia (AML) as the country’s largest taxpayer for the year 2022.

AML was declared the Highest taxpayer overall in the year 2022, surpassing Orange GSM Company and Monrovia Club Breweries which are among the leading contributors to the national tax envelope. 

 In the face of an ever-changing global iron ore price, the third straight year in running that the steel giant has been named the biggest taxpayer in Liberia.

ArcelorMittal Liberia is a subsidiary of ArcelorMittal group, the world’s leading steel and mining company and the leader in all major steel markets such as construction, domestic appliances, packaging and automotive. 

AML was named the overall highest contributor of the year at the Liberia Revenue Authority Annual Taxpayers Appreciation Dinner and Awards Night held at the Ellen Johnson Sirleaf Ministerial Complex in Monrovia.

 Making the announcement, LRA Commissioner General- Thomas Doe Nah said the presentation of the award was one of the most important aspects of the event.

“I have been asked to announce the awardees for our gold, silver, and bronze categories. These awardees are the big of the biggest” Nan said.

ArcelorMittal Liberia won gold for the highest amount of money paid to the government in taxes followed by Monrovia breweries, bronze winner, and orange Liberia, silver.

ArcelorMittal’s award was presented by Molewuleh B. Gray, Chairman of Liberia’s National Investment Commission, who congratulated the company on securing the top taxpayer spot.

He also added, “this is not your first time (referring to ArcelorMittal) to be the highest contributor so they relationship between the private sector and the government is a symbiotic one- meaning we rely on the private sector and the private sector also relies on the government” 

“I would just like to congratulate on behalf of the National Investment Commission and in my own name I would like to congratulate ArcelorMittal for being the highest contributor”

 The Chairman of the National Investment Commission said AML’s contribution was at the APEX of all other contributions during the year 2022 and that he was proud.

ArcelorMittal Government relations manager Marcus Wleh received the LRA prestigious highest taxpayer award on behalf of the company. In his response, after the many positive statements, Mr. Wleh posited that the company was honored to be recognized by the LRA for its contributions to the development of Liberia. 

He added, “We don’t see the payment of higher taxes as a giving. These things are a function of an enabling business environment, and we want to thank the national Investment commission for making it possible for us to do business” he said. 

 Since its entry into Liberia’s Mining sector, ArcelorMittal Liberia has invested more US$1.7 billion into the Liberian economy through mining and logistics operations and is posed to increase its investment portfolio to almost US$3 billion when its amended Mineral Development Agreement (MDA) is ratified. 

This is a Foreign Direct Investment which has fostered and continues to maintain economic growth in Liberia as a means of financing the construction of new infrastructure and the creation of thousands of jobs for Liberian workers.

 By its partnership with the Government and people of Liberia, AML has repeatedly demonstrated how proud it is of its contributions and the positive impact those efforts have had on the Liberian economy.

Last year, ArcelorMittal and the Government of Liberia signed a landmark amendment to the company’s Mineral Development Agreement for the securing an additional US1.2 billion which paves the way for the expansion ArcelorMittal’s mining and logistics operations in Liberia. 

In its new phase, ArcelorMittal Liberia will produce premium iron ore, generate valued new jobs and wider economic benefits for Liberia.

This is because as AML’s CEO Josephus Coenen, CEO, of ArcelorMittal said recently, the “project encompasses processing, rail, and port facilities and is one of the largest mining projects in West Africa with a capital investment of over a billion United States Dollars”.

The CEO while donating $275 thousand to enable the holding of the 2022 National County Sports Meet emphasized that “With our Phase Two expansion project, nearly 3000 jobs are being created now during the construction phase, with Liberians filling most of these roles.

Josephus Coenen was right when he said “we come a long way as a company and as the Government, and we are proud of our partners with Liberia” because, since the end of war, no foreign business has positively impacted Liberia equal to or more than ArcelorMittal. 

We are proud of the progress accomplished together with the Government and are confident that much more can be achieved. ArcelorMittal is here for the long haul 

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