ArcelorMittal has operated in Liberia for over two decades, managing the country’s most strategic rail asset, the Yekepa-Buchanan Railway. While this responsibility makes the company one of Liberia’s largest private sector employers and a significant contributor to in-country revenue, multiple shortcomings must be examined before its revised mineral development agreement (MDA) is finalized.
For the past two decades, ArcelorMittal has faced substantive criticisms for several environmental violations, failing to deliver key community infrastructure projects in the rail adjacent Nimba, Bong, and Grand Bassa counties, as well as for a sustained lack of transparency around its profits and tax contributions.
Reports also indicate that ArcelorMittal often favors foreign hires with limited local knowledge instead of qualified Liberians. Recurring rail derailments have also strengthened calls for more rigorous oversight. The concern for Liberia is that these shortcomings are mirrored in ArcelorMittal’s international operations, which indicate a warning sign.
In Italy, government-appointed commissioners are seeking €5 billion in damages from ArcelorMittal for allegedly leaving major steel plants in a “state of complete disrepair.” An emergency maintenance program has been launched to restore safe operations and prepare the facilities for a future buyer.
In France, lawmakers recently passed a symbolic motion to nationalize ArcelorMittal’s operations, reflecting growing political frustration with the company’s performance. French trade unions warn that the company’s declining sales, abandoned industrial projects, and unclear climate investment plans are deepening a sector-wide crisis.
In South Africa, the company has announced the closure of its Newcastle steel plant and plans to shut the Vereeniging facility, putting nearly 4,000 jobs at risk. In the UK, it is consulting on making 85 employees redundant from its Chatham Docs site right before Christmas. This dynamic illustrates a familiar pattern across its projects in which local populations absorb economic and social fallout, while global shareholders reap financial gains. ArcelorMittal’s global stock price rose to a 52-week high despite its recent turbulence.
Further controversy has emerged from India, where Mittal Energy, a joint venture partly owned by ArcelorMittal chairman Lakshmi Mittal, was found to have purchased Russian oil transported on sanctioned vessels. The Financial Times investigation, through satellite imagery, shipping data, and customs records, revealed that the refinery had received at least four such shipments worth nearly $280 million in 2024.
As global and domestic controversies mount, stakeholders in Liberia are growing more assertive in demanding that AML’s future concession agreement contain inbuilt mechanisms which prioritize national development, environmental protection, and community welfare – areas where ArcelorMittal’s track record offers limited reassurance.
As Liberia considers its next steps, vigilance is essential amid ArcelorMittal’s global controversies. A company facing mounting challenges abroad and a mixed track record in Liberia must not be granted unchecked influence over strategic national assets. Ensuring Liberia’s concessionaires demonstrate transparency, accountability, and a genuine commitment to local communities is indispensable to the country’s future.
