By: Sampson Weah
CAPITOL HILL – The Liberian Senate has directed its Joint Committees on Concessions, Public Works, and Public Accounts to investigate the actual cost of ArcelorMittal Liberia’s newly constructed iron ore processing plant in Yekepa, Nimba County.
The move follows a formal communication from Senator Nya Twayen.
In his letter to Senate President Pro Tempore Nyonblee Karnga Lawrence and the Senate plenary, Senator Twayen called for an urgent audit of the company’s reported $1.4 billion investment in the facility.
He noted that the project has far-reaching implications for national revenue and Liberia’s long-term economic development.
Twayen highlighted that ArcelorMittal Liberia claims to have invested the $1.4 billion over four years—averaging $350 million annually.
He further expressed concern that the company’s consistent reporting of operational losses—now coupled with the declared capital investment—could potentially exempt it from paying corporate income tax (CIT) for years, or even decades.
