Is Liberia Really Benefiting Fairly From ArcelorMittal's Deal?
IS LIBERIA REALLY BENEFITING FAIRLY FROM ARCELORMITTAL'S DEAL?
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Liberia's own Minerals and Mining Law, Section 17.4, sets mineral
royalties at three to ten percent. That is documented. It is the law.
But CorporateWatch Liberia asks: is three to ten percent even a fair
amount for the sale of our resources? These resources do not grow
back. Once the ore is gone, it is gone.
CorporateWatch Liberia's position, stated by our founder, is that
Liberia keeps only two to ten percent of the value, while
ArcelorMittal takes ninety to ninety-eight percent.
And it is not only ore. The nation's resources — the land, the
forests, the water, the railway, the port — are being given away, and
in some cases auctioned, while the people who own them watch the
wealth leave.
The full fiscal terms are not published. The international
transparency body rates Ar...