by CPNTV
Monrovia, Liberia – In a landmark move for the national economy, Liberia’s House of Representatives has overwhelmingly passed the Third Amendment to the ArcelorMittal Liberia (AML) Mineral Development Agreement. On January 21, 2026, the 55th Legislature voted 51 to 1 in favor of the deal, following a rigorous review process that lawmakers say has finally addressed long-standing concerns over infrastructure and national sovereignty.
A Stronger Financial Deal
The revised agreement marks a significant fiscal upgrade from previous versions. Deputy Finance Minister Anthony G. Myers highlighted several immediate and long-term financial windfalls:
- $200 Million Signature Bonus: A one-time payment to the government within 30 days of ratification.
- Increased Royalties: A 4.5% monthly royalty and an additional 5% “super-royalty” during high-yield periods.
- Modernized Fees: The annual mining license fee will jump from $50,000 to $500,000 starting in 2031.
Empowering Liberians
The amendment shifts the focus toward local participation and job security. A key victory in the negotiations includes a 67% increase in the Community Development Fund, now totaling $5 million annually for Nimba, Bong, and Grand Bassa counties.
Structural changes also ensure Liberians are at the helm:
- Executive Leadership: At least one of the four top management positions (CEO, CFO, COO, CAO) must be held by a Liberian within the first year.
- SME Priority: AML is now legally obligated to prioritize Liberian-owned businesses for goods and services.
- Education & Training: The deal funds a new Vocational Training Center in Grand Bassa, provides $500,000 annually for technical scholarships, and supports the University of Liberia’s Mining Institute.
The Turning Tide in the House
The passage signals a major shift in legislative sentiment. Many lawmakers who previously blocked the deal, including Representatives Matthew Joe and Taa Wongbe, cited the removal of rail exclusivity and enhanced infrastructure commitments as the reasons for their change of heart.
“This agreement takes into account many of the issues we raised, including community welfare and infrastructure development,” noted Rep. Foday Fahnbulleh, Chairman of the Joint Committee.
What’s Next?
The Bill has now been forwarded to the Liberian Senate. The Senate will conduct its own committee reviews and debates before deciding whether to concur with the House’s decision or propose further amendments.