The occasion marked the
This time of the year, the LRA awards taxpayers in various categories for being tax compliant.
AML which started operation in 2004 but commenced actual shipment of ore in 2011, its amended Mineral Development Agreement is before the national legislature for ratification.
When the agreement is ratified, it will meaningfully ramp up production of premium iron ore, generating significant new jobs and wider economic benefits for
ArcelorMittal Liberia won "gold" in the category of "Highest Contributor Overall", ranking first ahead of
Announcing the winner, Cllr
According to her, ArcelorMittal was awarded the highest tax payer in the
"Our taxpayers have made us proud, they have really made the LRA stand out among all government entities and we are very proud of your support," she announced.
After the announcement, Her Honor, Justice Sie-A-Nyene Gyapay Yuoh presented the certificate and expressed pleasure to be at the event.
She then encouraged all citizens and non-citizens to be tax compliant.
"We have to be compliant and for where I sit as one of those who says what the law is, I will encourage all of us, me included to pay our taxes," she said.
Mahamar Haidara, the Interim Chief Executive Officer and Chief Financial Officer of ArcelorMittal Liberia received the award on behalf of the company.
According to records, almost
The Government of
It encompasses processing, rail and port facilities - and is expected to be one of the largest mining projects in
The expansion project AML said will include the construction of a new concentration plant and "substantial expansion of mining operations, with the first concentrate expected in late 2023, ramping up to 15 million tonnes per annum ('mtpa')".
Under the agreement the company will have reservation for expansion for at least up to 30mt, invest for additional rail capacity and provide more than 2000 jobs
As the largest foreign investor in
Commenting on the agreement at the time, President
ArcelorMittal is a multinational steel manufacturing corporation headquartered in Luxembourg City. It was formed in 2006 from the takeover and merger of Arcelor by Indian-owned
It is the second largest steel producer in the world, with an annual crude steel production of 78.5 million metric tonnes as of 2018. It is ranked 120th in the 2019 Fortune Global 500 ranking of the world's largest corporations.
0 85
Share
Copyright The New Republic Liberia. Distributed by AllAfrica Global Media (allAfrica.com)., source