MONROVIA – ArcelorMittal Liberia (AML), the country’s largest mining investor, is embarking on a sweeping upgrade of Liberia’s government-owned railway infrastructure—an effort it says demonstrates not only its expansion goals but its unwavering commitment to a shared, multi-user rail system that could reshape the nation’s mining future.
Last week, over two dozen journalists were granted rare access to the company’s operations for a guided tour of the Yekepa-to-Buchanan rail corridor. The tour offered a firsthand look at the ongoing improvements, including the construction of a new railway station in Buchanan and the installation of a sophisticated digital monitoring system that tracks the movement of locomotives in real time.
The tour came amid persistent criticism and skepticism that AML is trying to monopolize the rail line, which is vital for transporting iron ore from the Nimba region to the Port of Buchanan. But ArcelorMittal insists that narrative is not only false—it’s damaging to Liberia’s economic prospects.
“People continue to say we want to block others from using the railway, but that is not true,” said an AML rail operations manager during the visit. “We’ve always supported a multi-user system, but it must be fair, well-managed, and in the country’s interest.”
AML points to its support of the “User-Operator” model proposed under the Third Amendment to its Mineral Development Agreement (MDA)—a model widely adopted in mining powerhouses like Australia, Brazil, and Guinea. Under this system, the operator who invests in and maintains the infrastructure is also responsible for providing access to third parties under government oversight.
A key pillar of this model is the Rail System Operating Principles (RSOP), which Liberia has also endorsed. Under RSOP, a newly established Rail Authority would oversee transparent operations, conduct inspections, and enforce non-discriminatory access for all users. AML has agreed to these principles and asserts that its ongoing investments—now totaling more than $800 million—align with them.
In fact, AML’s willingness to open the rail to other users is codified in its 2021 MDA, which included a clause empowering the Liberian government to revoke AML’s operational role if it were found obstructing third-party access. Despite this, the House of Representatives rejected the amended MDA at the time, citing concerns over perceived monopolistic tendencies.
An independent review of available documentation and interviews conducted for this report suggest those fears may have been misplaced.
“There is no credible evidence that ArcelorMittal has blocked any company from using the rail,” a source familiar with the MDA negotiations said. “What’s been missing is a clear and enforceable framework for how multiple companies can share it.”
The AML team emphasized this point during the rail tour, noting that no company has formally requested use of the railway and been denied. Instead, the holdup appears to lie in policy indecision and the absence of operational readiness from other potential users.
In recent months, proposals to use Liberia’s rail corridor to export Guinean iron ore have gained traction. But AML questions the viability of such plans.
“For more than 40 years, Guinea has declined to export its resources through Liberia,” said one company representative. “Now that they’ve finished the Trans-Guinea Railway, we don’t see that changing.”
In Guinea, the user-operator model has proven successful in the bauxite sector. Mining companies invest in rail and port infrastructure, retain operational control, and are mandated to allow access to other users—mirroring AML’s proposed approach in Liberia. In return, they pay taxes, allocate capacity, and fund infrastructure maintenance, all while fueling national growth.
AML argues that Liberia stands at a similar crossroads. Should the government opt for a model that empowers those who build and sustain the infrastructure, the country could attract billions in new investment. But if the state moves to transfer control to an untested third-party operator, AML warns, it may deter current and future investors altogether.
The stakes couldn’t be higher.
“Who will invest in rails and ports if they don’t know whether they’ll have the right to operate them tomorrow?” asked one AML official. “Liberia needs to give investors confidence that this is a place where long-term investments are protected and rewarded.”
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