cc In the face of the global economic downturn, ArcelorMittal and its Liberian employees and subcontractors are unlikely to reap the benefits of the steel company investment in iron ore production in Liberia any time soon, writes Rebecca Murray of IPS (Inter Press Service). ArcelorMittal met with the approval of watchdog read more
cc In the face of the global economic downturn, ArcelorMittal and its Liberian employees and subcontractors are unlikely to reap the benefits of the steel company investment in iron ore production in Liberia any time soon, writes Rebecca Murray of IPS (Inter Press Service). ArcelorMittal met with the approval of watchdog Global Witness for negotiating ‘a deal that remains profitable and safeguards the interests of the host country and its people’. In the current climate, however, Liberia is reluctant to impose conditions on investors, while contractors are willing to compromise on working conditions, fearful that unionising would put their jobs in jeopardy. The company posted losses of over US$2.6 billion globally in their last quarter.
