Getting a Better Deal from the Extractive Sector: Appendix VII

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In 2006, the government of Liberia conducted a review and renegotiation of its contracts with the Firestone rubber company and the ArcelorMittal steel company. The resulting amended contracts offered Liberia significant gains in areas from taxes and corporate governance rules to environmental and social issues such as housing and education. The amended contracts were embraced not only by Liberia's legislature and general public, but also by Firestone and ArcelorMittal.

The Revenue Watch report "Getting a Better Deal from the Extractive Sector: Concession Negotiation in Liberia, 2006-2008" demonstrates the need for more equitable terms in natural resource contracts and the pivotal role that the contract process can play in economic recovery and development.

Download and read the full text of the amended ArcelorMittal and Firestone contracts below.

LIBERIA CONTRACTS

• Amended Mineral Development Agreement among the Government of the Republic of Liberia, Mittal Steel (Liberia) Holdings Limited, and Mittal Steel Holdings A.G., December 28, 2006 (pdf, 242 KB)
• Amended and Restated Agreement between the Republic of
  Liberia and Firestone Liberia, Inc., March 31, 2008 (pdf, 1MB)