Proposed operating rules linked to ArcelorMittal Liberia’s (AML) revised Mineral Development Agreement (MDA) have raised alarm among investors, lawmakers and industry experts, who say the measures would give the steelmaker outsized control of the Yekepa–Buchanan rail line and could deter future investment.
The Rail System Operating Principles (RSOPs), submitted as part of the MDA package, would—if adopted in their present form—impose binding obligations on all current and future users of the rail corridor without prior consultation, consent or legislative ratification.
Critics say the arrangement effectively ties sovereign decision-making to rules set by a single private operator, a structure some observers have called a “state within a state.”
Key concerns center on several structural features of the RSOPs. AML would retain unilateral authority to amend the principles without parliamentary approval.
Decision-making influence on operational matters would be weighted by user capacity, a formula that entrenches incumbent advantage by forcing new entrants to make large capital investments before gaining meaningful influence.
A stipulated capacity threshold—identified in the RSOPs as 5 metric tonnes per annum—would govern any transition from AML’s control, putting the timing of handover outside government control and creating the potential for prolonged instability and disputes.
Further compounding investor unease, the RSOPs are set to terminate with the AML MDA. Legal experts warn that if AML opts to withdraw or alter its commitments prior to the concession’s scheduled end in 2050, the entire operating framework for the rail line could be undermined, exacerbating uncertainty for other users.
The terms also appear to grant AML preferential expansion rights, contradicting the equal-access principles expected for multi-user national infrastructure.
Industry and policy advocates are urging immediate amendments to ensure the RSOPs function as neutral guidelines that support a competitive, open-access rail regime.
Recommended changes include detaching the RSOPs from MDA ratification, instituting a neutral and transparent drafting process with participation from all ratified concessionaires, and placing amendment and oversight authority with the Liberian government or an independent regulator.
“Shared national infrastructure cannot be governed by a single private actor,” said one analyst. “Without clear legislative oversight and a credible transition plan, investors will look elsewhere.”
The government has been urged to convene a neutral technical working group, freeze unilateral RSOP amendments during negotiations and submit any final operating principles to legislative or regulatory review to restore investor confidence and protect national oversight.
