MT - Liberia's government to review ArcelorMittal concession agreement

Liberia will review its iron ore concession agreement with ArcelorMittal (NYSE:MT) as well as other concessions signed by the country's current and previous governments, its Parliament speaker said on Thursday, according to Reuters. The move could disrupt ArcelorMittal's (MT) plans to triple its iron ore production in Liberia and stay in the country for at least 25 more years, as stipulated in a mineral development agreement the company has been trying to get ratified. The company has said it was "concerned" about the ratification process for the MDA, which would be its third in Liberia since the first one it signed in 2005. ArcelorMittal (MT) shares look undervalued below the low-to-mid-$40s, but there are outsized company-specific risks, Stephen Simpson writes in an analysis published on Seeking Alpha.

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Liberia's government to review ArcelorMittal concession agreement