Ivanhoe Atlantic Inc. announced that its Concession and Access Agreement (CAA) has been ratified by the Liberian Legislature, granting the company development rights and guaranteed access to Liberia’s multi-user rail and port infrastructure. The agreement allows Ivanhoe Atlantic to transport ultra-high grade iron ore from its Kon Kweni project in Guinea, which is partly owned by the Government of Guinea, to the Port of Buchanan via the Yekepa-Buchanan Rail Line.
The Liberian government, under President Boakai, is transitioning all national rail infrastructure to a multi-user system operated independently. This policy aims to open up opportunities for mining, agriculture, and industrial freight along shared rail lines.
With the CAA now ratified, Ivanhoe Atlantic plans to advance its development program. Environmental impact assessments have already been submitted in both Guinea and Liberia and are currently under regulatory review. Construction is scheduled to begin in the first quarter of 2026.
Ivanhoe Atlantic congratulated President Boakai as well as members of Liberia’s House of Representatives and Senate for their roles in ratifying the agreement. The approval provides final government authorization for Ivanhoe Atlantic subsidiaries—Ivanhoe Liberia Ltd and Société des Mines de Fer de Guinee SA—to transport iron ore from Guinea’s Kon Kweni project using existing rail infrastructure. The project is expected to generate $16.7 billion for the Guinean government over its lifecycle through royalties, taxes, and development fund contributions.
The milestone follows six years of work between Ivanhoe Atlantic and the Liberian government, including a 2019 Implementation Agreement between Guinea and Liberia that established a legal framework for cross-border mineral transport.
Bronwyn Barnes, President & CEO of Ivanhoe Atlantic Inc., stated: “The ratification of our Agreement by the Liberian legislature is fully in line with President’s Boakai’s policy to transition existing Liberian rail infrastructure to multi-user, independently operated system and marks a significant milestone, not just for Ivanhoe Atlantic but for Liberia.
“This opens up a valuable logistics chain to other users in Liberia and neighboring countries, including U.S. aligned companies looking to expand into the region. After more than twenty years, Liberia stands to fully benefit from its own infrastructure, laying the foundations for an expanded critical independently operated multi-user infrastructure corridor connecting West Africa to the Atlantic Ocean.”
“I am very grateful for President Boakai’s leadership and deep commitment to ensuring that Liberia realizes the full economic and social value of its infrastructure. I look forward to working in partnership with the Liberian Government, the soon to be enacted National Railway Authority, and the independent rail operator when they are selected by the Liberian Government. These strategic changes to the way that Liberia manages its critical national infrastructure will deliver generational benefits for the people of Liberia, and will clearly deliver strong financial benefits from multiple future rail-users.”
With this confirmed logistics route secured under a clear technical and financial framework, construction at Kon Kweni moves closer. Next steps include finalizing environmental approvals with both governments; ongoing engagement with Guinea through a joint Technical Committee; supporting formation of Liberia’s National Rail Authority; arranging smooth transition with current operators ahead of independent management by 2030; hiring operational staff; collaborating with local service providers; and expanding partnerships aimed at boosting local content and economic growth.