U.S. firm Ivanhoe Atlantic Inc. agrees mining concession and railway access agreement with the government of Liberia on the heels of President Donald Trump’s five-state African summit in Washington.
The agreement will enable the billionaire Robert Friedland’s company transport products from its Lola Iron Ore Project in Guinea, while undertaking mining activities in Liberia.
The U.S. Embassy in Monrovia Monday confirmed the deal on its Facebook platform, saying the agreement would bolster the West African nation’s economy.
“This estimated $1.8 billion deal is a crucial step towards President Boakai’s objectives of developing Liberia’s multi-user rail policy and securing new international investment,’ said.
“By increasing U.S. investment in Africa, we drive mutual prosperity and support Liberia’s move from aid to trade.”
Previously HPX, Ivanhoe has been locked in a six year negotiation with Liberian authorities for its mining project, which focuses mainly on access to the country’s lucrative railway that would ease transport of its iron ore from mines in neighboring Guinea.
“The proposed Liberia – Guinea Corridor is the shortest and most direct export and import route from the iron-rich Nimba district to the seaborne international market, which provides superior logistics and significantly lower carbon emissions than the alternative transport routes,” Ivanhoe Chief Executive Officer Bronwyn Barnes said in August 2023.
The company seeks to develop the Kon Kweni Project in Guinea, anticipating an initial production capacity of 2-5 million tons per annum of iron ore.
In Nov. 2023, following President Joseph Boakai win, Ivanhoe applied for the acquisition of the St John River North and South mining region previously held by BHP Billiton. According to the United States Geological Survey this area contains iron ore resource exploration target of approximately 650 million tons.
Liberian authorities have not publicly commented on the deal likewise Ivanhoe.
President Boakai amongst five African Presidents invited by U.S. President Donald Trump to attend the African Leaders Summit from July 7 to 11, 2025, departed Monrovia Monday accompanied by the minister of finance, and Chairman on National Investment Commission and National Security Advisor.
“During the Summit, President Boakai will hold bilateral discussions with President Trump and other senior U.S. officials on a range of critical issues including economic development, governance, security, energy cooperation, and democratic consolidation,” a statement published on the presidency facebook account said.
“The visit will also focus on reinforcing Liberia’s long-standing partnership with the United States and strengthening new areas of collaboration in health, education, and infrastructure.”
