By Festus Poquie
Ivanhoe Atlantic has moved a step towards launching a $1.8 billion plan to rehabilitate and operate Liberia’s rail corridor after senior company executives met with Vice President Jeremiah Koung to discuss submission of the recently signed Access and Concession Agreement to the National Legislature for scrutiny and ratification.
The July agreement gives the U.S.-listed miner rights to use and restore Liberia’s railway infrastructure to export iron ore from neighboring Guinea.
In a statement on Facebook after the meeting, Henrique Caine, Ivanhoe Atlantic’s country director in Liberia said he and the company’s Vice President and Chief operation Officer – Kevin Mclean discussed President Joseph Boakai’s plan to present the agreement to lawmakers and the company’s “project development and construction plan after ratification.”
Caine said the discussions also covered “highlights in the Agreement, and the broader national considerations for economic growth along the soon to be, vibrant multi-user Yekepa Railway to Buchanan Port Infrastructure Corridor.”
The U.S. Embassy in Liberia has described the deal as “a crucial step toward President Joseph Boakai’s objectives of developing Liberia’s multi-user rail policy and securing new international investment.”
Under that policy, Liberia intends to transition to a multi-user corridor with an independent operator — a framework designed to allow several companies to move commodities via the Guinea–Liberia rail-port corridor once ArcelorMittal Liberia’s mineral development agreement expires in 2030.
For Ivanhoe Atlantic, access to the rehabilitated rail line would provide the shortest export route for ore from its shovel-ready Kon Kweni deposit in Guinea.
Company forecasts cited in the agreement foresee initial annual production of 2 million to 5 million tonnes in a first phase, with a potential ramp-up to as much as 30 million tonnes a year in a later phase.
If ratified and implemented, the agreement could have significant implications for Liberia’s economy and regional logistics. Rehabilitating the Yekepa–Buchanan corridor would not only create construction and operations jobs but could also boost port throughput, generate transit and export revenues, and attract further mining and infrastructure investment to the corridor.
The agreement’s passage now hinges on legislative deliberation and ratification. Only after ratification can the company proceed with detailed construction plans, financing arrangements and a formal timetable for rehabilitation and operations.
The Access and Concession Agreement is expected to spell out operating rights, concession terms, responsibilities for infrastructure upgrades, and the multi-user governance model.
However, specifics on financing structures, exact construction timelines and operator arrangements were not disclosed in the post-meeting statements.
