The Liberian House of Representatives voted overwhelmingly Thursday to approve a Concession and Access Agreement (CAA) that will allow U.S. firm Ivanhoe Atlantic to operate on the 243 km Yekepa–Buchanan rail corridor and invest almost US$1 billion in Liberia’s transport infrastructure.
The agreement, which has the backing of President Joseph Boakai’s administration, follows more than six years of negotiations between the government’s Inter Ministerial Concessions Committee and Ivanhoe Atlantic and builds on a 2021 implementation accord between Liberia and Guinea on shared transport infrastructure. It now moves to the Senate for final ratification.
Under the CAA, Ivanhoe Atlantic would finance rehabilitation and upgrades to the rail line and port facilities in Buchanan, with capital investment planned in two phases. Phase 1 includes about US$64 million for road works to improve access to the rail line, track rehabilitation and port repairs and is expected to create roughly 500 direct jobs during implementation. Initial throughput after Phase 1 is targeted at 2–5 million tonnes per annum (Mtpa) of high-grade iron ore.
Phase 2 envisages approximately US$888 million in further capital expenditure — about US$452 million for additional railway upgrades and US$436 million to expand Buchanan Port — with an eventual export capacity target of up to 30 Mtpa, subject to feasibility studies and regulatory approvals. The company has also discussed a potential deep water port near Didia in Grand Bassa County as part of longer term expansion plans.
While the iron ore will be mined in Guinea, Liberia stands to benefit from transport and evacuation logistics, job creation and third party service contracts for local firms. The agreement could generate an estimated US$60 million a year in rail user fees, dividends, taxes and related revenues for Liberia and is being touted by the government as a potential revenue stream to consider in the 2026 national budget.
Ivanhoe Atlantic has already paid roughly US$37 million to the Liberian Revenue Authority via the Central Bank of Liberia and has committed an additional US$35 million in staged concession payments if the CAA is ratified.
The deal also establishes a Community Development Fund to support communities along the corridor in Nimba, Grand Bassa and Bong counties, with annual contributions starting at US$1 million and rising to US$5 million over five years.
The CAA supports the establishment of an independent National Rail Authority, a policy direction endorsed by Executive Orders No. 153 and No. 136 issued by President Boakai. Company statements say complementary investment of around US$800 million is planned in Guinea to connect the two countries’ trade corridor.
Ivanhoe Atlantic has positioned the project as part of a broader effort to supply high grade iron ore from its Kon Kweni mines in Guinea with an estimated deposit of more than 750 million tonnes to U.S. and allied markets.
The agreement represents the first of its kind in the Mano River Union basin and, if fully implemented, could unlock wider economic benefits across mining, agriculture, freight, manufacturing and services in Liberia. The Senate will now review the CAA before final legislative ratification.
