Ivanhoe Atlantic Inc. has reshaped its leadership as it moves toward construction of the Kon Kweni ultra‑high‑grade iron‑ore project in Guinea, naming retired US Ambassador J. Peter Pham Executive Chairman and Interim Chief Executive Officer and appointing three new non‑executive directors with U.S. policy and finance backgrounds.
The appointments — Erik Bethel, Samantha Carl‑Yoder and Daniel Pfeffer — replace Patrick Tsang, Ken Lau and Robin Sandenburgh and signal a strategic shift toward U.S. capital markets and alignment with U.S. critical‑minerals policy.
The company said future capital raising will be primarily focused on U.S.‑aligned investors to fund the Kon Kweni development.
The leadership changes follow a key infrastructure milestone: Liberian legislative ratification of a Concession and Access Agreement that gives Ivanhoe Atlantic access to multi‑user rail and port infrastructure in Liberia, enabling the company’s plan to ship iron ore from Guinea to the Port of Buchanan for delivery to U.S.‑aligned markets.
Ivanhoe Atlantic aims to begin production in the first half of 2027 and is pursuing permits and regulatory approvals required to start construction.
Kon Kweni is an advanced deposit in southeast Guinea, near the Liberian border. Ivanhoe Atlantic reports 751.9 million tonnes of Direct Ship Ore, including 209 million tonnes of high‑grade ore (>67% Fe).
The project is operated by Société des Mines de Fer de Guinée (SMFG), 85% owned by Ivanhoe Atlantic and 15% by the Government of Guinea.
The company estimates the mine could generate roughly $16.7 billion in government revenues over its lifecycle.
In Liberia, Ivanhoe Atlantic plans to expand capacity on the Yekepa–Buchanan railway and Buchanan Port to support up to 30 million tonnes per annum of iron‑ore exports.
Under the Concession and Access Agreement, the company would be the rail line’s first multi‑user customer.
Liberia is establishing a National Rail Authority to oversee the corridor. The Liberian legislature ratified the agreement on December 18, 2025.
Chairman Pham, a former U.S. special envoy with a personal ambassadorial rank granted by President Donald J. Trump, said the new board members “expand our capacity to navigate a complex operating environment in West Africa and across the globe,” and emphasized the company’s commitment as an American firm to develop strategic mineral projects.
Erik Bethel, who was nominated by President Trump for senior roles including at the World Bank, highlighted the importance of supply‑chain security and disciplined governance. Samantha Carl‑Yoder, a longtime State Department official who held senior roles across administrations, and Daniel Pfeffer, a critical‑minerals investment professional, also joined the board.
Ivanhoe Atlantic acknowledged the departure of former CEO Bronwyn Barnes and thanked her for her tenure.
Analysts said the reshuffle and U.S.‑focused financing strategy position Ivanhoe Atlantic to tap investors prioritizing critical minerals security.
Next steps for the company include securing final regulatory approvals, advancing rail and port expansion agreements, and launching a U.S.‑focused capital raise to fund construction.
More information on Ivanhoe Atlantic’s newly appointed board and management personnel
- Peter Pham served as the United States Special Envoy for the Great Lakes (2018 2020) and Sahel (2020-2021) Regions of Africa, with the personal rank of U.S. Ambassador granted by President Donald J. Trump.
He is also a Distinguished Fellow at the Atlantic Council, a Senior Advisor at the Krach Institute for Tech Diplomacy at Purdue University and a Ben Franklin Fellow.
Pham was previously Vice President for Research and Regional Initiatives at the Atlantic Council as well as Director of the Council’s Africa Centre. He is the author of several books and more than 350 articles, essays and reviews on African politics, security, and economic issues.
He currently also serves as a Non-Executive Director of Africell Global Holdings and of Rainbow Rare Earths as well as a strategic advisor to several other companies, with a particular focus on managing geopolitical risk and developing business in Africa.
Erik Bethel is a global finance professional with extensive experience in both the private and public sectors. In 2020, he was nominated to serve as the U.S. Ambassador to the Republic of Panama. Previously, he was nominated by President Donald J. Trump and confirmed unanimously by the Senate to represent the United States at the World Bank.
During his tenure, Mr. Bethel participated in the analysis and deployment of over $100 billion in capital across the developing world through grants, loans, equity investments, and other financial products.
Mr. Bethel’s private-sector career has centered on emerging markets, with a focus on natural resources and mining. He served as a managing director at Franklin Templeton Investments, where he executed private equity transactions in Latin America. Prior to this, he was based in Shanghai, China, as Managing Partner of SinoLatin Capital and Managing Director of ChinaVest.
Samantha Carl-Yoder is the co-chair of the international and critical minerals practices at Brownstein Hyatt Farber Schreck. In her nearly 20 years of service at the U.S. State Department, she worked in both Washington, D.C. and embassies across the world to build strategic partnerships for companies expanding domestically and overseas.
Prior to joining the private sector, she served as a foreign service officer in Indonesia, Peru, Myanmar (Burma) and Brazil. She also held senior positions in the Trump and Obama administrations, including chief of staff to the Undersecretary for Political Affairs at the State Department, chief of staff to the Assistant Secretary of State at the Bureau of Energy Resources and as a senior advisor to two deputy secretaries. Samantha is also on the board of the Atlantic Council and the U.S. Chamber of Commerce’s U.S. Africa Business Council.
Daniel Pfeffer has spent the majority of his career in the global critical minerals space, with technical, financial and managerial experience across a variety of operating and investment roles. Mr. Pfeffer currently serves as Chief of Staff to the Office of the Chairman at I-Pulse Inc. Prior to that he was a partner at New York-based hedge fund Bornite Capital.
Mr. Pfeffer ran metals and mining investments at Point72 in Connecticut and served in the Natural Resources Fund at 3G Capital in New York. Before his buyside experiences, he was an investment banker in Morgan Stanley’s Basic Materials Group in London and worked as an exploration geologist.
