WILMINGTON, Delaware – The Trump administration has issued an official statement in support of the independently operated multi-user railroad in Liberia, a senior African State Department adviser, confirming the official position of the US government.
“Reliable infrastructure is key to sustainable development. In Liberia, President Boaches are working to establish a multi-user railway managed by independent operators who create new economic opportunities for the people of Liberia and attract US investors. Ivanhoe Atlantic signed negotiations with the Liberian government on April 18, 2025, on a Railway Access Agreement (“Contract”) with the Liberian government. The final approval of the contract’s neighbourhood Guinea creates further mining, agriculture and industrial opportunities for shared multi-user rail infrastructure.
Ivanhoe Atlantic Inc. welcomed the comment in a post on social media platform X by Massad Boulos, a senior African State Department advisor that supports multi-user rail infrastructure managed by independent operators in Liberia.
Boulos confirmed the official US government position and congratulated him on the significant advances he has made in moving Liberia’s existing infrastructure since October 2024 to a multi-user model overseen by government-appointed independent operators. The existing railway infrastructure is currently controlled by Indian mining rights. The model proposed by President Boaches in Executive Order 136 released in October 2024 ensshrines principles of fairness, equality and transparency, and the formation of national railway authorities (a new government agency that oversees the appointment of independent operators), which attracts additional users to the line.
The statement by Bolos was further echoed and reposted by the US Embassy in Liberia as a confirmation of US State Department A.
Government policy stance on the issue of multi-user rails and independent operators for infrastructure supporting critical mineral projects across Africa.
Ivanhoe Atlantic Concession and Rail Access Contract
Ivanhoe Atlantic today announced that it has concluded its final negotiations with the Inter-Minister Concession Committee (“IMCC”), detailing all legal, technical and financial terms in the agreement to allow commercial use of Yekepa in Buchanan Railway Infrastructure.
The agreement provides for exports of up to 30 MTPA using the existing Liberian Railway and port infrastructure and will undergo a final review by the IMCC before being transferred to President Joseph N. Boachey for final approval. Once signed, the railway contract will be submitted to the National Assembly for ratification.
Statement by President and CEO Bronwyn Burns
“It’s fun to see that Boros of Monrovia, the State Department and the US Embassy all support President Boaches all of his commitment to multi-user infrastructure operated independently to international standards. As an American company, we are working very closely with the current US administration to ensure a safe and transparent mineral supply.”
“We have made great strides in our railway access agreement with the Liberian government over the past few months and look forward to closing this agreement in the coming days.
I am extremely grateful to President Boaches and his administration for their continued support and commitment to entering into negotiations. It is also their deep commitment to ensure that Liberia realizes the full economic and social value of their infrastructure. I look forward to working in a partnership with the Liberian government, which will be appointed as an independent railway operator with the National Railways Bureau when the Liberian government is elected. These strategic changes to the way Liberia manages critical national infrastructure will bring generational benefits to the people of Liberia and clearly provide strong financial benefits from multiple users in the future. ”
Financial proposals and economic impacts
Ivanhoe Atlantic has submitted a comprehensive proposal to the Liberian government, bringing significant domestic revenues from the use of Liberia’s existing railway and port infrastructure.
Liberia’s 25-year expected fiscal package will be affected by US$1.4 billion rail user fees for transporting iron ore through Liberia, forecasted US$600 million other tax and fees, US$175 million in three counties in Liberia, a significant increase in rail activities and a significant increase in infrastructure work at railways and other ports. Investments of this size are expected to create more than 500 more direct employment opportunities during construction, and acquire up to 3,000 indirect roles. Additionally, products and services suppliers are expected to have multiple local downstream economic opportunities.
On the immediate terms, upon ratification of the railway agreement, Ivan Ho Atlantic agreed to pay the Liberian government USD 35 million in budgetary assistance, including financial support for the establishment of national railway authorities. This is in addition to the US$37 million already paid to Liberia by Ivanhoe Atlantic under the framework agreement for 2022.
Expansion of existing multi-user rails and liberty corridors
President Boakai’s strategic commitment to multi-users is a shared user infrastructure corridor that creates a framework for independently operating rail and port infrastructure to expand existing infrastructure to world class.
As part of a long-term consideration, future evaluation studies are planned to evaluate upward cases of dual-tracking existing railways with modern railway lines with potential product exports via new ports. Additionally, the expansion of the existing hydroelectric network from Ivory Coast to the Nimba region of Liberia and Guinea, the upgrade of the existing road network to all-weather roads, and the implementation of the fiber-optic telecommunications cable connecting Liberia to the NIMBA region are all considered part of the Liberty Circuit Project. The vision for the Liberty Corridor is to commit to bringing multifaceted development benefits to West Africa, including the possibility of attracting more users from Guinea, Ivory Coast and other neighboring countries, including the possibility of unlocking local mineral wealth, unlocking regional mineral wealth, and attracting more users from regional exporters.
The Libertic Corridor is planned to be similar to the Lobito corridor connecting Zambia to the Democratic Republic of the Congo through a shared railway and transport link to the Port of Rovia in Angola. The project is built with significant financial support from the US, the European Union and highly regarded international investors. Like the proposed free corridor linking Guinea and Liberia, such projects support multiple African countries by unlocking the economic potential of the region.
About Ivan Ho Atlantic
At Ivanhoe Atlantic, we bring a global view on the development of valuable assets. The first focus is to make Kon Kweni a highly basic iron ore project into staged production. Further growth will be covered by Kon Kweni’s expansion and multi-user strategic infrastructure partnership opportunities.
Located in Guinea, Kon Kweni is a rare iron ore deposit that benefits from exceptional grades and low impurities. Unique sediment properties and proximity to the market support the possibility of reducing the carbon strength of the product, providing niche green iron to support the production of low-emission steels, and enjoying low operating costs.
For more information about Ivanhoe Atlantic and its projects, please contact:
Jeremy McManus: Representative General Manager Investor Relations, Ivanhoe Atlantic Jeremy.mcmanus@ivanhoeatlantic.com
media@ivanhoeatlantic.com
www.ivanhoeatlantic.com
