A US-backed iron ore developer backed by billionaire Robert Friedland has cleared a major regulatory hurdle in West Africa, positioning one of the region’s largest untapped iron ore projects closer to production even as it faces leadership changes and geopolitical scrutiny.
- Ivanhoe Atlantic’s Kon Kweni iron ore project in West Africa received formal approval of its Environmental and Social Impact Assessment from the Liberian government, moving it closer to production.
- Ivanhoe Atlantic’s $1.8 billion Liberty Corridor deal positions the project as a Western-aligned supply route and competitor to China-backed Simandou, targeting markets outside China.
- The company has faced US scrutiny over alleged Chinese ties, which it strongly denies, maintaining its commitment to US-aligned supply chains and national security.
- The project involves developing transport and logistics infrastructure, including rail upgrades and improvements to Buchanan port, to link Guinea’s iron ore to export markets.
Ivanhoe Atlantic Inc. said the Government of Liberia has formally accepted its Environmental and Social Impact Assessment (ESIA) for Phase One transport and logistics infrastructure supporting the Kon Kweni ultra high grade iron ore project.
The ESIA, prepared by Liberian consultant Earthtime Group and vetted by the country’s Environmental Protection Agency, covers multi user rail upgrades and the Buchanan port, alongside logistics infrastructure linking Guinea to export routes.
“This approvals milestone in Liberia is a testament to the dedication and thoroughness demonstrated by our Ivanhoe Atlantic team and our specialist partners,” said retired US Ambassador J. Peter Pham, Executive Chairman and Interim CEO.
He added that the company remains committed to environmental stewardship, community wellbeing and developing infrastructure that creates long term value for Liberia.
Corridor deal and China rivalry
In July 2025, the US Embassy in Liberia facilitated a $1.8 billion concession deal between Ivanhoe Atlantic and the Liberian government to develop the “Liberty Corridor”, linking Guinea to the Port of Buchanan.
However, the project enters a space dominated by China-backed investments, particularly the Simandou iron ore project, one of the world’s largest iron ore developments where Chinese firms control key infrastructure.
While Simandou is geared towards supplying China, Ivanhoe Atlantic is positioning its project as part of a Western-aligned supply chain, using Liberia-based routes to target markets outside China.
Deal builds on years of negotiations
The latest approval builds on months of progress following the concession agreement.
In December 2025, Liberia’s legislature ratified a Concession and Access Agreement granting Ivanhoe Atlantic access to the country’s rail and port network after negotiations that lasted nearly five years, according to a Bloomberg report.
At that time, the company had secured approval of its ESIA scoping report and Terms of Reference from Liberia’s Environmental Protection Agency and was finalising a parallel ESIA process in Guinea.
The Kon Kweni project, located in southeast Guinea near the Liberian border, is described as a world class deposit with more than 750 million tonnes of Direct Ship Ore.
Ivanhoe Atlantic holds an 85 per cent stake, with the Government of Guinea owning the remaining 15 per cent.
Phase One is expected to support exports of 2 million to 5 million tonnes annually, with capacity to scale to 30 million tonnes.
US scrutiny and supply chain positioning
The project has also drawn scrutiny from authorities in the United States over perceived links to the Chinese Communist Party, reflecting wider geopolitical tensions around critical minerals.
Ivanhoe Atlantic has rejected the claims, stating it is separate from Ivanhoe Mines and describing suggestions of Chinese influence as “grossly incorrect and misleading.”
At the same time, the company has positioned the project within US-aligned supply chains. Barnes ранее said: “None will go to China, and as an American company committed to U.S. national security, we will not export through China’s Trans-Guinean Railway.”
CEO exit and leadership transition
The development comes weeks after Bronwyn Barnes, President and CEO of Ivanhoe Atlantic, resigned after four years at the helm.
While the company has not disclosed the reasons for her departure, the move marks a leadership transition at a critical stage of the project, with Pham stepping in as interim CEO.
