Liberia: Ivanhoe Atlantic Issues Statement On Leaked Letter and Speaks to Boakai

Ivanhoe Atlantic Inc. acknowledges recent media attention regarding a letter dated May 3, 2025 sent to His Excellency, President Joseph N. Boakai and cc’d to members of the Inter-Ministerial Concessions Committee (“IMCC”). The Company understand that the letter may have caused offence to some of the recipients. The Company confirms that this was never the intent of the letter and apologies for any disrespect that may have been interpreted by its content.

Ms. Barnes has spoken directly with President Boakai today to confirm her respect for his leadership and to express her concern that the letter may have been misinterpreted. The conversation with President Boakai was frank and polite, with both parties expressing a sincere desire to work together collaboratively and with clear focus to conclude the current negotiations with the IMCC.

The Company also notes with concern that the letter, which was not intended to be a public document, was provided to certain media outlets and became the subject of media reporting. Ivanhoe Atlantic can confirm that this disclosure did not originate from any of its team members in Liberia or internationally.

Separately, Ivanhoe Atlantic acknowledges receipt of formal notice from the IMCC on May 9, 2025, withdrawing its earlier communication of April 30 that had designated ArcelorMittal Liberia as exclusive rail operator for the Yekepa – Buchanan railway for a further 25 years. The Company thanks the IMCC for aligning with the clear policy direction of His Excellency President Boakai, who has repeatedly reaffirmed his commitment to an independent, multi-user rail access model following the expiry of the current ArcelorMittal Liberia Mineral Development Agreement (MDA). This is a position strongly supported by Liberia’s international partners, including the United States. Accordingly the matters raised in Ivanhoe Atlantic’s letter of 3 May are no longer issues of concern given the definitive actions taken by the IMCC.

Ivanhoe Atlantic looks forward to building a constructive, long-term, and mutually beneficial partnership with the Government and people of Liberia and to bringing to a conclusion its negotiations with the IMCC.

By Liberian Observer.