Liberia: Legislature Commences Ratification Process of Ivanhoe Atlantic Agreement

The Liberian Legislature has formally commenced the ratification process of the landmark Concession and Access Agreement (CAA) between the Government of Liberia and Ivanhoe Liberia Ltd., the local subsidiary of Ivanhoe Atlantic — a deal that, once approved, could reshape the country’s mining and transport landscape and firmly establish an independently operated, multi-user railway model for the first time in Liberia’s history.

At separate sittings on Thursday, October 23, 2025, both chambers of the 55th Legislature received communications from President Joseph Nyuma Boakai, Sr., seeking legislative ratification of the 25-year Railway Access and Concession Agreement signed on July 5, 2025. The CAA is a core component of President Boakai’s ARREST Agenda for Inclusive Development and is expected to unlock more than US$1.8 billion in long-term economic benefits for Liberia.

House and Senate Move Swiftly to Committee Stage

In the Senate, the communication from the President was read by the Chief Clerk under the agenda item “Business on the President’s Desk” during the 45th Day Sitting. Following the reading, Senator Albert Chie of Grand Kru County proffered a motion requesting that the instrument be forwarded to a Joint Committee comprising the Committees on Transportation, Concessions and Investment, Lands, Mines, Energy, Mineral Resources and Environment, Judiciary, and Ways, Means and Finance. The Joint Committee has been granted a two-week period to review the agreement and report back to plenary.

A minor debate ensued after Senator Simeon Taylor of Grand Cape Mount County proposed that the Committee on Lands, Mines, Energy, Mineral Resources, and Environment take the lead on the review, given its technical relevance. However, the Senate agreed that the Committee on Transportation — given its oversight authority over national infrastructure — should lead the process.

At the House of Representatives, lawmakers also voted unanimously to refer the agreement to a Joint Committee on Concession, Transport, and Judiciary, which has likewise been mandated to report within two weeks. The move followed President Boakai’s submission of the CAA, in which he described the deal as “a landmark development in the modernization of Liberia’s rail and port infrastructure” and “a critical step toward inclusive and sustainable mineral development.”

Opening Liberia’s Railways to Competition

Under the CAA, Ivanhoe Atlantic– formerly HPX — would be granted regulated access to Liberia’s Yekepa-Buchanan railway and Buchanan Port for the transport of high-grade iron ore from the Kon Kweni Iron Ore Project in Guinea’s Nimba region. The agreement provides for an “Independent Rail Operator (IRO)” framework that allows multiple qualified users to access the rail and port facilities under a standardized regulatory system.

Phase I of the agreement grants Ivanhoe access for up to five million metric tonnes per annum (5 mtpa) under the existing ArcelorMittal Liberia Mineral Development Agreement (MDA). In Phase II, Ivanhoe is expected to expand infrastructure to accommodate up to thirty million tonnes per annum (30 mtpa), subject to feasibility studies and regulatory approval.

The new model — decoupling mining from infrastructure ownership — aligns with President Boakai’s policy to create an open-access, multi-user rail system that enhances competition and stimulates wider economic growth.

The Agreement stipulates a payment of US$25 million in total Concession Fees after ratification and unimpeded access. An additional US$10 million will be paid over three years when certain milestones relating to the Rail Authority law and appointment of an independent operator are achieved.

Economic and Community Impact

According to the agreement, approximately US$175 million has been earmarked for affected communities in Nimba, Bong, and Grand Bassa counties during the life of the Agreement, alongside potential investments of up to US$900 million in rail and port infrastructure upgrades. The project is expected to create about 500 direct jobs and over 2,000 during phase 1 construction and also from indirect jobs through domestic suppliers and contractors during the construction phase, with long-term employment opportunities expected to multiply even more as operations expand towards 30mtpa.

Ivanhoe’s Kon Kweni Iron Ore Project, located in Guinea’s Nimba Lola region, is one of the world’s highest-grade undeveloped deposits, boasting 751.9 million tonnes of Direct Ship Ore (DSO), including 209 million tonnes of ore averaging 67.8% Fe. The project is 85% owned by Ivanhoe Atlantic Inc., with the remaining 15% held by the Government of Guinea. With a ratified Mining Convention and mining permit already in place, Ivanhoe is finalising all approvals to commence construction in quarter one of 2026, upon the ratification of the CAA.

Under the Bilateral Implementation Agreement (BIA) between Liberia and Guinea–ratified in 2021–the Kon Kweni project will utilize Liberia’s Yekepa-Buchanan rail corridor and port, offering a shorter, more cost-effective export route than alternatives through Guinea. This arrangement is expected to strengthen cross-border trade, deepen regional cooperation, and advance the shared infrastructure goals of both governments.

A Step Toward Regional Integration

The commencement of the ratification process marks a crucial milestone in the broader Guinea-Liberia partnership for shared infrastructure use. It also signifies Liberia’s growing role as a regional transport hub and as a trusted partner in sustainable mineral development.

The U.S. Embassy in Monrovia has hailed the CAA as “a crucial step” in implementing Liberia’s multi-user rail policy and attracting new international investment. Once ratified, the agreement is expected to not only catalyze Ivanhoe’s US$1.8 billion investment but also unlock opportunities for other prospective users of the Yekepa-Buchanan corridor–advancing the Boakai administration’s vision of an open, competitive, and inclusive national rail system.

The Joint Committees of both chambers are expected to begin hearings in the coming days, with a final vote anticipated before the Legislature adjourns its final sitting of 2025. If ratified, the Ivanhoe Atlantic Agreement could herald a new era for Liberia’s rail governance–anchoring transparency, shared growth, and regional cooperation at the heart of the country’s infrastructure strategy.

By Liberian Observer.