President Joseph N. Boakai has submitted to the Senate for ratification the Concession and Access Agreement (“CAA”) executed between the Government and Ivanhoe Liberia Limited. The deal, which was signed on July 5, 2025, is expected to create more jobs for Liberians. In his communication to the senators, President Boakai said CAA represents a landmark development in the modernization of Liberia’s rail and port infrastructures and furthers the government’s strategic objective of fostering inclusive and sustainable mineral development.
He explained that the agreement is a twenty-five (25) year legal framework enabling the transport of Guinean iron ore through Liberian infrastructure, contingent upon requisite bilateral arrangements with the Republic of Guinea. The Liberian Leader indicated that the concession agreement conforms to the government’s ARREST Agenda for Inclusive Development (AAID) and aligns with broader economic transformation priorities.
Boakai said key components of the agreement include Independent Rail Operator (IRO) Framework as well as the establishment of a legal basis for third-party access to rail and port infrastructure through a regulated IRO model. “Phase I Access: Ivanhoe Liberia Ltd. shall be granted rail access for up to five million metric tonnes per annum (5 mtpa) under ArcelorMittal Liberia’s Mineral Development Agreement (MDA). Phase II Expansion: Ivanhoe shall expand and develop new infrastructure to accommodate up to thirty million metric tonnes per annum (30 mtpa), subject to feasibility and regulatory approvals,” the President said.
According to him, an upfront payment of US$37 million has been paid by Ivanhoe Liberia Ltd. to the previous administration as consideration for development rights. President Boakai disclosed that subsequent payments of the concession agreement stipulates an initial payment of US$10 million upon legislative ratification, and a second payment of US$15 million upon the granting of physical access under Phase I.
Under the Community Development Fund (CDF), Boakai told the lawmakers that Ivanhoe is obligated to contribute to the CDF for local infrastructure, education, and health initiatives stating that the agreement anticipates over 500 direct jobs during construction and an estimated 3,000 indirect jobs through domestic suppliers and service providers.
The President believes that the Legislature will ratify the agreement, which he said is poised to unlock Liberia’s infrastructure for shared, multi-industry use and creating pathways for inclusive growth and national revenue expansion. With the submission of the concession agreement, the Legislature is said to have commenced ratification hearings for Railway Access Supporting Liberia/Guinea Cross-Border Iron-Ore Trade.
Already, the Senate and House of Representatives have assigned ratification of Ivanhoe Liberia’s Concession and Access Agreement (CAA) to relevant committees on Transport and Concession and Investment. The CAA would open the Yekepa–Buchanan railway to increase competition from prospective users, carving the pathway for other companies to gain access and provide Liberia with significant economic benefits.
Once the Concession and Access Agreement is ratified by the Legislature, it will create an independently operated multi-user rail model in line with President Boakai’s policy agenda and facilitate IVA’s $1.8 billion investment that will generate economic growth in Liberia and Guinea. As the committees embark on the CAA ratification process, it marks a major milestone in advancing the Bilateral Implementation Agreement (BIA) between Guinea and Liberia that was ratified in 2021. This is a significant step toward unlocking one of the world’s highest-grade undeveloped iron ore deposits and establishing a new model for regional cooperation and shared growth. Ratification of the CAA will decouple mining from infrastructure, in alignment with President Boakai’s policy and will provide longer-term benefits to Liberia by opening the railway to more users and freight sectors.
Under the Rail Standard Operating Procedure (RSOP), the Government of Liberia can grant access to all qualified users access to Liberia’s Yekepa–Buchanan railway and Buchanan Port. Together they form the best export route from Kon Kweni, offering a shorter, more cost-effective path to global markets than alternative routes through Guinea. It also supports Liberian Guinean relations and cross-border trade.
Once the concession agreement is ratified, it will enable the transport of high-grade iron ore from the Kon Kweni Iron Ore Project in Guinea through Liberia, under the framework of the BIA between the two governments. The Kon Kweni Iron Ore Project is a shovel-ready, world-class deposit featuring a total resource of 751.9 million tonnes of Direct Ship Ore (DSO), including 209 million tonnes of high-grade ore averaging 67.8% Fe.
With a ratified Mining Convention and mining permit already in place, Ivanhoe Atlantic (IVA) is finalizing all approvals to commence construction in Q1 of 2026, including the ratification of the CAA. More jobs are expected as the company ramps up its operations to 30mtpae. IVA’s project is also expected to create eight indirect jobs for every direct hire. Kon Kweni is 85% owned by Ivanhoe Atlantic Inc., the remaining 15% is owned by the Government of Guinea.
In preparation to begin work, Ivanhoe Atlantic says it has completed Environmental and Social Impact Assessments (ESIA) in Guinea and Liberia. According to press release, the ESIA submissions for Phase 1 of project development and mining at the Kon Kweni Iron Ore Mine (“Kon Kweni”) in Guinea and related transport infrastructures and logistics in Liberia have been submitted to relevant government authorities. The submission of the ESIA documents marks a significant milestone in Kon Kweni’s execution progress and follows a multi-year ESIA scoping process in compliance with International Finance Corporation and Equator Principle standards, the release indicated.
