Ivanhoe Atlantic Inc. has announced a significant milestone in the development of its Kon Kweni Iron Ore Project, with the Republic of Liberia's Environmental Protection Agency (EPA) approving the Scoping Report and Terms of Reference (TOR) for the Environmental and Social Impact Assessment (ESIA) of the project's proposed infrastructure in Liberia.
The approval paves the way for the company to move forward with finalizing the ESIA for the road, rail, and port components that will link the project's operations in Guinea to the port of Buchanan, Liberia.
"This approval represents a critical step in advancing the project's broader environmental and social approvals," said Ivanhoe Atlantic in a statement. "It confirms the scope, methodology, and key issues to be addressed during the ESIA process." The company added that the ESIA process in Guinea is also nearing completion and is expected to conclude in the latter part of 2025.
The Kon Kweni Project, located in Guinea, is poised to become one of the most significant new sources of iron ore in the region. Phase 1 of the project aims to produce between 2 to 5 million tons per annum (Mtpa) of iron ore, with export operations dependent on infrastructure development in neighboring Liberia. As part of this first phase, Ivanhoe Atlantic will construct approximately 46 kilometers of upgraded road to facilitate truck transport of iron ore from Guinea to the railhead at Tokadeh, Liberia.
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The infrastructure plan also includes the construction of a new rail siding at Tokadeh, along with stockpile and rail-loading facilities. From Tokadeh, iron ore will be transported via the existing Tokadeh-to-Buchanan rail line. At Buchanan Port, Ivanhoe Atlantic plans to build a new rail siding and stockpile facility, along with dedicated ship-loading infrastructure to handle exports.
Ivanhoe Atlantic President and CEO Bronwyn Barnes expressed satisfaction with the pace and quality of collaboration between the company and Liberian authorities. "We are very pleased that our working relationship with the Government of Liberia continues in a transparent and professional manner with key approvals of the Terms of Reference and Scoping Documents for the ESIA received in such a timely manner," she said.
"The body of work associated with lodging the Terms of Reference is significant and we are pleased to have worked collaboratively with our local communities and government stakeholders to finalize this first part of the process," Barnes continued. "We remain committed to developing Kon Kweni to international best practice standards and are confident that the work we have completed to date demonstrates this commitment. We look forward to commencing construction activities at Kon Kweni later in 2025."
In addition to environmental clearance, Ivanhoe Atlantic confirmed that its Infrastructure Concession and Access Agreement with the Government of Liberia is in the final stages of negotiation, with a conclusion expected imminently. The agreement will provide the technical and financial framework for Ivanhoe's use of Liberia's existing Tokadeh-Buchanan railway and Buchanan Port, which are critical to the viability of the cross-border project.
Importantly, the Government of Liberia has affirmed that the Tokadeh-Buchanan rail corridor will be independently operated and open to multiple users, in line with the country's new rail policy. Oversight of the corridor will fall under the newly established National Rail Authority, which has been tasked with ensuring transparent, non-discriminatory access to strategic rail infrastructure.
Ivanhoe Atlantic estimates that the total investment into Liberia's infrastructure under the Phase 1 development will be approximately US$50 million. During the construction phase, the project is expected to create around 470 jobs for Liberians, while the operations phase will sustain an estimated 370 jobs. The ESIA process, which is currently being advanced, will include extensive community engagement and stakeholder consultation to ensure that environmental and social risks are carefully identified and mitigated.
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Leading the ESIA process in Liberia is Earth time Inc., a respected EPA-certified firm with a strong track record in environmental and social consulting. Earth time will be supported by teams from Ivanhoe Liberia and Ivanhoe Atlantic to ensure alignment with international best practices and Liberian regulatory requirements.
With environmental approvals now secured and concession negotiations nearing completion, Ivanhoe Atlantic's Kon Kweni project is steadily progressing toward its construction and operations phase. The cross-border venture could set a precedent for regional mining infrastructure development and signals renewed investor confidence in Liberia's transport and logistics corridor.
