The Ivanhoe Atlantic/HPX concession faces significant hurdles due to the lack of formal Guinean approval and unresolved issues regarding third-party rail access, particularly the involvement of AML.
By Lincoln Peters
Monrovia, December 16, 2025: The Ivanhoe Atlantic/HPX US$2.8 billion concession agreement has encountered serious setbacks due to a lack of formal recognition and reaffirmation from the Guinean government.
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As if that were not enough, there are issues surrounding the inclusion of ArcelorMittal Liberia (AML) in third-party rail user access agreements.
These challenges were brought to light during a hearing with the Liberian Senate Joint Committee on Concession and Investment, Transport, and Judiciary on December 15, 2025.
Senator Saah Joseph, Chair of the Senate Joint Committee, requested updated documentation from the Guinean government, highlighting that the only communication on file was a 2020 letter from former Guinean President Alpha Condé.
"The document you have provided to this committee, which we are currently reviewing, is a 2020 letter under the leadership of the former Guinean President, Alpha Condé. Now, I want to know: do you have any new communication from the Guinean government, given that they now have a new government? If you have, please give me a present.' Senator Saahh Joseph mandated.
"Senator, the National Investment Commission wrote the Guinean government through its ambassador accredited near Monrovia, and we made several follow-ups, but there was no response. So, we followed up with the Embassy near Monrovia, but we didn't receive a response from the Ambassador. We did that during the time of the negotiation." Liberia National Investment Commission (NIC) Chief Executive Officer Jeff B. Blibo to the committee.
Despite the Liberian National Investment Commission (NIC) making multiple attempts to communicate through the Guinean Embassy in Monrovia, no response or official green light has been received from the current Guinean administration.
Montserrado County Senator and Chair of the Senate Foreign Affairs Committee, Abraham D. Dillon, criticized the NIC for failing to follow proper diplomatic channels.
He emphasized that the Ministry of Foreign Affairs should have handled communications with the Guinean government, not the NIC, suggesting this misstep could explain the lack of response.
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However, Transport Minister Sirleaf R. Tyler assured the Senate that all relevant documents had been submitted and expressed optimism regarding Guinean government support.
He noted that Guinea owns a 15% stake in the company and benefits from access fees and plans for a steel facility under the agreement, indicating continued mutual interest.
Meanwhile, Senators Alex J. Taylor and Samuel Kogar raised questions about AML's ongoing control of the rail system and whether AML had been involved in the Ivanhoe/HPX agreement to avoid operational conflicts.
But responding, Deputy Minister for Economic Affairs, Cllr. Charles D. F. Karmo, II, clarified that AML's rail management rights run until 2030, under a second amendment to their agreement.
He stated that the current Mineral Development Agreement (MDA) under consideration includes provisions for third-party rail access, with the intention of establishing the National Rail Authority as an independent operator after 2030.
In October 2024, President Joseph N. Boakai issued an Executive Order. That executive order mandates the creation of a National Road Authority.
The government's new policy post-2030 will establish a National Rail Authority, grant third-party access, and aim to shift operational control from AML to a government-appointed independent operator.
Negotiations are ongoing to develop a Standard Operating Principle that will regulate multi-user rail access, balancing existing AML rights with future third-party access. -Edited by Othello B. Garblah.
