“This agreement is an important step toward President Boakai's goals of advancing Liberia's multi-user rail policy and securing new international investment,” the US Embassy in Liberia wrote in a statement on its social media account.
Under the agreement, the Liberian government aims to transform the Guinea-Liberia corridor into a system managed by an independent operator, accessible to multiple companies. This new model will come into effect when the current mine development agreement currently used by ArcelorMittal Liberia expires in 2030.
With access to rail infrastructure, Ivanhoe Atlantic will be able to transport iron ore from Guinea's Kon Kweni project via the shortest export route. The project will initially produce between 2 and 5 million tons of iron ore annually, with the second phase aiming to increase this capacity to 30 million tons.
The agreement was announced ahead of US President Donald Trump's five-state Africa Summit in Washington on July 9-11. However, the US Embassy did not provide further details on the agreement.
Ivanhoe Atlantic declined to comment on the matter.
Liberia's infrastructure push and multi-user rail policy will boost competition for West Africa's mining exports and help attract new investment to the region.
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