Billions in New Investment Await Liberia

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ADNews-Monrovia, Liberia: Liberia is poised to unlock one of the largest infrastructure investments in its recent history as the House of Representatives prepares to vote on the Concession and Access Agreement (CAA) with U.S.-based Ivanhoe Atlantic. The agreement has received firm backing from President Joseph Nyuma Boakai’s administration, following more than six years of negotiations between the Inter-Ministerial Concessions Committee (IMCC) and the company.

The proposed deal builds on a 2021 Implementation Agreement between Liberia and Guinea on the shared use of transport infrastructure at national and regional levels. It also lays the groundwork for the establishment of an independent National Rail Authority (NRA), a key element of President Boakai’s transport modernization agenda outlined in Executive Orders 153 and 136. The agreement would introduce a new rail user to the 243-kilometer Yekepa–Buchanan rail corridor.

To demonstrate its commitment, Ivanhoe Atlantic has already deposited US$37 million with the Liberian Revenue Authority through the Central Bank of Liberia. If the Legislature ratifies the CAA, the company will provide an additional US$35 million in direct concession payments, disbursed as follows:

US$1 million within 10 business days after presidential signing and publication.

US$10 million within 10 business days after the agreement takes effect.

US$15 million upon commencement of operations on the railway.

US$2.33 million following enactment of the National Rail Authority Act.

US$3.33 million upon appointment of an Independent Operator by the NRA.

US$3.33 million on the first anniversary of the Independent Operator’s appointment.

The agreement mandates the creation of a Community Development Fund (CDF) for towns along the rail corridor in Nimba, Grand Bassa, and Bong counties. Ivanhoe Atlantic will contribute US$1 million annually, rising to US$5 million per year in the first five years. Payments would continue throughout the multi-decade period during which Ivanhoe expects to transport high-grade iron ore through Liberia.

Beyond concession payments, Ivanhoe Atlantic plans to invest nearly US$1 billion in Liberia in two phases, focusing solely on rail, road, and port infrastructure.

Phase 1 includes:

US$64 million for access roads, railway rehabilitation, and port improvements.

Target output of 2–5 million metric tons per year of high-grade iron ore once infrastructure is completed.

Phase 2 includes:

An additional approximately US$888 million will be split between US$452 million for a full railway upgrade and US$436 million for expansion of the Port of Buchanan.

Expanded capacity would allow for the transportation of up to 30 million metric tons of iron ore per year, pending feasibility studies and regulatory approvals.

In addition to the financial investment, Ivanhoe Liberia will hire 500 people in Phase 1, during which the project is expected to create 3,000 indirect jobs.

Ivanhoe is also expected to invest approximately US$800 million in Guinea to link the two countries within a shared export corridor.

According to government estimates, allowing Ivanhoe Atlantic access to the rail line would generate about US$60 million annually in rail user fees, taxes, dividends and related revenue streams for Liberia.

If approved, Ivanhoe Atlantic would become the first company to operate under Liberia’s proposed multi-user rail framework, an economic vision of President Boakai’s that can attract additional investment and broaden national revenue sources across mining, agriculture, freight, manufacturing, health, and education.

As the administration prepares its 2026 national budget, officials say these diversified revenue streams could strengthen the country’s long-term economic outlook and transform critical national infrastructure.