Ivanhoe Atlantic’s Kon Kweni Iron Ore Project in Guinea Nears Construction Phase

Ivanhoe Atlantic Inc. has reached a pivotal stage in the advancement of its Kon Kweni Iron Ore Project in Guinea, marking significant progress toward the construction phase. The company has successfully completed and submitted Environmental and Social Impact Assessments (ESIA) to the respective authorities in Guinea and Liberia, a critical prerequisite for the commencement of large-scale mining and infrastructure operations. This development brings the project, also known as the Nimba Iron Ore Project, one step closer to realization, with construction expected to begin in the first quarter of 2026, pending final approvals. The Kon Kweni project is set to become one of West Africa’s most transformative mining undertakings, representing both industrial ambition and regional cooperation.

At the core of the project lies the Liberty Corridor, a cross-border infrastructure initiative that will link the Kon Kweni mine in southeastern Guinea to a newly planned deep-water port at Didia in Liberia. The corridor, encompassing rail and port facilities, represents a total investment of approximately US$1.8 billion and is designed to unlock significant logistical efficiencies for mineral exports. With proven reserves of 751.9 million tonnes of direct shipping ore, including an impressive 209 million tonnes of high-grade ore averaging 67.8% iron content, Kon Kweni stands out as one of the richest undeveloped iron ore deposits on the continent.

The project’s initial production phase will target an output of two million tonnes per year, gradually increasing to five million tonnes as operations stabilize. The second phase, slated for 2029, envisions a major expansion to 30 million tonnes per year, positioning Kon Kweni among the largest iron ore producers in Africa. Ownership of the project is structured with Ivanhoe Atlantic holding 85%, the Government of Guinea owning 10%, and Mifergui, a local consortium, holding the remaining 5%. Such a partnership framework ensures both national participation and international expertise, supporting long-term resource governance and equitable value distribution.

Beyond its industrial scale, the project is expected to deliver profound economic and geopolitical impacts. By integrating the economies of Guinea and Liberia through shared infrastructure, the Liberty Corridor exemplifies a new model of regional development in the Mano River Union area. It is also expected to enhance both countries’ access to global markets, attract new foreign direct investment, and stimulate downstream industries such as steel manufacturing and logistics services. Furthermore, the project aligns with broader Western interests in diversifying critical mineral supply chains, especially for the U.S. and allied economies seeking alternatives to traditional sources. To support project financing, Ivanhoe Atlantic, founded by renowned mining entrepreneur Robert Friedland, plans to list on the Australian Stock Exchange, targeting a capital raise of up to A$300 million (US$196 million).

Once operational, the Kon Kweni Iron Ore Project could become a catalyst for industrial transformation in West Africa. It promises not only to expand Guinea’s mining output but also to redefine Liberia’s role as a regional transport hub, fostering cross-border collaboration and infrastructure-led growth. Its success would symbolize a new era of responsible, strategic, and regionally integrated mining development in Africa.

Mini-Glossary

• ESIA (Environmental and Social Impact Assessment): A formal study to evaluate a project’s potential environmental and social effects before approval.
• Direct Shipping Ore (DSO): High-grade ore that can be shipped directly to market without extensive processing.
• Liberty Corridor: A proposed rail and port network linking Guinea’s iron ore deposits to Liberia’s coast for export.
• Critical Minerals: Raw materials essential to advanced technologies and national security, such as iron, lithium, and cobalt.
• Mano River Union: A regional organization promoting cooperation among Guinea, Liberia, Sierra Leone, and Côte d’Ivoire.