Monrovia, Liberia – July 7, 2025 — The United States Embassy in Monrovia has officially welcomed the signing of a $1.8 billion rail concession and access agreement between the Government of Liberia and Ivanhoe Atlantic, a U.S.-registered company. The deal, according to the Embassy, represents a major step toward achieving President Joseph Nyuma Boakai’s infrastructure development goals and strengthening Liberia’s investment climate.
In a brief statement on Monday, the Embassy said the deal supports President Boakai’s vision of a multi-user rail policy and deeper U.S.-Liberia commercial engagement. “By increasing U.S. investment in Africa, we drive mutual prosperity and support Liberia’s move from aid to trade,” the statement noted.
The official announcement follows days of intense speculation and concern over the company’s ownership structure and the secretive manner in which the deal was concluded. Prior reports suggested that Ivanhoe Atlantic, while registered in Delaware, has indirect ties to Chinese state interests through its founder, Canadian-American businessperson Robert Friedland.
Friedland is also the founder of Ivanhoe Mines Ltd., a Toronto-listed company partly owned by Chinese state-linked firms. Major shareholders include China’s Zijin Mining Group and CITIC Bank, both closely tied to the Chinese government. The connection has raised questions in Washington and beyond about whether the Liberian deal could inadvertently boost Beijing’s influence in West Africa.
According to leaked details, the agreement—signed on Sunday, July 6—includes the rehabilitation of the existing Tokadeh-to-Buchanan railway and the construction of new links into Guinea. The railway will be used primarily for transporting iron ore from Guinean mines to Liberia’s coastal port.
The signing comes just ahead of President Boakai’s trip to Washington for a July 9–11 African Leaders Summit hosted by U.S. President Donald Trump. Insiders believe the deal was rushed to present it as a flagship investment initiative during the summit.
However, transparency concerns continue to linger. The agreement was finalized without any official public announcement from the Liberian government, no legislative debate, and no press access during the signing. Local reporters were reportedly barred from attending the event at the National Investment Commission after a last-minute protocol change.
While the U.S. Embassy has endorsed the deal as a sign of stronger economic cooperation, analysts caution that the move places Liberia at the intersection of a growing geopolitical contest between Washington and Beijing over Africa’s critical mineral corridors.
As scrutiny builds, the Boakai administration faces mounting pressure to clarify the terms of the agreement and address concerns about national sovereignty, transparency, and the true beneficiaries of the multi-billion-dollar rail corridor.
