Ivanhoe Atlantic’s Guinea iron ore project moves closer to construction

[Ben Graham]

Ivanhoe Atlantic has completed the necessary environmental and social impact studies (ESIA) for its Kon Kweni iron ore project in Guinea and submitted permit applications to begin construction early next year.

The ESIA submissions, says the US-based mining company, take the Kon Kweni project closer to construction, which it aims to begin in the first quarter of 2026. Alongside Guinea, an application was also submitted to relevant authorities in neighboring Liberia, where a rail infrastructure to export the iron ore would be built.

Ivanhoe Atlantic’s president and CEO Bronwyn Barnes hailed the ESIA completion and submission as “a significant milestone” for the company and its iron ore project. “The development of Kon Kweni is a significant contributor to both Guinean and Liberian economies and will provide a new high-grade iron ore export stream that is aligned with US critical mineral supply chains,” he stated in a press release.

The Guinea ESIA pertains to Phase 1 mining activities at Kon Kweni, while the Liberian ESIA relates to the infrastructure component of the Phase 1 development.

In 2024, Ivanhoe Atlantic announced plans to build a multi-user infrastructure corridor connecting the two African nations. Known as the Liberty Corridor, the infrastructure project will comprise a brand-new rail system connecting Kon Kweni to a newly constructed deep-water port at Didia, Liberia. Earlier this year, the parties reached a $1.8 billion investment agreement for the rail project.

World-class iron deposit

Kon Kweni — also known as Nimba — represents a shovel-ready world-class deposit featuring a total resource of 751.9 million tonnes of direct ship ore, of which 209 million tonnes is high-grade iron ore at 67.8%.

The project is 85% owned by Société des Mines de Fer de Guinée, Ivanhoe Atlantic’s subsidiary in Guinea. The Guinean government and Mifergui (a locality in southeastern Guinea) own the remaining interest in the project, with 10% and 5% respectively.

According to Ivanhoe, the Phase 1 development of Kon Kweni will target an initial production of 2 million tonnes per annum, then ramping up to 5 million tonnes. The Phase 2 development — which it aims to begin in 2029 and will be subject to a separate ESIA process — has a target production of 30 million tonnes per annum with infrastructure upgrades.

As a first-in-a-generation cross-border project in the Mano River Union (MRU) – which includes Liberia, Guinea, Sierra Leone and the Ivory Coast – Kon Kweni is poised to generate long-term economic growth for the region, the company said.