Liberia has signed a US$1.8 billion agreement with US-based Ivanhoe Atlantic Inc. to rehabilitate and utilize its railway infrastructure for exporting iron ore from Guinea's Kon Kweni project.

The US Embassy endorsed the deal as crucial for President Boakai's goals of establishing a multi-user rail policy and attracting international investment. This policy aims to transition the Guinea-Liberia corridor to multiple users with an independent operator after ArcelorMittal Liberia's exclusive agreement expires in 2030.

Access to the rail will provide Ivanhoe Atlantic with the shortest export route for its Guinea project. The project targets initial production of 2-5 million tons annually, scaling up to 30 million tons.