• U.S. appointees have been announced for Ivanhoe Atlantic’s subsidiary Société des Mines de Fer de Guinée SA (SMFG) as the company prepares for construction readiness in Guinea.
• Ambassador (Ret.) Patricia Moller, who first joined the SMFG Board in 2019, has been appointed Chair along with four newly appointed directors:
  • Ambassador (Ret.) Dr. J. Peter Pham, Executive Chairman and Interim CEO of Ivanhoe Atlantic Inc, who previously served as the United States Special Envoy for the Great Lakes and Sahel,
  • Ambassador (Ret.) Tibor P. Nagy, Jr., former Acting Under Secretary of State for Management, former US Assistant Secretary of State for Africa, and former U.S. Ambassador to Guinea and Ethiopia,
  • Mr. Bradley Doig, Non-Executive Director of Ivanhoe Atlantic Inc. & Chief Operating Officer of I-Pulse Inc., a U.S. company that is the world leader in high pulsed power, and
  • Mr. Kevin McLean, Chief Operating Officer of Ivanhoe Atlantic Inc.

• The Company is actively engaged with the Government of Guinea as it pursues final environmental and project permitting with a construction timetable on track for 2026.

Ivanhoe Atlantic Inc. (“Ivanhoe Atlantic” or the “Company”), a U.S. mining company, is pleased to announce several key U.S. appointments to the board of SMFG as it prepares for construction readiness in Guinea.

Ambassador Dr. J. Peter Pham, Executive Chairman and Interim CEO, said: “As an American company operating in West Africa, not only are we developing the world’s highest grade iron ore project at Kon Kweni, we are leading the way for the region’s next major infrastructure corridor in harmony with the U.S. administration’s strategic shift in Africa to an investment and growth paradigm capable of harnessing the continent’s abundant natural resources and latent economic potential, especially with reliable partners willing to open their markets. Given the complexity of these operations, it is vital we have strong American leadership in our operations in every jurisdiction in which we are present.”

“My colleagues who are joining the SMFG board are high caliber, have a depth of experience and are focused totally on delivery in Guinea. They will help deliver mutually beneficial outcomes for our partners in government in Conakry, as well as meeting the goals set forth in American critical minerals policy.”

Kon Kweni is an advanced world-class deposit featuring 751.9 million tonnes of Direct Ship Ore, of which 209 million tonnes is high-grade ore (>67% Fe). The project is owned by SMFG, which in turn is 85% owned by Ivanhoe Atlantic and 15% by the Government of Guinea. It is located in southeast Guinea, 16km from Guinea’s border with Liberia, and 46km from the northern end of the Yekepa-Buchanan railway.

In parallel to developing this asset, Ivanhoe Atlantic is advancing the Liberty Corridor, an independently operated multi-user rail and port initiative designed to connect mineral production in Guinea to Atlantic export infrastructure through Liberia. The Company announced in December 2025 that its Concession and Access Agreement with Liberia had been ratified, securing development rights and corridor access.

More information on new SMFG board appointees

Ambassador Patricia Moller is an American career diplomat and former investment banker who served as United States Ambassador to Burundi from March 2006 to June 2009 and to Guinea from March 2010 to September 2012. Prior to her ambassadorships, Moller worked for ten years as an investment banker at Smith Barney before joining the U.S. Foreign Service in April 1987, where she held consular, management, and deputy chief of mission roles in postings including Munich, Madras, Belgrade, Yerevan, and Tbilisi, often in challenging environments such as during the NATO bombing of Yugoslavia. She received multiple Superior Honor Awards from the State Department and the Leamon R. Hunt Award for Administrative Excellence in 2000 for her contributions, including to U.S.-Vietnam diplomatic normalization. After retiring from government service, Moller pursued business consulting in African energy sectors, serving on boards for companies involved in West African LNG and gas exploration.

Ambassador Dr. J. Peter Pham served as the United States Special Envoy for the Great Lakes (2018-2020) and Sahel (2020-2021) Regions of Africa, with the personal rank of U.S. Ambassador granted by President Donald J. Trump. He is also a Distinguished Fellow at the Atlantic Council, a Senior Advisor at the Krach Institute for Tech Diplomacy at Purdue University and a Ben Franklin Fellow. Pham was previously Vice President for Research and Regional Initiatives at the Atlantic Council as well as Director of the Council’s Africa Centre. He is the author of several books and more than 350 articles, essays and reviews on African politics, security, and economic issues. In addition to currently serving as Executive Chairman and Interim Chief Executive Office of Ivanhoe Atlantic, he is also a Non-Executive Director of Africell Global Holdings and of Rainbow Rare Earths Ltd as well as a strategic advisor to several other companies, with a particular focus on managing geopolitical risk and developing business in Africa.

Ambassador Tibor P. Nagy, Jr. is a retired career Foreign Service Officer who spent 32 years in government service, including over 20 years in assignments across Africa. He served as Acting Under Secretary of State for Management (2025), Assistant Secretary for African Affairs (2018-2021), United States Ambassador to Ethiopia (1999-2002), United States Ambassador to Guinea (1996-1999) as well as the Deputy Chief of Mission in Nigeria (1993-1995), Cameroon (1990-1993), and Togo (1987-1990). Previous assignments include Zambia, the Seychelles, Ethiopia, and Washington, DC. Ambassador Nagy has received numerous awards from the U.S. Department of State in recognition of his service, including commendations for helping prevent famine in Ethiopia; supporting the evacuation of Americans from Sierra Leone during a violent insurrection; supporting efforts to end the Ethiopian-Eritrean War; and managing the United States Embassy in Lagos, Nigeria during political and economic crises.

Mr. Bradley Doig is a seasoned business executive with over 32 years of experience in funding, building, acquiring, advising, and managing businesses across various industries. He began his career in 1988 at Billiton Ltd. (now BHP), where he held various roles until 1997, including international business development and strategy for Samancor Limited, the world’s largest producer of manganese and chrome ore and alloys. Bradley has worked in corporate finance at Kleinwort Benson Ltd. and as an investment banking consultant at The International Bank of South Africa (a joint venture between Dresdner Bank and BNP Paribas). From 1999 to 2001, he served as a senior executive in the special projects division at Mercantile Bank. In 2002, he served as group business development executive at South African management consultancy, the IQ Business Group leading the business process practice. In 2002, Bradley co-founded Decorum Capital Partners and served as the Chief Investment Officer and executive director of the New Africa Mining Fund (NAMF) until 2006. He currently holds the position of Chief Operating Officer at I Pulse Inc. and serves as a non-executive director of African Gold Acquisition Corp (“AGAC”).

Mr. Kevin McLean has over 30 years of experience in the mining sector. He began his career in Australia in gold and base metals and then iron ore with Rio Tinto and Fortescue. He then expanded his career in Africa, leading mine, rail, and port operations of a large iron-ore project in Sierra Leone. From 2015 to 2020, Kevin was Project Director, Operations Director and Chief Executive Officer of Bel Air Mining, the Guinea subsidiary of Alufer Mining. As Chief Operating Officer of American company Ivanhoe Atlantic Inc. he is working to bring the highest-grade iron ore in the world to market from the Kon Kweni project in Guinea.

*These appointments will be confirmed at the next Shareholder’s meeting*

About Ivanhoe Atlantic Inc.

Guinea:

• Ivanhoe Atlantic holds a mining convention in Guinea for the Kon Kweni Iron Ore Project. The convention is the operating framework covering exclusive infrastructure development and access rights to the lowest contaminant and highest-grade undeveloped iron ore deposits in the world.
• Kon Kweni is an advanced world-class deposit featuring 751.9 million tons of Direct Ship Ore, of which 209 million tons is high-grade ore (>67% Fe). The project is 85% owned by a subsidiary of Ivanhoe Atlantic, 15% owned by the Government of Guinea.
• Kon Kweni is located in southeast Guinea, 16km from Guinea’s border with Liberia, and 46km from the northern end of the Yekepa-Buchanan railway.
• Liberia and Guinea ratified a Bilateral Implementation Agreement in 2021. The agreement promotes shared use of transport infrastructure at national, sub-regional and regional levels to bolster mining development, contribute to sub-regional integration of the economies of Guinea and Liberia, and strengthen the socio-economic development of both countries.
• Kon Kweni is expected to generate $16.7 billion for the Guinea government over the mine’s lifecycle.

Liberia:

• Liberia is home to an estimated 17 billion tons of iron ore, much of which lies in the Yekepa-Buchanan corridor.
• Ivanhoe Atlantic, through its local subsidiary, Ivanhoe Liberia, plans to expand capacity of the Yekepa–Buchanan railway and Buchanan Port to support the export of up to 30 million tons per annum of iron ore.
• Ivanhoe Atlantic will become the rail line’s first ‘multi-user’ customer, in full alignment with President Joseph Boakai’s ARREST Agenda. The proposed infrastructure expansion will increase capacity on the railway to support the transportation of 2-5 mtpa, building up to 30 mtpa, of iron-ore from the Kon Kweni project.
• Following over six years of discussions with Liberia’s Inter-Ministerial Concessions Committee, Ivanhoe Atlantic has negotiated a Concession and Access Agreement (CAA) with the Government of Liberia.
• Liberia is to establish a National Rail Authority that will place oversight and governance of the railway, a strategic sovereign asset, back under the purview of the government.
• The CAA was ratified by the Legislature with support from President Boakai on December 18, 2025.

–ENDS —

Contact details: media@ivanhoeatlantic.com