• Ivanhoe Atlantic’s Environmental and Social Impact Assessment (“ESIA”) for Phase One transport and logistics infrastructure has been formally accepted by the Government of Liberia.
• ESIA approval is a major milestone in advancing the Kon Kweni Ultra-High Grade Iron Ore Project.
• This milestone follows the ratification of Ivanhoe Atlantic’s Concession and Access Agreement (“CAA”) to access Liberian multi-user rail and port infrastructure.
• The Company now progresses with final approvals with the Government of Guinea in the coming weeks.

Ivanhoe Atlantic Inc. (“Ivanhoe Atlantic” or the “Company”), a U.S. mining company, is pleased to announce that it has secured a key environmental approval for use of Liberian transport and logistics infrastructure for the Kon Kweni Ultra-High Grade Iron Ore Project.

The acceptance by the Government of Liberia of the ESIA, which was developed by the Earthtime Group, a leading Liberian environmental and social advisory firm accredited by Liberia’s Environmental Protection Agency (“EPA”), represents a significant regulatory and development milestone for Ivanhoe Atlantic. It advances Phase One project activities associated with rail, port, and related logistics infrastructure in Liberia.

Ambassador (Ret.) Dr. J Peter Pham, Executive Chairman and Interim CEO, said: “This approvals milestone in Liberia is a testament to the dedication and thoroughness demonstrated by our Ivanhoe Atlantic team and our specialist partners throughout the process. We believe that promoting the wellbeing of the environment and of communities where we operate are essential principles that guide our business decisions.

“This milestone underscores our strong and collaborative relationship with the Government of Liberia while reinforcing our commitment to developing multi-user infrastructure that generates long-term economic value, creates employment opportunities, and delivers broader benefits to Liberia. We look forward to soon seeing the establishment of the National Rail Authority which advances a true independently operated multi-user access system in Liberia.”

The ESIA was undertaken to evaluate the foreseeable environmental and social effects of project development and operations, and to identify mitigation and management measures to avoid, reduce, and restore potential impacts. The Liberian ESIA is the result of extensive multi-year social, environmental, and biodiversity baseline studies, supported by comprehensive stakeholder and community engagement programs.

Developed in accordance with Liberian regulatory requirements and adheres to the standards of the International Finance Corporation and the Equator Principles, the ESIA reflects Ivanhoe Atlantic’s commitment to responsible, transparent, and sustainable development.

Phase One of the Kon Kweni development includes the establishment and operation of multi-user rail and port infrastructure in Liberia to support the export of ultra-high grade iron ore. The project is expected to contribute meaningfully to infrastructure investment, job creation, and economic growth in Liberia.

Future expansion phases will be subject to separate regulatory approvals and environmental and social assessment processes. This project is expected to bring large scale investments to Liberia and generate 500 direct jobs, and 3,000 indirect jobs during the project’s lifecycle.

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 one of 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 tonnes of Direct Ship Ore, of which 209 million tonnes 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