Monrovia – As U.S. President Donald Trump intensifies efforts to curb China’s global influence through tariffs and tough rhetoric, a storm is brewing over a controversial rail deal in Liberia involving Ivanhoe Atlantic (formerly HPX). The deal, critics claim, is being pushed by elements within the U.S. State Department in a manner that contradicts American strategic interests—potentially handing influence over critical mineral routes to Chinese-linked entities.
By Gerald C. Koinyeneh, [email protected]
One of Trump’s outspoken allies, Laura Loomer, took to social media to raise the alarm, tagging high-profile Republican figures including Secretary of State Marcus Rubio and Senator Ted Cruz. Loomer reposted an investigative article by The Floridian headlined: “Trump’s ‘Golden Age’ at Risk? Pro-China Deep State in State Dept Accused of Undermining America’s Interests. CCP-backed Firms Could Sabotage U.S. Supply Chains.”
The article claims that some U.S. State Department officials are pressuring the Liberian government to approve a rail concession that would remove ArcelorMittal as operator of the Yekepa-to-Buchanan railway and grant access to Ivanhoe Atlantic, a newly rebranded company with reported links to Chinese firms.
Ivanhoe Responds to Pressure Claims
In response to inquiries from FrontPageAfrica, Ivanhoe Atlantic denied any inappropriate involvement by U.S. officials.
“Ivanhoe Atlantic, like many U.S. companies operating in foreign jurisdictions, has Commercial Advocacy Status under U.S. guidelines and is appropriately supported by the U.S. Embassy. Notwithstanding, no U.S. Embassy staff or U.S. Government official was ever a party to negotiations with the Government of Liberia,” the company said in a statement.
Controversial Shift in Strategy
Rather than investing in new infrastructure, Ivanhoe is accused of pivoting its strategy toward gaining access to ArcelorMittal’s existing, fully operational railway—an asset the Luxembourg-based steel giant has invested over $800 million to construct and modernize. According to report, ArcelorMittal currently employs about 3,200 Americans across Alabama, Ohio, and Texas, and has spent $100 million in U.S.-made equipment for its Liberian operations in the past year alone.
By contrast, Ivanhoe, which operates primarily in Guinea, has made no comparable investment in Liberian infrastructure. The company’s efforts to link Guinean mines to Liberian rail and ports, amid existing Chinese railway and port access deals in Guinea, have raised alarms in both Monrovia and Washington.
Critics say if Ivanhoe gains control of Liberia’s railway, it could provide Chinese-backed firms access to strategic Atlantic ports, further expanding China’s reach across West Africa—where it already holds mining strongholds in Guinea and the Democratic Republic of the Congo (DRC).
“Ivanhoe is also in joint ventures with Chinese mining companies in the DRC. In many ways, Ivanhoe interests and Chinese interests are one and the same,” said a U.S. official familiar with the situation.
Confusion and Secret Deal Signing in Monrovia
In Liberia, the situation has been marked by confusion and secrecy. On Saturday, July 5, despite being a non-working day, the Government of Liberia announced plans to sign the Concession and Access Agreement with Ivanhoe and invited media to the ceremony at the National Investment Commission (NIC).
However, upon arrival, reporters were barred from entering the building and told to wait. After several hours, officials bizarrely informed the press that no signing would take place. The same scene repeated on Sunday, again with no media access—though reports emerged that the deal was signed behind closed doors.
Sources say the Boakai administration is split over the agreement. Mollay Kamara, President Boakai’s Senior Economic Advisor, has publicly expressed reservations about the deal, while others within the government are said to be supportive.
Who Owns Ivanhoe? Questions Linger Over Chinese Links
Ivanhoe Atlantic, based in Delaware, was formerly known as High Power Exploration (HPX) and rebranded in December 2024. It was founded by Canadian billionaire Robert Friedland, who also owns I-Pulse, Inc., the majority shareholder of Ivanhoe Atlantic.
According to The Floridian, Friedland personally owns 12.08% of Ivanhoe Mines, Ltd., while Zijin Mining Group (based in Hong Kong) owns 12.23%, and China CITIC Bank Corporation (based in Beijing) holds 22.33%. Notably, 50.77% of the company’s ownership remains undisclosed, further fueling suspicions of hidden Chinese state involvement.
In a recent statement, Bronwyn Barnes, CEO of Ivanhoe Atlantic, said:
“We are delighted to transition to our new Ivanhoe Atlantic name and branding, which reflects our inclusion into the Ivanhoe group of companies—Ivanhoe Mines Ltd. and Ivanhoe Electric Inc.”
Ms. Barnes has been lobbying Liberian officials, including those at the Ministry of State, to fast-track the signing of the agreement ahead of President Boakai’s upcoming meeting with President Trump.
Ivanhoe Denies Chinese Ownership
Responding to the concerns, Ivanhoe Atlantic maintains that it is a U.S.-based company with no Chinese state-owned firms as shareholders.
“Our shareholder register is a matter of public record and can easily be verified,” the company said.
Ivanhoe confirmed that the Concession and Access Agreement has been signed with the Government of Liberia and is now awaiting President Boakai’s approval before being submitted to the Legislature for ratification.
“We look forward to engaging with members of the Legislature as deemed appropriate regarding the terms of the agreement and its expected positive impact on the nation’s economy,” the statement continued.
The company claims the agreement could make Liberia a regional transshipment hub, boosting rail transport, mining, agriculture, and other sectors.
Strategic Stakes
As the controversy unfolds, Trump allies warn that China’s expanding footprint across Guinea, Congo, and now potentially Liberia could give Beijing a strategic edge over the U.S. and its allies in accessing vital mineral resources critical for defense, energy, and tech industries.
“This isn’t just about a rail line. It’s about who controls the future of critical mineral supply chains in West Africa,” a congressional aide told FrontPageAfrica.
With pressure mounting on all sides—from Trump loyalists in Washington to civil society in Monrovia—the Ivanhoe deal may soon emerge as a defining test of Liberia’s geopolitical alignment and the credibility of U.S. foreign policy on the continent.
