Name of the Project
Kon Kweni iron-ore project.

Location
The project is a cross-border operation in the Mano River Union, which includes Liberia, Guinea, Sierra Leone and the Côte d’Ivoire.

Project Owner/s
Kon Kweni is 85%-owned by Société des Mines de Fer de Guinée, a subsidiary of Ivanhoe Atlantic Inc, 10% by the government of Guinea and 5% by Mifergui.

Project Description
Kon Kweni offers one of the highest-grade undeveloped iron-ore deposits in the world.

The project will be completed in phases.

Phase 1 involves initial production of two-million to five-million tonnes a year. This phase includes the development of road, rail and port infrastructure, in Liberia, to connect to the existing Tokadeh – Buchanan rail line, with export through the Port of Buchanan.

Phase 2 will increase production to about 30-millon tonnes a year, with associated infrastructure upgrades.

Phase 3 entails the establishment of the Lola processing hub.

Potential Job Creation
The project will create about 470 Liberian jobs during the construction phase and an estimated 370 jobs during the operations phase.

Net Present Value/Internal Rate of Return
Not disclosed.

Capital Expenditure
Not stated.

Planned Start/End Date
Phase 1 construction activities are expected to start in the first quarter of 2026.

Phase 2 development is targeted to start in 2029.

Latest Developments
Ivanhoe Atlantic announced in October 2025 that it had completed environmental- and social-impact assessments (ESIAs) and submitted permit applications to the relevant authorities in Guinea and Liberia.

The Guinea ESIA relates to Phase 1 mining activities and the Liberian ESIA to the infrastructure component of its Phase 1 development.

Phase 2 will be subjected to separate ESIA processes.

Key Contracts, Suppliers and Consultants
Not disclosed.

Contact Details for Project Information
Ivanhoe Atlantic Inc, email media@ivanhoeatlantic.com.