Last Updated on May 19, 2025 by The Liberian Investigator
The Boakai administration’s sudden decision to withdraw its communication affirming ArcelorMittal Liberia’s (AML) role as Rail User Operator is a reckless reversal that undermines investor confidence, betrays years of structured negotiations, and threatens the integrity of Liberia’s most strategic national infrastructure. Even more troubling, this policy U-turn came only hours after a sharply worded letter from Ivanhoe Atlantic Inc.—a foreign private company—landed on the President’s desk. Let us call this what it is: capitulation under pressure.
In a May 3, 2025 letter addressed to President Boakai, Ivanhoe Atlantic—a subsidiary of billionaire Robert Friedland’s High Power Exploration (HPX)—brazenly challenged the Government of Liberia’s internal decision-making and accused the Inter-Ministerial Concessions Committee (IMCC) of procedural illegitimacy. This was not a respectful appeal. It was a veiled threat, thinly cloaked in diplomatic jargon but unmistakably clear in its intent to override a sovereign government’s judgment in favor of foreign business interests.
Ivanhoe’s letter implied, without evidence, that the IMCC’s decision to affirm AML as the Rail User Operator was null and void simply because not all statutory ministers were present. It questioned the legitimacy of Liberia’s cabinet processes and, more audaciously, called on the President to personally overturn a policy recommendation—treating our nation’s executive branch as a customer service desk rather than a constitutional authority.
This is not how nations are run. This is not how partnerships are built. No foreign corporation has the right to dictate infrastructure policy to a sovereign country. Ivanhoe would not dare speak to the President of the United States, Nigeria, or South Africa in this manner. Yet, it feels entitled to do so with Liberia. Why? Because it underestimates us.
The IMCC’s recommendation was not rushed, reckless, or secretive. It was the result of seven years of negotiation with AML, culminating in the Third Amendment to the Mineral Development Agreement (MDA) and a robust Rail Systems Operating Principles (RSOP) framework. This agreement not only allows AML to operate the Yekepa–Buchanan railway on a cost-recovery basis, but also guarantees open access for other users, including Ivanhoe, under the Government’s full regulatory oversight.
In fact, the RSOP empowers the Government of Liberia to approve additional users, audit operations, set standards, and—if AML fails in its duties—remove it as operator. There is no exclusivity, no monopoly, and certainly no abuse of power. What Ivanhoe is demanding is not fairness—it’s control.
In fact, the RSOP—part of AML’s Third Amendment—is the clearest policy instrument yet in Liberia that outlines how multi-user access can be achieved in a structured, safe, and government-controlled way. If anything, this model strengthens Executive Order 136. To now abandon it because of a foreign company’s complaint is to undermine Liberia’s own policy logic.
And that demand comes despite AML’s undeniable track record. Since 2005, ArcelorMittal has invested over $2.5 billion in Liberia, employing thousands, paying taxes, building infrastructure, and sticking with Liberia through civil war, Ebola, and economic downturns. It has proven to be a long-term partner—something HPX has yet to do. HPX’s Liberty Corridor project, a still-theoretical trans-Guinean rail line, is not a Liberian project. Guinea has explicitly stated that any use of Liberia’s infrastructure is temporary. Liberia must therefore prioritize its own development and trusted partners.
Ivanhoe’s letter inaccurately cites Executive Order No. 136—signed by President Boakai in October 2024—as a legal obligation for Liberia to implement an “independent operator model.” This is false. EO 136 established the National Rail Authority (NRA) to oversee and regulate Liberia’s rail infrastructure, not to dictate a specific operating entity. Nowhere in that order is AML prohibited from continuing as Rail User Operator—especially under a regulated, cost-neutral model that ensures multi-user access.
In fact, the RSOP—part of AML’s Third Amendment—is the clearest policy instrument yet in Liberia that outlines how multi-user access can be achieved in a structured, safe, and government-controlled way. If anything, this model strengthens Executive Order 136. To now abandon it because of a foreign company’s complaint is to undermine Liberia’s own policy logic.
President Boakai has shown strong leadership on many fronts, and his administration has promised to build a transparent, investor-friendly, and rule-of-law-based government. But this reversal weakens that promise. If a single letter from a foreign investor—one not yet contributing meaningfully to Liberia’s economy—can derail years of policy work, what message does this send to other investors? That our policies are up for renegotiation by whoever shouts loudest or writes most indignantly?
This is not how Liberia should be governed. It sets a dangerous precedent where decisions made by inter-ministerial consensus are scrapped overnight based on foreign lobbying. The Yekepa–Buchanan railway is not for auction. It is a national lifeline—one that must be protected by Liberians, for Liberians.
To HPX and its subsidiary Ivanhoe Atlantic: You are welcome to invest in Liberia. But you must respect our institutions. You must respect our agreements. You must respect our President—not lecture him through diplomatic tantrums. If you wish to use our infrastructure, do so lawfully, cooperatively, and within the frameworks we have developed through national consultation.
President Boakai must now reaffirm his commitment to the RSOP and the Third Amendment. AML’s role as operator—under government regulation—is the most balanced path forward. It allows for multi-user access, ensures accountability, and protects the investments that have sustained this country through its darkest periods.
Let no foreign letter, no boardroom in Toronto, and no billionaire’s ambition redefine Liberia’s sovereignty.
Liberia must lead. Liberia must decide. And Liberia must not be bullied.
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