Bronwyn Barnes has resigned as President and CEO of Ivanhoe Atlantic, the iron ore developer operating in Liberia and Guinea that is majority-owned by U.S.-Canadian billionaire Robert Friedland, according to information obtained by Business Insider Africa.
Barnes leaves after four years in the role, at a time when the company is grappling with major operational, regulatory, and geopolitical challenges across both countries.
A central obstacle for Ivanhoe Atlantic is access to export infrastructure in Liberia. The company’s plans depend on using the Yekepa–Buchanan rail corridor, which connects the Mount Nimba iron ore deposits to the Atlantic coast.
The railway is operated by steel giant ArcelorMittal, Liberia’s largest private employer, which is majority-owned by Indian billionaire Lakshmi Mittal.
Although Liberia’s legislature has approved a framework allowing multiple companies to use the rail line, ArcelorMittal’s ongoing expansion at Yekepa could constrain capacity, potentially limiting Ivanhoe Atlantic’s ability to move ore to port.
In Guinea, the company is facing a standoff with the government led by President Mamadi Doumbouya.
Ivanhoe Atlantic’s Nimba deposit is located near the Mount Nimba Strict Nature Reserve, an environmentally sensitive area that has attracted heightened environmental and social scrutiny.
This has slowed regulatory approvals and added uncertainty to project timelines.
At the same time, Guinea is prioritizing iron ore exports through its own national infrastructure, most notably a 670-kilometre railway linking the Simandou mining complex to the port of Morebaya.
That route, backed by Chinese mining and infrastructure firms, limits alternative export options and further complicates Ivanhoe Atlantic’s logistics.
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The broader market and geopolitical context has also worked against the company. China’s expanding presence in Guinea’s iron ore sector continues to weaken U.S. efforts to establish a strong foothold in the region.
Control over key assets lies with the Winning Consortium Simandou, led by Winning International Group alongside China Hongqiao Group and Yantai Port Group.
As a result, U.S.-linked projects such as Ivanhoe Atlantic lack access to the most strategically important deposits.
The Simandou deposits are estimated to hold around 2.8 billion tonnes of high-grade iron ore and could export as much as 120 million tonnes per year through an integrated system of mines, a roughly 600-kilometre railway, and the deep-water port at Morebaya, positioning the project to shape global iron ore markets for decades.
In July, the U.S. Embassy in Liberia supported the signing of a deal estimated at $1.8 billion between Ivanhoe Atlantic and the Liberian government to develop a rail corridor connecting Guinea and Liberia.
Despite this backing, the company has faced scrutiny from U.S. authorities over concerns about compliance and its strategic alignment, including perceived links to the Chinese Communist Party.
Ivanhoe Atlantic has rejected those claims, stating that it is entirely separate from Ivanhoe Mines.
The company, whose major shareholder is I-Pulse Inc., described suggestions of Chinese influence as “grossly incorrect and misleading.”
Ivanhoe Atlantic has repeatedly stressed that its Guinean operations are aligned with U.S. and allied supply chain priorities.
In a company release, Barnes stated, “None will go to China, and as an American company committed to U.S. national security, we will not export through China’s Trans-Guinean Railway.”
Barnes’ resignation underscores the complex mix of operational hurdles, regulatory delays, and geopolitical pressures facing foreign mining companies in West Africa, particularly where projects depend on shared infrastructure and involve oversight from multiple governments.
At the same time, U.S. diplomatic engagement in the region has become more pronounced, with Washington reportedly considering ways to encourage Guinea’s leadership to reconsider its stance.
Such efforts may include political or security cooperation and reflect broader U.S. priorities under President Donald Trump’s renewed focus on securing access to critical minerals and reducing dependence on supply chains controlled by China.
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Image Credit: The West Australian
