Friedland’s Ivanhoe Atlantic Pushes for U.S. Critical Mineral Status for High-Grade Iron Ore
Mining billionaire Robert Friedland’s new company, Ivanhoe Atlantic, is actively lobbying the U.S. government to include high-grade iron ore on its official list of critical minerals — a move aimed at aligning with national defense priorities and reducing reliance on foreign steel inputs.
The campaign supports the company’s flagship project in Guinea, the Nimba iron ore mine, which is set to begin production of 2 to 5 million tonnes of premium iron ore later this year, with output expected to ramp up to 25 million tonnes annually within seven years.
“You can’t build battleships without high-grade, high-tensile steel,” said Ivanhoe Atlantic CEO Bronwyn Barnes at an industry event on Wednesday.
“Not having high-grade iron ore on the U.S. critical minerals list is a shortcoming, given its importance to defense manufacturing.”
Ivanhoe Atlantic began lobbying efforts at the White House two years ago and has continued these under the current administration, according to the Australian Financial Review.
The company is highlighting the strategic and environmental advantages of high-purity iron ore, which is essential for producing “green steel” — a cleaner alternative that reduces energy use and greenhouse gas emissions.
The U.S. currently has no domestic source of high-grade iron ore and relies heavily on recycled steel and lower-quality inputs, leaving its supply chain vulnerable.
In Guinea, Ivanhoe Atlantic is advancing two key projects: Nimba and Kon Kweni, both known for their exceptionally high-grade iron ore reserves.
Friedland secured rights to Kon Kweni in 2019, taking over from a long-dormant consortium led by BHP.
The company’s push comes at a time when Rio Tinto’s Simandou project — also in Guinea — is nearing production, with a potential output of 120 million tonnes of premium ore per year. However, with a Chinese consortium in control of key blocks, U.S. access to that resource may be constrained by geopolitical tensions.
Meanwhile, Ivanhoe Atlantic is preparing to go public on the Australian Securities Exchange (ASX), choosing Sydney to capitalize on the country’s experienced mining investment base. Notably, Ivanhoe Atlantic is separate from Friedland’s Toronto-listed Ivanhoe Mines (TSX: IVN).
This latest move marks another major chapter in Friedland’s influential mining career, which includes the landmark Voisey’s Bay deal in 1996 and the development of Mongolia’s massive Oyu Tolgoi copper project.
With Ivanhoe Atlantic, he’s now leveraging Australia’s mining expertise to support a strategic U.S. pivot toward high-grade iron ore and critical mineral security.
SOURCE:mining.com
