Friedland’s Ivanhoe Atlantic urges US to list iron ore as critical mineral

Mining billionaire Robert Friedland’s latest venture, Ivanhoe Atlantic, is reportedly lobbying the US government to add high-grade iron ore to the country’s list of critical minerals.The move aims to align with Washington’s broader push to secure materials essential for military manufacturing, as part of a national strategy to boost defence capabilities.“You can’t build battleships without high-grade, high-tensile steel, so I think there is going to come a point where it goes on the critical minerals supply list in the US,” Ivanhoe Atlantic president and chief executive, Bronwyn Barnes, said speaking at an industry event Wednesday. “The US critical mineral supply list is dominated by materials that are required for the defence sector … not having high-grade iron ore on that critical mineral supply list is a shortcoming.”According to the Australian Financial Review, Barnes confirmed the company began lobbying the White House two years ago and has continued those efforts under the current administration.High-purity iron ore plays a crucial role in producing so-called green steel, which uses less energy and emits fewer greenhouse gases during production. Ivanhoe Atlantic is advancing two major iron ore projects in Guinea — Kon Kweni and Nimba — both known for their exceptionally high-grade ore.The US lacks domestic sources of high-grade iron ore and currently relies on recycled materials and lower-grade inputs, leaving its steel industry vulnerable.Ivanhoe’s push comes as Rio Tinto’s giant Simandou iron ore mine in Guinea is expected to begin production by the end of 2025, Once fully operational, Simandou could deliver up to 120 million tonnes of premium ore annually. With a Chinese consortium controlling Blocks 1 and 2 of the project, analysts believe US interest in that supply will be limited due to ongoing trade tensions with Beijing.ASX listingIvanhoe Atlantic, which is not connected with Friedland’s Toronto-listed Ivanhoe Mines, is finalizing its initial public offering on the Australian Securities Exchange (ASX). The company selected Sydney for its listing to tap into a mining-savvy investment community familiar with iron ore, Australia’s largest export.Friedland, one of the mining industry’s most prominent dealmakers, made a name for himself by selling the Canadian copper-nickel project Voisey’s Bay in 1996, later developing Mongolia’s massive Oyu Tolgoi copper deposit, now owned by Rio Tinto.He secured rights to the Kon Kweni project in 2019, taking over from a consortium led by BHP after years of inactivity.Ivanhoe Atlantic’s planned IPO marks Friedland’s latest effort to expand his influence, this time leveraging Australia’s expertise in iron ore and critical minerals. Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com