HPX/Ivanhoe’s Stool of Lies Just Collapsed — One Leg at a Time

Robert Friedland

By Insights Staff Reporter

MONROVIA, Liberia —For years, HPX/Ivanhoe positioned itself as a champion of American interests in the global race for critical minerals. But the company’s carefully constructed narrative—built on what critics now call a “three-legged stool of lies”—is collapsing under the weight of mounting revelations.

The First Leg: A False Flag of Patriotism

HPX has long painted itself as a proudly American enterprise, safeguarding U.S. access to vital mineral resources. Yet documents and insider accounts reveal that its parent company is heavily backed and influenced by individuals with deep ties to the Chinese Communist Party. Far from being a bulwark against foreign influence, the company’s ownership structure suggests a troubling entanglement with Beijing’s strategic ambitions.

The Second Leg: A Diplomatic Fabrication

In July 2025, Liberian President Joseph Boakai traveled to Washington, D.C., for a high-profile visit. HPX boasted that it had masterminded the trip, claiming credit for orchestrating the President’s meetings and agenda. The assertion was not only false but deeply insulting. According to sources close to the Liberian government, the claim angered President Boakai and contributed to a three-month delay in signing the much-anticipated CAA (Comprehensive Agreement on Access). What was meant to be a moment of diplomatic triumph instead became a symbol of corporate overreach and deception.

The Third Leg: A Hollow Threat

Perhaps the most audacious misrepresentation came in HPX’s insistence that “no CAA, no Compact.” The company suggested that without its agreement, Liberia would lose access to a major U.S. development package. That threat has now been exposed as fiction. Despite the absence of a signed CAA, the United States is announcing a $500 million Compact with Liberia—proof that HPX’s leverage was illusory, its ultimatum empty.

A Strategy Built on Deception

Taken together, these revelations paint a portrait of a company whose entire strategy rested on misdirection. Each leg of the stool—patriotism, diplomacy, and leverage—has snapped under scrutiny. What remains is a collapsed edifice and a pressing question: if HPX has misled on matters this fundamental, what else have they been lying about?

The Broader Stakes

The collapse of HPX’s narrative carries implications far beyond corporate reputation. Liberia, a nation rich in mineral wealth but vulnerable to exploitation, now finds itself at the center of a geopolitical tug-of-war. For Washington, the episode underscores the risks of outsourcing strategic interests to companies whose allegiances may be compromised. And for the global mining industry, it is a stark reminder that transparency and accountability are not optional—they are essential.

As the dust settles, one truth is clear: when a stool is built on lies, it cannot stand forever.

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