Sable signs MoU with Liberia to develop infrastructure for Nimba
JOHANNESBURG (miningweekly.com) – Aim-listed exploration company Sable Mining Africa’s 80%-owned subsidiary West Africa Exploration SA (WAE) has entered into a memorandum of understanding (MoU) with the government of Liberia to develop infrastructure for its Nimba iron-ore project in south-east Guinea.
The MoU, Sable Mining said on Tuesday, would enable the parties to conduct technical due diligence, third-party discussions and negotiations with a view to entering into a binding infrastructure development agreement relating to WAE's development, use and operation of rail and port infrastructure in Liberia to export iron-ore products from the Mount Nimba project.
Sable Mining CEO Andrew Groves said the signing of the MoU was an important step for WAE, as the company sought to start the production of low-cost, high-grade direct shipping ore at Nimba in 2015, and also represented a milestone in cooperation between Guinea and Liberia.
“We look forward to working with the government of Liberia as WAE seeks to formalise arrangements relating to the development, use and operation of the relevant infrastructure in Liberia as soon as possible," he added.
In October, Sable Mining explained that the export licence authorising the transport of iron-ore from the Nimba project, in Guinea, through Liberia was in full accordance with a bilateral agreement between the two States.
“The bilateral agreement has already been implemented for projects involving companies in the area of the Nimba project, including the SMFG joint venture project, to promote economic growth, as these companies are less than 60 km from the rail line at Yekepa, in Liberia,” Sable noted.
The government of Guinea issued the export decree on October 7, authorising the mining company to export iron-ore produced at its Nimba project through Liberia to the Port of Buchanan – Liberia’s second-largest seaport.
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