Nimba Development Company (NDC) has begun a preliminary, technical information exchange with the Government of Guinea as part of its development of the Nimba iron ore mine.
NDC has shared with the Guinean Ministry of Mines and Geology its high-level plans prepared in conjunction with NDC’s technical partners, including:
- DRA Senet, who will manage the preparation of the 10 million tpy bankable feasibility study.
- Vecturis, who have carried out initial studies for the railway link to existing infrastructure in Liberia.
- Sea Invest/Sea Tech, who will work on the development and configuration of a new port in Buchanan, Liberia.
Technical and planning work is now sufficiently advanced to progress the bankable feasibility study, covering all aspects of the mining project and enhancements to core transport infrastructure. It is estimated that the feasibility study will be completed in a 6 – 7 month period from the IPO on the London market, which is planned for 4Q22.
The development of the Nimba mine and transport infrastructure will bring wide economic and social benefits to the region. It will enable the growth of iron ore mining in Guinea, both at NDC’s Nimba mine and from other operators looking to develop their assets in the region. The investment will support community development, increase tax revenues for the Guinean and Liberian governments and further encourage general trade and cooperation across West Africa.
“We believe that different sections of industry can all work together with government in a spirit of cooperation for the greater good. I see an impressive collective effort from local people in the Nimba region and across our country to help make Guinea a prosperous major global centre for iron ore production and am eager for the work to start,” Moussa Magassouba, Guinean Minister of Mines and Geology, commented.
Steven Din, NDC CEO, concluded: “At NDC, we believe that the development of the Nimba mine will catalyse the creation of a new third iron ore province in West Africa, alongside Western Australia and Brazil, that will enhance prosperity in Guinea and Liberia and support a broader goal to enhance trade and economic prosperity in the region.
“Our plans to progress the work with our technical partners has been shared with the Government of Guinea this week. The continued support of the governments of Guinea and Liberia and their input and knowledge are vital to the delivery of our milestones.
“International cooperation between and among governments and the business community will help deliver the benefits we are seeking. Together we can support prosperity and progress for communities on a local, regional, and international scale.”