Guinean mining company Nimba Development Company (NDC) has taken control of Société de développement Nimba (SDN), owner of the Nimba Iron Ore project, and unveiled development plans for the mine and related infrastructure.
The company said it had taken 85% control of SDN, with the Guinean government holding the remaining 15%.
Together with the government, the NDC has agreed to advance the development of the Nimba iron ore project and associated transportation infrastructure to encourage responsible economic growth in the region.
In addition to mine development, the parties will increase access to global maritime markets by expanding rail infrastructure and improving connectivity with the port of Buchanan on the Liberian coast.
Steven Din, managing director of NDC, said the next step for the project would be to work with its development and infrastructure partners to finalize the necessary feasibility studies and plans.
“We are excited to develop a modern 21st century mining company that places the environment and local communities at the heart of its identity.
“NDC’s management team is world-class, bringing skills and experience from across the industry to combine with local talent to ensure the timely delivery of our first project.”
The project is expected to have an annual capacity of 10 million tons of iron ore once in full production.
The development is the latest aimed at improving Guinea’s mining industry. In January 2021, the British company Hummingbird Resources began construction of the Kouroussa gold mine in Guinea after making way for equipment, a mining camp and a processing plant.