https://www.engineeringnews.co.za

Sable confirms discussions around Liberia iron-ore export deal

23rd January 2015

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Aim-listed Sable Mining on Friday confirmed that it was in “advanced discussions” with the governments of Liberia and Guinea regarding its Mount Nimba iron-ore project, in south-east Guinea.

Media reports stated that the company was expected to soon sign a $1.3-billion, 25-year infrastructure development agreement with Liberia for the transshipment of Guinean-mined ore through Liberia.

The reports quoted Liberia National Investment Commission executive director George Gyude Wisner as telling journalists at a media briefing that Sable would invest $300-million over the first five years of the infrastructure development project.

It would invest the remaining $1-billion over an ensuing 20-year period.

“The agreement will serve as a boost to Liberia, as the company will rehabilitate and expand the existing rail corridor from Yekepa to the Port of Buchanan in line with the third party access rights between the government and [steel producer] ArcelorMittal,” Wisner was quoted as saying.

He said Sable would also build a new railway line from Guinea through Tokadeh to Yekepa to link with the existing railway in Yekepa.

As at April 2014, the Nimba iron-ore project had a Joint Ore Reserves Committee-compliant resource of 181.8-million tons at a grade of 58.8% iron. A preliminary feasibility study determined that it would cost $299.3-million to develop the mine to production stage.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.064 0.114s - 156pq - 2rq
Subscribe Now