MiningWeekly reports that Nimba Development Company NDC, a west Africa-focused resource developer, has taken control of SDN (Societe de Developpement Nimba), The company is the owner of the Nimba iron ore project, formerly Zali Mining and previously West Africa Exploration.
The NDC owns 85 percent of SDN, with the remaining 15 percent held by the Government of Guinea.
NDC has entered into an agreement with the Government of Guinea to jointly develop the Nimba iron mine and related transport infrastructure to promote economic development in the Nimba region.
NDC is registered in the UK and has a team with international mining management experience, as well as Guinean and international shareholders.
SDN is registered in Guinea and has the right to develop iron ore resources adjacent to, but not including, mount Nimba Nature Reserve. The company and its shareholders must ensure that the Nimba Nature Reserve and its flora and fauna are protected first.
Therefore, all mining development activities must comply with international environmental protection standards and be monitored by UNESCO to ensure there are no negative impacts.
In addition to mine development, a railway extension will be built to connect the Nimba region with Liberia's existing Tokadeh railway and Buchanan port to ensure access to seaway markets.
It is expected that this infrastructure could be used by other users, attracting more capital to southeastern Guinea and improving the flow of people between Guinea and Libya.
"On behalf of all NDC employees, I would like to express my great pleasure in working with the Government of Guinea and the community representatives of Nimba," said Steven Din, CEO of NDC. "We have the opportunity to accelerate economic development and build iron ore development facilities in southeastern Guinea and export iron ore from the region for the first time through Libyan ports."
He hinted that the next step would be to complete the necessary feasibility studies with development and infrastructure partners and negotiate detailed future development plans.
"I look forward to implementing NDC's long-term strategy and helping to establish the world's third iron ore producing region in West Africa. In addition to Australia and Brazil, Guinea can also become a globally important iron ore producer, joining Liberia in achieving long-awaited economic development, "said Mr Ding.
