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Friedland & BHP Billiton to enter purchase agreement for Guinea Iron ore project

22 May 2019 14:57 reported by Vicky Wang

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According to reports, mining tycoon Robert Friedland would enter into a purchase agreement with the owners of the Nimba iron ore project.

The Nimba iron ore mine was located at the junction of Guinea and Liberia. The project was owned by companies such as BHP Billiton, Newmont, and Areva, but has been discontinued for many years.

Guinea has a large number of iron deposits, but it has never exported iron ore because the cost of building railways in Guinea was high. The key to developing the Nimba iron ore mine was to obtain the railway transportation rights operated by ArcelorMittal.

ArcelorMittal said that if there was any remaining transportation capacity or if the company was willing to invest to add new transportation capacity, it will let other companies use the railway.

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