Created: 06/05/2023Last Edit: 22/01/2024
Week: Week 18-2023Print Edition: 2023 – MayEdit Article
  • 10. Completed
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Equatorial Resources Limited To Acquire The Nimba Alliance Iron Ore Project

Equatorial Resources Limited has conditionally agreed to acquire the Nimba Alliance Iron Ore Project in Guinea, West Africa, aligning with its strategy to focus on large-scale iron ore exploration and development assets. The project, with one of the largest landholdings in Guinea’s Nimba Iron Ore Corridor, includes majority ownership of two permits: Nimba West (100%, ~300km2) and Nimba North (56%, ~183km2). Previously owned by an international mining consortium, including BHP, extensive historical work was completed between 2003 and 2015. The project has excellent transport solutions, located within 30km and 60km from the Lamco bulk commodity railway in Liberia. The acquisition is subject to due diligence, with consideration comprising 5 million Equatorial shares upon settlement and another 5 million deferred shares upon satisfactory renewal or extension of the Nimba West permit.

Download the Equatorial Resources Limited media release here: https://www.equatorialresources.com.au/uploads/2/8/0/8/28084707/230421_-_asx_announcement_acquisition_of_nimba_iron_ore_project_final.pdf

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Equatorial Resources Limited has entered into a conditional agreement to acquire the Nimba Alliance Iron Ore Project in Guinea, West Africa. The project includes two permits, one of the largest landholdings in Guinea's Nimba Iron Ore Corridor.
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Equatorial Resources Limited has agreed to acquire the highly prospective Nimba Alliance Iron Ore Project in Guinea, West Africa. The project includes one of the largest landholdings in Guinea’s Nimba Iron Ore Corridor.

#IronOreProject #mining #railway #Guinea #WestAfrica #Acquisition #Nimba

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