High Power Exploration, a mining company run by billionaire businessman Robert Friedland, is planning to run the UK market for its Guinea mining.
In an interview with the Financial Times, Friedland said London would be a “natural place” to write about Nimba project, one of the finest metals in the world – an essential component of metal production.
The steel industry is exploring ways to reduce carbon emissions and the need for high-grade steel, which could improve furnace explosion and integrate with new hydrogen technologies, is expected to grow in the next few decades.
“We like to call it [the] beluga caviar of iron ore because the grade is too high and the pollutants are too low, “said Friedland, who has discovered some of the world’s largest salt mines.” higher. “
Located in southeastern Guinea, Nimba is estimated to have about 1bn tons of steel, though HPX plans to dig about 500m tons, which it plans to export via neighboring Liberia.
“If you start at 15m tonnes [of production] I’m going up to 30m, with a 25-year career, “Friedland said.
The project was intensified in December when the Liberian House of Representatives repealed a law that would allow architect ArcelorMittal to regulate the country’s Yekepa-Buchanan railway and deep water port.
This must now be approved by the Senate of Liberia. Arcelor owns a steel mine in the country that he wants to expand to $ 800m.
“No one should control the railways and the infrastructure,” Friedland said. “Liberia will directly benefit from transportation costs, as well as the operation and operation of the port. . . which are essential for the economic development of the country. ”
HPX said the mine would produce 2,000 direct jobs, of which 1,500 would be in Guinea and 500 in Liberia. However, it faces several challenges before the start of Nimba development.
The fund is adjacent to the Unesco heritage site, which is a multinational estate, and HPX said it would seek approval from the World Heritage Committee before proceeding with the project.
“We have promised that if Nimba is not developed with the best care in the environment, we will not develop,” Friedland said.
Guinea was shaking with conspiracy earlier this year and, although the military that defeated President Alpha Condé has allowed miners to continue working, the political situation remains unclear.
Previous attempts to create steel projects in Guinea, including half of Simandou and half of Rio Tinto, have failed due to lines of ownership and property.
HPX thinks so cost approximately $ 2.8bn Nimba production, plus $ 600m for Liberian railways and ports. If all else is planned, it will begin construction in 2023.