MONROVIA, Montserrado – The Liberian government has signed an agreement to allow Guinean mining companies to use Liberia’s railroads to export iron ore through the Port of Buchanan.
According to the Executive Mansion, the signing of the agreement paves the way for Guinea and Liberia to resume the implementation of an agreement both countries entered into about two months ago.
Acting foreign minister Abraham Korvah signed for the Liberian government, while Guinea’s mines and geology minister, Abdoulaye Magassouba, signed for his country.
President George Weah witnessed the signing ceremony prior to his departure for Gabon on Friday, the Executive Mansion said.
Reuters has reported that the agreement also builds on an initial memorandum of understanding signed six years ago and is a victory for U.S.-Canadian investor Robert Friedland’s HPX.
According to the report, the company had acquired Nimba, a high-grade deposit in southeast Guinea in September 2019.
“The mining projects in question are near the border with Liberia and cannot be profitable if they export through Guinea’s coast,” the report quotes Guinea’s mines minister Magassouba.
He said a graphite project owned by SRG Mining and a Zali Mining project would also be able to export through Liberia under the deal.
Featured photo by Flickr’s jbdodane