RESOLUTE Mining has signed a memorandum of understanding with Guinea’s state-owned Nimba Mining Company to co-develop gold projects in the West African nation.
The MoU marks NMC’s first partnership with an internationally listed gold producer, the companies announced on Tuesday.
The companies will run studies on mineral resource targets ahead of large-scale gold production, they said. A joint venture structure has been agreed in principle. The parties have also undertook to report on minerals targets within 90 days.
“Choosing the option of co-developing mining projects with Resolute will strengthen the share of local content in Guinea’s mining ecosystem,” said Patrice L’Huillier, CEO of NMC.
Chris Eger, CEO of Resolute, said Guinea had the potential to host its fourth mine. “This partnership reflects our commitment to invest in Guinea and to share value with all stakeholders for sustainable projects,” he said.
The MoU fits Resolute’s broader strategy of building a pipeline of growth opportunities in established West African gold jurisdictions, the company said. It currently holds a reconnaissance authorisation covering 83km² within Guinea’s Siguiri Basin.
NMC’s diversification into gold forms part of a broader Guinean government strategy to develop sectors beyond bauxite, it said.
