[miningmx.com] – UK-listed iron ore and coal development firm, Sable Mining, has received a mining licence for its Guinea-based Nimba iron ore project, said Bloomberg News. Guinean president Alpha Conde signed the licence which allows development to begin, it said.
Sable estimates its Nimba project in southeast Guinea contains about 135 million tonnes of iron ore.
“There are two more steps to full permitting — export decree, then rail allocation,’ GMP Securities said in a note. “We see little logic to granting a mining license without export decree, so see that as a natural follow-on shortly.’
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