Mining dealmaker Mick Davis has won permission to export iron ore from a planned mine in West Africa, adding momentum to the industry veteran’s comeback.
Davis, through his new Niron Metals vehicle, has signed an agreement with Liberia that will allow him to use a rail and port to export iron ore from the mine that he’s seeking to build in neighboring Guinea, according to a statement.
The Zogota project, where mining giant Vale SA has already spent hundreds of millions of dollars, could be brought on quickly and relatively cheaply.
“This MOU is an important milestone in our plans to develop the Zogota project,” Davis said. “We intend to complete our feasibility study within six months and continue to work with relevant stakeholders to bring Zogota rapidly into production for the benefit of all.”
Earlier this year, a remarkable make-up deal between billionaire mining tycoon Beny Steinmetz and the Guinean government, ending a seven year dispute, gave Davis the opportunity to relaunch his mining career.
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