UPDATE 1-Friedland's HPX signs deal to develop Guinea's Nimba iron ore project [Reuters]
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Source: Reuters
UPDATE 1-Friedland's HPX signs deal to develop Guinea's Nimba iron ore project (Adds detail, context, quotes) By Saliou Samb CONAKRY, Sept 6 (Reuters) - HPX, a company run by billionaire mining investor Robert Friedland, signed a deal with the Guinean government late on Thursday to develop the Mount Nimba iron ore deposit, Guinea’s mines minister told Reuters. Friedland, founder and executive chairman of Ivanhoe Mines , has a long history of exploration and development of remote mineral deposits in countries including Mongolia and Democratic Republic of Congo. HPX is to take over stakes in Nimba previously owned by BHP , Newmont Goldcorp, and French nuclear group Orano, the company said in a statement. The Guinean government will also hold a stake in Société des Mines de Fer de Guinée (SMFG), the Guinean company operating the project, and two seats on its board, a document seen by Reuters showed. Financial terms of the deal were not disclosed. “We are confident this project will be de
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