US-based mineral exploration company High Power Exploration (HPX) has signed a letter of intent with the Liberian government and pan-African investment group Guma Africa to negotiate the ownership, design, financing, development, and operation of the Liberty Corridor.
The Liberty Corridor is intended to be a multi-user infrastructure corridor connecting Guinea and Liberia, which will include a new railroad from Guinea’s mining-rich Nimba region to a deepwater port in Liberia, alongside an extension of the hydropower network from Côte d’Ivoire into the Nimba districts. It is estimated to cost between $3bn to $5bn.
This partnership marks a major advancement in regional infrastructure, alongside ongoing projects such as road upgrades and fibre optic installation. The collaboration will help to revitalise the mineral-rich Nimba region and spurr economic development along the Liberty Corridor. Beyond infrastructure, the initiative is set to boost economic activities in sectors like mining, agriculture, manufacturing, healthcare, and education.
“HPX looks forward to being part of the growth of Liberia’s mining industry and working collaboratively with the government of Liberia to expand both the mining sector and multiuser infrastructure opportunities centred around the Liberty Corridor,” said HPX CEO Bronwyn Barnes, in a press release.
Related Articles
Ukrainian forces capture Kenyan in Kharkiv amid Russia’s foreign recruitment drive
Ukrainian troops have captured a Kenyan national fighting for Russia during clashes near the town of Vovchansk in Kharkiv Oblast, the 57th Motorised Infantry Brigade said on Sept. 17, The Kyiv ... more
Kenyan MPs oppose Tanzanian tycoon’s bid for Portland Cement stake, urge buyback
Kenyan lawmakers have opposed the proposed sale of a 29.2% stake in East African Portland Cement (EAPC) to Tanzanian businessman Edhah Abdallah Munif, arguing the deal undervalues the company and ... more
Kenya, South Korea sign MoU on nuclear research reactor project at IAEA conference in Vienna
Kenya and South Korea have agreed to deepen cooperation on nuclear research and development, signing a memorandum of understanding focused on the Kenya Nuclear Research Reactor (KNRR) project at ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
23 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago