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
Rainbow Rare Earths updates South Africa resource to include yttrium
Rainbow Rare Earths (AIM:RBW) has updated the Mineral Resource Estimate (MRE) for its Phalaborwa project in South Africa to include yttrium, which the company said reflects recent test work ... more
HRW urges Tunisia to overturn convictions in “Conspiracy Case” ahead of appeal hearing
Human Rights Watch (HRW) has called on Tunisian authorities to overturn the convictions issued in the so-called “Conspiracy Case,” urging the release of all detainees ahead of an appeal hearing ... more
AU chief rejects Nigeria genocide claims as Washington escalates warnings over sectarian violence
A senior African Union official has rejected allegations of genocide against Christians in northern Nigeria, prompting renewed scrutiny of Abuja’s handling of insecurity and drawing sharp responses ... more
Most Read
-
India’s smart metering push gains momentum
4 months ago
-
US expands oil sanctions on Russia
23 days ago
-
India’s smart metering push gains momentum
4 months ago