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.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
South African court rules Bitcoin qualifies as "capital", "money" under exchange controls
The South Gauteng High Court in Johannesburg has ruled that Bitcoin constitutes both “capital” and “money” under South Africa’s exchange-control framework, in a landmark judgment that could ... more
Ghana to evacuate 161 citizens from Cambodia as fake deportation scare spreads
Ghana has evacuated 85 citizens from Cambodia and is arranging the return of another 76, authorities said, amid concerns sparked by a fake online notice falsely claiming African nationals faced ... more
Kenya Airways and Rubis Energy to build Africa’s first sustainable aviation fuel refinery in Kenya
Flag carrier Kenya Airways Plc (NSE:KQ) and Rubis Energy Kenya, a subsidiary of Rubis SCA (EPA: RUI), a French energy group, have signed a memorandum of understanding to develop Africa’s first ... more