Billionaire Friedland Banks on Liberia’s Railway to Tap Guinean Iron
- Access to Buchanan rail link may be key to developing Nimba
- ArcelorMittal is upgrading link to take supply through Liberia
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A mining company controlled by billionaire Robert Friedland is counting on getting access to a Liberian railway in order to develop its Nimba project in neighboring Guinea, one of the largest untapped iron ore resources.
High Power Exploration Inc. wants to begin development of Nimba -- located near Liberia’s border and estimated to hold 1 billion tons of high-grade iron ore -- next year. That likely requires being able to use a railway that feeds Liberia’s Buchanan port and which is being upgraded by ArcelorMittal SA, as routing supplies to terminals in Guinea and Ivory Coast is much harder.