Resolute Mining has entered into a strategic memorandum of understanding (MoU) with Nimba Mining Company (NMC) to explore potential gold projects in Guinea, with the backing of the country's Ministry of Mines and Geology.
This new partnership aims to enhance mineral exploration and development in Guinea.
It marks NMC's inaugural collaboration with an internationally listed company in the gold sector.
The collaboration will involve evaluating mineral resources, conducting geological studies, and creating strategic plans for possible large-scale gold production.
The expertise of both companies in mining operations, development, and exploration is expected to play a crucial role in these efforts.
This agreement reflects both companies' commitment to responsible and sustainable development within the Guinean gold sector, potentially benefiting local and regional stakeholders.
The MoU supports Resolute's strategy to expand its pipeline of growth opportunities within established West African gold regions.
It complements the company’s existing activities in Guinea, including a reconnaissance authorisation over 83km2 in the Siguiri Basin.
While the MoU is non-binding, it represents a significant step in NMC’s diversification strategy as supported by the Guinean Government under the “Simandou 2040 Vision and Program”, focusing beyond the bauxite sector.
NMC CEO Patrice L'Huillier said: “This partnership with Resolute will allow NMC to launch its gold projects in accordance with the State's guidelines indicated in the Simandou 2040 Program and the vision of the Ministry of Mines and Geology as NMC's technical supervisor.
“Choosing the option of co-developing mining projects with Resolute will strengthen the share of local content in Guinea's mining ecosystem.”
Further steps include completing a preliminary assessment of the identified mining areas within 90 days of signing the MoU.
A joint venture could be formed for future project development, however, any transactions will depend on technical evaluations, binding agreements, and regulatory approvals.
Last month, Resolute announced formal approval of the final investment decision (FID) for the Doropo Gold Project in Côte d’Ivoire.
