Blog Post
Nimba South and Gibi Mountain Iron Ore
Dr. Amir Mirchi • Jul 12, 2021
Nimba South and Gibi Mountain High-Grade Iron Ore Deposits Acquisition in Liberia
Sarmin Metals Ltd (SML)
is pleased to report conclusion of a shareholder agreement with West26 Pte Ltd, a Singapore-registered mining company, to develop through its wholly owned subsidiaries Westcrest Liberia Ltd and Ironfields Liberia Ltd, two large and high-grade iron ore deposits in Nimba South and Gibi Mountain in the Republic of Liberia. Both projects sit within the Nimba corridor to port Buchanan, where a recent surge in investment has led to the start of multiple iron projects by top-tier international mining companies.
The CEO of Sarmin Metals Ltd commented that we are delighted to expand further the company portfolio of iron ore projects by concluding our shareholding position in West26. Nimba South and Gibi Mountain deposits have previously been explored and further mapping and drilling campaigns already started to develop optionality with lower capex and a phased development approach. Nimba South’s deposit is remarkably close (hundred meters) to an existing Liberian government owned rail line while Gibi deposit is within 60km distance from the port Buchanan.
Stephane Rigny the chairman of SML said: “this is an incredible milestone consolidating further the SML portfolio of iron ore business while providing remarkable investment opportunities to the community of investors and iron ore players with limited infrastructure requirement and near/medium terms cashflow generation”.
Sarmin Metal Ltd.
is a socially responsible values-based business with the inspiration to become a mineral play by capturing and developing the most unique business opportunities in partnership, building a flexible balance sheet, and delivering near to medium-term value to its shareholders and local community.