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Republic of Liberia Signs MOU with Niron Metals for Export of Iron Ore from the Zogota Project

April 18, 2019

LONDON--(BUSINESS WIRE)--Apr 18, 2019--The Government of the Republic of Liberia and Niron Metals Plc (“Niron” or “the Company”) are pleased to jointly announce the signing of a Memorandum of Understanding (“the MOU”), regarding the passage through Liberia of iron ore from the Zogota iron ore deposit in the Republic of Guinea (“Zogota” or “the Project”). The MOU relates to the use of existing rail and port infrastructure in Liberia.

The signing of the MOU follows the joint vision of economic cooperation, expressed by the leaders of the republics of Guinea and Liberia, H.E. President Alpha Condé and H.E. President George Weah, at a meeting held in Dakar on the 2 April 2019.

The Government of Guinea has already given authorisation for Niron to export material from Zogota in compliance with the Mining Code of the Republic of Guinea 2013.

The Chairman of the Liberian National Investment Commission, Mr Molewuleh Gray said:

“This agreement opens a new chapter and supports the development of a world-class mining and logistics project for the benefit of the people of the Mano River Union.

“The Government will now initiate discussions with the railway and port concessionaire, relating to third-party access rights. Thereafter we anticipate accelerated tripartite discussions to commence”.

Sir Mick Davis, Chairman of Niron said:

“This MOU is an important milestone in our plans to develop the Zogota project. We intend to complete our feasibility study within six months and continue to work with relevant stakeholders to bring Zogota rapidly into production for the benefit of all.”

The MOU signatories from the Republic of Liberia were Hon. Samuel A. Wlue Minister from the Ministry of Transport, Hon. Gesler E. Murray, Minister from the Ministry of Mines & Energy, Hon. Molewuleh B. Gray, Chairman of the National Investment Commission, Hon. Samuel D. Tweah, Minister from the Ministry of Finance & Development Planning with their signatures attested by Cllr. Frank Musa Dean Jr. the Minister of Justice/Attorney General of the Republic of Liberia.

ENDS

About Niron

Niron Metals PLC is a private company established to review and capture long-term value creating opportunities in the global industrial metals and mining sector by leveraging the significant expertise, strong track record and networks of its principals.

Niron is committed to achieving the highest environmental, social and ethical standards in all its activities.

Niron aims to invest in industrial metals such as iron ore, nickel, chrome and manganese.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190418005466/en/

CONTACT: The Government of the Republic of Liberia

Mr. Melvin Sheriff

Director of Concessions& Public Private Partnerships

+231886544842

mailto:melvinsheriff@investliberia.gov.lrNiron Metals

www.nironmetals.com

Michael Oke/ Andy Mills

Aura Financial

+44 (0)207 321 0000

+44 (0)7834 368299

KEYWORD: LIBERIA UNITED KINGDOM EUROPE AFRICA

INDUSTRY KEYWORD: TRANSPORT RAIL NATURAL RESOURCES MINING/MINERALS PROFESSIONAL SERVICES LEGAL

SOURCE: Niron Metals PLC

Copyright Business Wire 2019.

PUB: 04/18/2019 10:38 AM/DISC: 04/18/2019 10:38 AM

http://www.businesswire.com/news/home/20190418005466/en