Sable signs "Milestone deal"

PUBLISHED: Dec 01 2013 @ 15:41 | Comments (0) |

Sable Mining Africa (LSE:SBLM), the AIM listed exploration company, has revealed that its 80% owned subsidiary company West Africa Exploration S.A. (‘WAE’) has entered into a memorandum of understanding with the Government of Liberia (the ‘MOU’), the purpose of which is to enable the parties to conduct technical due diligence, 3rd party discussions and negotiations with a view to entering into a binding infrastructure development agreement relating to the development, use and operation of rail and port infrastructure by WAE in the Republic of Liberia, for the purposes of exportation of iron ore products from WAE’s Mount Nimba project in the Republic of Guinea.

Sable Mining CEO Andrew Groves said, “The signing of the MOU is an important step for WAE as it seeks to progress the Nimba Project towards commencement of operations in 2015 and also represents a milestone in co-operation between the Republic of Guinea and the Republic of Liberia.

“We look forward to working with the Government of Liberia as WAE seeks to formalise arrangements relating to the development, use and operation of the relevant infrastructure in the Republic of Liberia as soon as possible” said Mr Groves.

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