Sable Granted License for Iron Mine in Guinea

Bloomberg reported that Sable Mining Africa Ltd. (LSE:SBLM) has been granted a license to start mining its Nimba iron-ore project in Guinea.

As quoted in the market news:

The license has been signed by Guinean President Alpha Conde, allowing Sable to start developing the mine, it said in a statement today, confirming an earlier Bloomberg News report that cited a person with knowledge of the decision.

Sable estimates its Nimba project in southeast Guinea contains about 135 million metric tons of the steelmaking ingredient. The company has said it will seek to rail the ore through neighboring Liberia for export.

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