Resolute Mining (ASX: RSG) and Guinea’s state-backed Nimba Mining Gold said on Friday they have formed a joint venture to advance gold exploration and development projects in the West African country.
Landaya Gold, established under a memorandum of understanding signed in March and headquartered in Conakry, will assess, explore and potentially develop gold-bearing areas identified in the country, the companies said.
Guinea, the world’s top bauxite producer, is seeking to expand its presence in gold and diversify beyond bauxite, which dominates its mining industry.
Resolute, which operates Mali’s Syama mine and Senegal’s Mako mine and is developing the Doropo project in Ivory Coast, said the partnership supports its West African growth strategy.
Nimba Managing Director Patrice L’Huillier said the joint venture would help build local expertise and create long-term value for the state and communities.
(Reporting by Maxwell Akalaare Adombila; Editing by Alexander Smith)
