Resolute Mining Limited (“Resolute”) (ASX/LSE: RSG) and Nimba Mining Company S.A. (“NMC”) - a 100% Guinean state-owned company – are pleased to announce that a strategic Memorandum of Understanding (“MoU”) has been signed regarding the potential co-development of gold projects in Guinea. With the involvement of the Government of Guinea represented by the Ministry of Mines and
Geology this partnership represents a significant milestone in advancing mineral exploration and development activities within one of West Africa's most prospective gold regions.
This Memorandum represents NMC’s first collaboration with an international listed company operating in the gold sector. The partnership will focus on jointly assessing mineral resources, conducting comprehensive geological studies, and developing strategic frameworks for potential large-scale gold production operations. Both companies bring extensive expertise in mining operations, development and exploration.
This announcement underscores the commitment of both Resolute and NMC to developing the goldsector in Guinea in a responsible and sustainable manner. The partnership is expected to generate significant opportunities for local and regional stakeholders.
NMC's Chief Executive Officer, Patrice L'Huillier commented:
"This partnership with Resolute will allow NMC to launch its gold projects in accordance with the State's guidelines indicated in the Simandou 2040 Program and the vision of the Ministry of Mines and Geology as NMC's technical supervisor. Choosing the option of co-developing mining projects with Resolute will strengthen the share of local content in Guinea's mining ecosystem".
Resolute’s Chief Executive Officer, Chris Eger commented: "We are delighted to have been selected by NMC and the Guinean Government for the co-development of gold projects in Guinea. This partnership reflects our commitment to invest in Guinea – a jurisdiction that we believe has the potential for Resolute to develop a fourth mine – and to share value with all stakeholders for sustainable projects. Our teams remain mobilized for the evaluation of areas of interest with high potential in collaboration with the NMC teams and the support of the Ministry of Mines and Geology".
Overview of the MoU
The MoU is part of NMC's diversification strategy supported by the Guinean Government for the development of projects other than in the bauxite sector in accordance with the Simandou 2040 Vision and Program.
The MoU is non-binding, and any proposed transaction remains subject to technical evaluation, the negotiation and execution of legally binding agreements and receipt of all applicable regulatory approvals. The parties have agreed that their respective technical teams will seek to complete a preliminary assessment of the identified mining areas within the next 90 days following the signing of this Memorandum. The principle of joint development of projects via a joint venture to be created was also agreed by the two parties.
About Resolute Mining Limited:
Resolute is an Africa-focused gold miner with over 30 years of experience as an explorer, developer, and operator. Over the course of its history, the company has produced more than 9 million ounces of gold from ten gold mines.
