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26.01.15 10:23

LSE:SBLM: Agreement to Utilise Established Rail Corridor
SABLE MINING
26 Jan 2015 07:00:11
Sable Mining Afr.Ltd
RNS Number : 0890D
Sable Mining Africa Limited
26 January 2015

Sable Mining Africa Ltd / Index: AIM / Epic: SBLM / Sector: Natural Resources
 
Sable Mining Africa Limited ('Sable Mining' or 'the Company')

Agreement to Utilise Established Rail Corridor to Port of Buchanan
 
Sable Mining Africa Ltd, the AIM listed iron ore exploration and development company, is pleased to announce that West Africa Exploration S.A. ('WAE'), its 80% subsidiary, has signed an Infrastructure Development Agreement ('IDA') with the Government of Liberia relating to the development, ownership rights, financing, use and operation of rail and port infrastructure in the Republic of Liberia necessary to facilitate the export of iron ore from the Company's flagship asset, the Nimba Iron Ore Project in south-east Guinea ('Nimba' or the 'Project'), through Liberia utilising the established rail line from Yekepa to the Port of Buchanan.  A press release prepared by the Government of the Republic of Liberia is published below.
 
Overview:
 
·    Landmark agreement signed between the Government of Liberia and WAE, for a 25 year IDA relating to the export of Guinean-based natural resources through Liberia to the Port of Buchanan from Nimba.

·    Provides a framework for (amongst other matters):

o the granting and obtaining of additional rights necessary to implement the Liberian aspects of the Project; and  

o the rehabilitation and expansion of the existing rail corridor from Yekepa (30km from the Project), to the Port of Buchanan.

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