Nimba Iron Ore (MIGA-14613)

Countries
  • Guinea
  • Liberia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
High Power Exploration (HPX)
The holder of the loan, grant, or other investment.
Sectors
  • Mining
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 123.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Aug 21, 2021

Disclosed by Bank Apr 6, 2021


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Project Description

According to the bank website, "The Project consists of the development of a high-grade, open pit, iron ore mine and associated facilities in the Nimba Mountains and adjacent lowlands in the Nzerekore Region of southeastern Guinea, located approximately 800 kilometers from Conakry. The scope of the project also entails the assessment of transport options for the evacuation of the iron ore from the Mine either through Guinean rail and port infrastructure or through neighboring Liberia."

Investment Description

Contact Information

Project contacts are not available at the time of disclosure.

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.miga.org/contact/access_to_information

You can also request general information about MIGA and for information on guarantees by emailing: migainquiry@worldbank.org

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org