Resolute Mining and Guinea’s state-backed Nimba Mining Gold have formed a joint venture to explore and develop gold projects in Guinea, expanding a partnership first announced earlier this year, Reuters reported.The new company, Landaya Gold, is headquartered in Conakry and will assess prospective gold areas, carry out exploration and evaluate opportunities for development, the companies said on Friday.The venture follows a memorandum of understanding signed in March, when Resolute and Nimba agreed to study mineral resource targets with a view to developing large-scale gold projects. At the time, the companies said a joint venture structure had been agreed in principle and that they would report on mineral targets within 90 days.The agreement marked Nimba’s first partnership with an internationally listed gold producer and forms part of Guinea’s efforts to broaden its mining industry beyond bauxite. Guinea is the world’s largest bauxite producer, but the government has been seeking to build up other parts of the mining sector, including gold.Resolute already has a foothold in the country through a reconnaissance authorisation covering 83 square kilometres in the Siguiri Basin, one of Guinea’s main gold-producing regions. The company has said the partnership fits its strategy of building a pipeline of growth opportunities across established West African gold jurisdictions.The Australia-listed miner operates the Syama gold mine in Mali and Mako mine in Senegal and is developing the Doropo project in Ivory Coast. Resolute has previously said Guinea could eventually become home to its fourth operating mine.Nimba Managing Director Patrice L’Huillier said the partnership was aimed at strengthening local expertise and creating long-term value for the Guinean state and communities.The creation of Landaya Gold moves the partnership beyond the framework outlined in March, when the two companies had committed to jointly assessing mineral targets before proceeding towards potential large-scale gold development.The post Resolute, Nimba launch Guinea gold venture appeared first on Miningmx.
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