Resolute, Nimba Mining establish JV dedicated to gold exploration in Guinea

ASX-listed Resolute Mining and Nimba Mining Gold (NMG) – an affiliate of Guinea State-owned mining group Nimba Mining Company (NMC) – have jointly signed the articles of association of Landaya Gold, their joint venture (JV), which will take forward the development of gold projects in Guinea.

The articles of association were signed by Patrice L’Huillier, representative of NMG, and by Karl Akueson, VP growth for Resolute Mining. Incorporation of the JV company is being finalised with the relevant authorities.

The signing gives effect to the strategic memorandum of understanding (MoU) signed by the two companies on March 31.

Landaya will assess, explore for and, where appropriate, develop gold-bearing areas identified in Guinea, building on the preliminary assessment carried out by the technical teams of both companies.

The JV company forms part of NMC’s strategy to diversify beyond the bauxite sector, supported by the government of Guinea and in line with the Simandou 2040 Vision and Programme, as well as Resolute’s growth strategy in West Africa’s established gold jurisdictions.

Landaya is owned 50% by Resolute Mining and 50% by NMG, and its registered office is in Conakry, in Guinea.

“With Landaya, we are moving from intention to action. Following the signing of our MoU, we are giving our partnership a joint legal vehicle capable of delivering gold projects that will make a real difference to Guinea.

“This company is Guinean in its roots and international in its standards: it will help strengthen local content, train talent and create lasting value for the State and for communities, in line with the guidelines of the Simandou 2040 Programme and the vision of the Ministry of Mines and Geology, NMC and NMG’s technical supervisory authority,” says L’Huillier.

“The creation of Landaya marks a decisive step in our commitment to Guinea. It reflects the trust built with the government of Guinea and the Ministry of Mines and Geology, in particular, and gives us the framework we need to advance with rigour and transparency on areas of interest with strong potential.

“True to our more than 30-year history in West Africa, we will carry out this work to the highest standards of safety, environmental performance and value sharing with communities and the State,” adds Akueson.