Sable Mining gets go-ahead for Guinea iron exports

7th Oct 2013 15:28

Sable Mining Africa has taken a major step towards launching production at an iron mine in Guinea.Sable has won permission from the Guinean government to export iron ore from its Nimba mine across the border to Liberia and then on to the port of Buchanan.The export decree allows it to avoid having to use the Guinean port of Conakry, which is further away.Sable said the news will allow it to start producing and shipping ore from Nimba in 2015.Chief Executive Andrew Groves said: "The issuance of our export decree, the first granted by the Government of the Republic of Guinea, is a major endorsement of Sable Mining and represents yet another critical milestone." Shares closed 0.74p up at 10.25p in London. PW