High Power Exploration signs letter of intent to develop Liberia’s Liberty Corridor

By bne IntelliNews February 13, 2024

US-based mineral exploration company High Power Exploration (HPX) has signed a letter of intent with the Liberian government and pan-African investment group Guma Africa to negotiate the ownership, design, financing, development, and operation of the Liberty Corridor. 

The Liberty Corridor is intended to be a multi-user infrastructure corridor connecting Guinea and Liberia, which will include a new railroad from Guinea’s mining-rich Nimba region to a deepwater port in Liberia, alongside an extension of the hydropower network from Côte d’Ivoire into the Nimba districts. It is estimated to cost between $3bn to $5bn.

This partnership marks a major advancement in regional infrastructure, alongside ongoing projects such as road upgrades and fibre optic installation. The collaboration will help to revitalise the mineral-rich Nimba region and spurr economic development along the Liberty Corridor. Beyond infrastructure, the initiative is set to boost economic activities in sectors like mining, agriculture, manufacturing, healthcare, and education.

“HPX looks forward to being part of the growth of Liberia’s mining industry and working collaboratively with the government of Liberia to expand both the mining sector and multiuser infrastructure opportunities centred around the Liberty Corridor,” said HPX CEO Bronwyn Barnes, in a press release.

Related Articles

Turkey expands Sahel presence with mercenaries in Niger

Turkey has deployed private military contractors to Niger, escalating its involvement in the Sahel region amid the fragile security dynamics in Burkina Faso, Mali, and Niger, ... more

London-based EAAIF pledges $19mn to help build 136MW solar project in Zambia

The Emerging Africa and Asia Infrastructure Fund (EAAIF) has pledged $18.9mn to CEC Renewables' $96.7mn green bond to build a 136-megawatt (MW) solar farm in Zambia. The issuance is part of a ... more

Libyan eastern government bans celebrations of New Year’s Eve, Santa Claus imports

The Libyan eastern-based government led by Osama Hamad has officially banned all celebrations of New Year’s Eve, including the sale and importation of related goods such as Christmas trees, Santa ... more

Dismiss