Eric Finlayson, President of High Power Exploration Inc. (“HPX”), announced today that the Company has closed a US$88 million equity investment from a U.S.-based institutional investor.
The funds received will enable HPX, among other things, to fast-track development of the Nimba iron ore project, located in the Republic of Guinea with a target production of 20 million tonnes per annum of high-grade direct shipping ore with the possibility of further expansion in the future.
Mr. Finlayson said, “This investment underscores not only the high quality of the Nimba project but also the pipeline of world-class projects and opportunities that the HPX management team is working to deliver.”
HPX is a privately-owned, U.S.-domiciled mineral exploration and development company. For further information, please visit www.hpxploration.com.
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