Equatorial Resources (ASX:EQX) plans acquisition of Nimba Alliance Iron Ore Project

Equatorial Resources (ASX:EQX) has entered into a conditional agreement to acquire the Nimba Alliance Iron Ore Project in Guinea, West Africa.

Equatorial Resources says the Project has one of the largest landholdings in Guinea's prolific Nimba Iron Ore Corridor and comprises majority ownership of two permits:

100% of the Nimba West permit covering about 300?, and 56% of the Nimba North permit covering 183?.

The company says the acquisition is consistent with its strategic focus on potentially large-scale exploration and development iron ore assets located within clusters of major iron ore projects.