Equatorial Resources (ASX:EQX) has entered into a conditional agreement to acquire the Nimba Alliance Iron Ore Project in Guinea, West Africa, which was previously owned by an international consortium including BHP Grup (ASX:BHP).

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.