Robert Friedland's high power exploration (HPX) said on Monday that the Nimba iron ore project in southeastern Guinea has raised US $200 million, foreign media reported.

The funding will enable HPX to move the project forward quickly. The project was initially expected to produce 15 million tons of iron ore annually and is expected to start exporting in 2025-2026.

In the 1990s, Friedland developed nickel projects in voisey's Bay, Canada, and participated in oyu Tolgoi copper project in Mongolia and kamoa kakula project in Congo.