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In exchange for "Legislative Engagement” HPX and its subsidiaries rubbish FrontPage Africa article of alleged payment to Liberian House Speaker

In exchange for "Legislative Engagement” HPX and its subsidiaries rubbish FrontPage Africa article of alleged payment to Liberian House Speaker Featured

High Power Exploration (“HPX”), and its subsidiaries Ivanhoe Liberia and Société des Mines de Fer de Guinée (SMFG), note the FrontPage Africa article which suggests HPX issued a payment to the Speaker of the House of Representatives of Liberia in exchange for "Legislative Engagement". HPX confirms that this is categorically false and the purported “cash receipt” document pictured in the article is fake.

In a press release, HPX and its subsidiaries say they operate globally to the highest ethical standards and in full compliance with all legal requirements. HPX is committed to the eradication of corruption and bribery of any kind.

About HPX

HPX is a privately-owned, U.S.-domiciled mineral exploration and development company. Ivanhoe Liberia Limited is a Liberian Domestic Corporation and wholly owned independent subsidiary of HPX. SMFG is a Guinean incorporated mining company and an 85% owned subsidiary of HPX, owned in partnership with the Government of Guinea. For further information, please visit www.smfg.com Media contact Finsbury Glover Hering - HPX-L
Ivanhoe Liberia is the sister company to the Société des Mines de Fer de Guinée (SMFG), the company studying the development of the iron ore deposits of the Guinean Nimba Mountains.

Currently, the specific institutional and legal arrangements for the expansion and operations of the rail infrastructure from upper Nimba County, Liberia, to a port on the Liberian coast are under negotiation. This site will be updated as decisions are made.

Ivanhoe Liberia is owned 100% by High Power Exploration (HPX, a company registered in the USA).

The operations of Ivanhoe Liberia are backed by a political risk insurance policy issued by the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group. As such, the company adheres to MIGA’s Performance Standards, which are functionally identical to the IFC’s Performance Standards. These Performance Standards represent the most widely recognized international benchmark for responsible corporate performance.

 

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