NIGERIA, GUINEA SET UP IRON ORE FIRM WITH LIBERIA Nigeria and Guinea agreed to set up a new company with Liberia to carry out the 14-year-old Mifergui-Nimba iron ore project, an official communique said. The communique was issued after two days of talks here between Guinean natural resources minister Ousmane Sylla and Nigerian minister of mines and power Bunu Sheriff Musa. Originally, Guinea held 50 pct in the project and Nigeria 16.2 pct with firms from several other countries also involved, but the project ran into problems over funding and the slump in world iron ore markets. Musa said Liberia was invited to join and its share will be decided after a project feasibility study. This would be completed in May after which finance will be sought. Officials said the study will be undertaken with the help of the World Bank, which is also expected to give financial support. Production, originally estimated at 15 mln tonnes a year, will be 12 mln initially and is expected to begin in early 1990. On an agreement between the two countries to prospect for uranium in Guinea, the communique said Musa and Sylla agreed that because of poor market conditions, it would be extended to cover exploration for gold, diamonds, cobalt, nickel and silver.