Zanaga hails Congo study results

Zanaga Iron Ore Company has reported positive results from a pre-feasibility study of its Republic of Congo project.

The study has recommended that the optimum scope of work for initial development of the Zanaga mineral resource would comprise an open pit, low strip mining operation and a concentrator.

This would produce 30m dry tonnes per annum of high quality 68% iron content product over a mine life in excess of 30 years, the report concluded.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Chairman Clifford Elphick said the study was a pivotal moment in the development of the Zanaga project.

"These results confirm that Zanaga is one of the most attractive undeveloped iron ore projects globally, with the potential to offer a low cost long life operation capable of producing a premium high quality iron ore product, with significant expansion potential," he said.

The project will now move into full feasibility study, the outcomes of which will guide a decision on whether to develop the Zanaga project's 6.8bn tonne mineral resource, the firm said.