The Zanaga iron-ore project in the Republic of Congo has been granted a 25-year mining licence with a renewable option for 15-year periods. Its operators, a joint-venture between Aim-listed Zanaga Iron Ore Company (ZIOC) and diversified miner Glencore, have entered into a convention with the government of Congo.
The project, which has an expected mine life of 30 years, is situated approximately 300 kilometres northeast of Pointe Noire, the Lekoumou District of the Republic of Congo, also known as Congo Brazzaville. The project’s focus is on managing, developing and constructing a world-class iron ore asset capable of mining, processing, transporting and exporting 30 million tons of iron ore concentrate per annum, once in full production.
A 366 kilometre slurry pipeline will be used to transport end product to port for export. The expected mine life is 30 years. Progress on these mining project developments, as well as contact details for key personnel – from various contractors to mine engineers, will be regularly updated on the Africa Mining IQ intelligence portal.
The government of the Republic of Congo is yet to approve the convention as law, but the process is expected to be completed by the end of December 2014. Companies subscribing to Africa Mining IQ’s email alerts will be among the first to know when the convention is enacted.
ZIOC chairperson Clifford Elphick said that with receipt of the mining licence and progress on the convention, that the project is “now well-positioned to advance to the next stage of financing discussions.” Analysts at Liberum Capital said the company is now in a strong position to bring on board a strategic investor, which will value the asset significantly higher than its current share price.
All investment opportunities for this mining project are available for viewing on Africa Mining IQ. Opportunities like this, and many others, are available from Africa Mining IQ with over 1 850 projects currently listed, including mining projects in Congo. Not only can you stay up-to-date with the Zanaga mining project, but by registering with Africa Mining IQ, you can also find out about the other 82 mining projects in the DRC currently profiled on the Africa Mining IQ database.
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