REG - Zanaga Iron Ore - Corporate and Project Workstreams Update

Zanaga Iron OreAnnouncement

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RNS Number : 0398N  Zanaga Iron Ore Company Ltd  30 December 2025

30 December 2025

Zanaga Iron Ore Company Limited

("ZIOC" or the "Company")

Corporate and Project Workstreams Update

Zanaga Iron Ore Company Limited (AIM: ZIOC) is pleased to provide an update on
its objectives in relation to the Company's corporate activities and
workstreams related to the Zanaga Project (the "Project").

Q1 2026 near-term objectives:

·     Project value enhancement workstreams (6 January 2026)

o Throughout 2025, and in addition to other project development activities,
the Company has completed several workstreams aimed at improving the
construction, operations, strategic optionality, and overall economics of the
Zanaga Project

o The workstreams have been completed on time, and within budget, and are now
progressing through final ZIOC Board level review and approval

o These results will be announced on Tuesday, 6 January 2026

·     Project development strategy update (February 2026)

o Process plant Front End Engineering & Design ("FEED") results, including
updated capital and operating cost estimates based on a DRI flow sheet
developed through 2025

o Fully integrated project development plan, including economics of all
project enhancements assessed to date

o Update on logistics and infrastructure solutions required to support the
development of the Zanaga Project

·     Strategic Partner process (Q1 2026)

o ZIOC is pleased with the progress being made in engaging a number of
strategic investors interested in developing the Zanaga Project

o ZIOC intends on securing initial offers from investors during Q1 2026, and
is targeting the announcement of transaction terms with a selected strategic
investor during Q1 2026

 

Martin Knauth, CEO of ZIOC, commented:

 

"I am pleased with the significant progress we have made in advancing the
Zanaga Project during 2025. We have completed our targeted project value
enhancement workstreams on time and within budget, and look forward to
announcing the results of these workstreams on the 6(th) of January 2026.

 

In addition, we will be providing investors with a comprehensive Project
Strategy Update in February 2026, which will include an updated Project
economic assessment  incorporating FEED level design outcomes for the
Project's recently announced DRI product and its associated process plant
infrastructure.

 

I am also pleased with progress made with interested investment parties. As a
result, we intend on securing initial offers from investors during Q1 2026,
and are targeting the announcement of transaction terms with a selected
strategic investor during Q1 2026."

 

For further information, please contact:

 Zanaga Iron Ore Company Limited                         Andrew Trahar

 Corporate Development and Investor Relations Manager    +44 20 3916 5021

 Panmure Liberum Limited                                 Scott Mathieson / John More

 Nominated Adviser, Financial Adviser and Joint Broker   +44 20 3100 2000
 Tamesis Partners LLP                                    Richard Greenfield/ Charles Bendon

 Joint Broker                                            +44 203 882 2868
 Shard Capital Partners LLP                              Damon Heath

 Joint Broker                                            +44 20 7186 9952
 BlytheRay                                               Tim Blythe / Megan Ray / Will Jones

 Public Relations                                        +44 20 7138 3204

                                                         Zanaga@BlytheRay.com

 

ENDS

About ZIOC:

Zanaga Iron Ore Company Limited (AIM ticker: ZIOC) is an iron ore exploration
and development company, with its flagship asset being the 100%
owned Zanaga Iron Ore Project, located in the Republic of Congo. The
Government Mining Licence, Environmental Permit, and Mining Convention are all
in place for this project.

The Zanaga Iron Ore Project is a globally significant asset with a 6.9 billion
tonne resource and 2.1 billion tonne reserve, aimed at 30Mtpa production of
high-grade DRI pellet feed with very low impurity levels. A 2024 Feasibility
Study confirmed its strong economic viability. When fully developed, Stage One
(12Mtpa) and Stage Two (18Mtpa expansion) together could establish Zanaga as
one of the largest iron ore mines worldwide. With all key permits secured,
Zanaga is well positioned to benefit from increasing demand for high-quality,
low-impurity iron ore, utilising low operating costs and an efficient slurry
pipeline to the port.

In light of the changes in the world's economy and the increasing demand for
low-carbon steel production, the Zanaga Project is well-positioned to become
one of the largest producers of high-grade premium DRI pellet feed iron ore
concentrate.

The Zanaga Iron Ore Company Limited LEI number is 21380085XNXEX6NL6L23.

 

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