REG - Zanaga Iron Ore - Update on timing of 12Mtpa Project
RNS Number : 4715UZanaga Iron Ore Company Ltd06 April 20216 April 2021
Update on timing of 12Mtpa Project Re-Costing Exercise
Zanaga Iron Ore Company ("ZIOC" or the "Company") (AIM:ZIOC) announces that the re-costing exercise on the Zanaga 12Mtpa Staged Development Project ("FS Cost Review"), announced on 29 September 2020, is being completed and is expected to be concluded around the middle of April 2021.
As announced in September, Jumelles Limited ("Jumelles"), the joint venture company between ZIOC and Glencore initiated the FS Cost Review process in order to ascertain the potential costs associated with the construction of the Zanaga Project's 12Mtpa Stage One Project in the current contractor pricing market. External engineering firms were engaged by Jumelles to complete this evaluation.
A further announcement will be made once the FS Cost Review has been completed.
______________________________________________
The Zanaga Iron Ore Company Limited LEI number is 21380085XNXEX6NL6L23.
Zanaga Iron Ore
Corporate Development and Andrew Trahar
Investor Relations Manager +44 20 7399 1105
Liberum Capital Limited
Nominated Adviser, Financial Scott Mathieson, Edward Thomas
Adviser and Corporate Broker +44 20 3100 2000
About us:
Zanaga Iron Ore Company Limited ("ZIOC" or the "Company") (AIM ticker: ZIOC) is the owner of 50% less one share in the Zanaga Iron Ore Project based in the Republic of Congo (Congo Brazzaville) through its investment in its associate Jumelles Limited. The Zanaga Iron Ore Project is one of the largest iron ore deposits in Africa and has the potential to become a world-class iron ore producer.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.ENDUPDEAKLKEAXFEEA
Recent news on Zanaga Iron Ore
See all newsREG - Zanaga Iron Ore - Feasibility Study Update
AnnouncementREG - Zanaga Iron Ore - Corporate and Project Update
AnnouncementREG - Zanaga Iron Ore - Glencore Loan Update
AnnouncementREG - Zanaga Iron Ore - MoU signed with CMEC and FS Process Update
AnnouncementREG - Zanaga Iron Ore - Results of AGM
Announcement