Zanaga Iron Ore

Zanaga Iron Ore Profile and History

Zanaga Iron Ore Company Limited (ZIOC) is an iron ore exploration and development company, incorporated in the British Virgin Islands. The Company listed on AIM in November 2010 and trades under the symbol "ZIOC". The Company's flagship asset is its 50% less one share interest in the Zanaga Iron Ore Project located in the Republic of Congo, also commonly known as Congo-Brazzaville. Glencore plc ow ns the other 50% plus one share interest and has effective management control of the Zanaga Project. The Zanaga Project has been designed to be advanced on a staged development basis. This results in reduced capital costs, lower execution risk, and maximised capital returns for the Project. The Stage One development consists of a 12Mtpa operation, with Stage Two expanding the operation by a further 18Mtpa to produce a total 30Mtpa of high quality iron ore product over a 30 year mine life. Transportation to port will be via slurry pipeline in both stages, which facilitates the low cost delivery solution. The Project enjoys the benefits of having already secured its Mining Licence and agreed a Mining Convention with the Government of Republic of Congo. In addition, an Environmental Permit has been submitted to the Government.