15th Apr 2014 08:56
LONDON (Alliance News) - Zanaga Iron Ore Co Tuesday said the Feasibility Study on its Zanaga Iron Ore Project, located in the Republic of Congo, is currently in the final stages of completion.
The iron-ore processing-and-transport infrastructure company said the results from its feasibility study are expected to be published in early May.
The company, which is yet to produce any revenues, has been developing the site towards production after announcing in September 2013 with its joint venture partner on the site, Glencore Xstrata PLC, that the site would be developed on a staged development process which should greatly enhance the site's economics and reduce capital costs.
The feasibility study for the site will include a stage 1 process, comprising a 12 million tonne per year slurry pipeline and up to an additional 2 million tonnes per year direct shipping ore operation, followed by stage two which is envisaged to expand the operations up to 20 million tonnes per year.
The company recently said the feasibility study was expected for completion during its second quarter and it will form the basis for an application for a Mining Exploitation Licence.
Zanaga Iron Ore shares were up 0.6% to 21.00 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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