Business
ZANAGA PROJECT UPDATE
ZANAGA PROJECT UPDATE.
About this update from Zanaga Iron Ore Co. Ltd.
[{"type":"text","content":"\n \nRNS Number : 2520U Zanaga Iron Ore Company Ltd 28 March 2019 \n\n28 March 2019\n \nZANAGA PROJECT UPDATE\n \nZanaga Iron Ore Company (\"ZIOC\" or the \"Company\") (AIM:ZIOC) is pleased to provide an update to shareholders on the Zanaga Project, including specifically the status of the Early Production Project (the \"EPP Project\").\nAn updated investor presentation will be loaded to the Company's website today.\nHighlights \nEPP Project\n· Targeting 1Mtpa production of high grade >65% Fe iron ore pellet feed concentrate / pellets with low impurities\n· Low capital cost development\no Evaluation process progressing well\no Targeting less than $50m capital cost for pellet feed project scope, or $110m for full pellet project\n· Substantial plant technical work complete\no Bulk sample utilised for product testing\no Low capex, low opex milling solution proven viable\no Beneficiation test work confirmed process flow sheet\no Indicative detailed pellet feed plant cost estimate received\no Bolt-on pellet plant cost estimate being refined\n· Preferred mining contractor selected - contract negotiation under way\n· Brownfield logistics solution entering final stages of definition\no Minor road upgrade cost of U$1m confirmed for road route to Franceville, Gabon\no Multiple trucking contractors engaged - optimal solution being refined\no Rail and port costs entering detailed negotiation\n· Construction estimated at approximately two years\n· On completion of assessment work, outcomes to be presented to the board of Jumelles Ltd, the joint venture company (\"Jumelles\")\nReview of 30Mtpa Staged Development Project\n· 2014 Feasibility Study model reviewed internally to illustrate potential impact of 65% iron concentrate index pricing formula\n· Value engineering opportunities continue to be investigated with potential to provide significant capital and operating cost savings\nEARLY PRODUCTION PROJECT \nAs announced on the 28th of December 2018, the EPP Project is envisaged as an initial development stage for the Zanaga Project (the \"Project\"), ta...