Business
ZIOC 2023 Annual Results announcement
ZIOC 2023 Annual Results announcement.
About this update from Zanaga Iron Ore Co. Ltd.
[{"type":"text","content":"\n\nZanaga Iron Ore Company Audited Results for the Year to 31 December 2023\n1 July 2024\n2023 Highlights and post reporting period end events to 30 June 2024\nZanaga Iron Ore Project (the \"Project\" or the \"Zanaga Project\")\n· 30Mtpa staged development project (\"30Mtpa Project\")\no 2024 Feasibility Study update process (\"2024 FS update\") completed, delivering positive results and further underlining the robust economics of the Company's 30 Mtpa Project (including both 12Mtpa Stage One (\"Stage One\"), plus 18Mtpa Stage Two expansion (\"Stage Two\")).\n§ 12Mtpa Stage One\n- Capital investment of US$ 1.94 billlion\n- Operating cost of US$ 31.5 / dmt FOB\n- Net Present Value of US$ 3.68 billion\n- Internal Rate of Return of 26.2%\n§ 18Mtpa Stage Two optional expansion\n- Capital investment of US$ 1.87 billion\n- Operating cost of US$ 24.9 / dmt FOB\n- Total combined Net Present Value of US$ 7.36 billion\n- Internal Rate of Return of 28.2%\no Chinese iron ore technical expert engineering firm (\"Chinese EPC Partner\"), engaged to lead the 2024 FS update process, now undertaking an optimisation study on the applicability of unique technology relating to the Zanaga 30Mtpa Project (\"Optimisation Study\") with the potential to provide further capital and operating cost savings beyond the results of the 2024 FS Update.\no FEED phase preparation\n§ Preparation for the Front End Engineering and Design (FEED) phase of the Zanaga Project is underway, including solicitation of cost and schedule estimates for the various workstreams associated with the FEED phase.\no Other strategic initiatives\n§ Hydro power MoU signed with China Machinery Engineering Corporation (\"CMEC\") relating to hydroelectric power solutions for the Zanaga Project and associated funding of such power projects (announced on 29 December 2023)\n§ Port MoU: Discussions underway with large scale port development companies interested in participating in the development of port infrastructure for the Zanaga Project.\n§ Strategic partner initiative: Approaches recevied from multiple parties interested in the development...