(NewsDirect)
Zanaga Iron Ore CEO Marty Knauth joinedSteve Darling from Proactive to share significant updates regardingthe company's flagship asset, the Zanaga Iron Ore Project locatedin the Republic of Congo. With all necessary permits and licensessecured, Zanaga Iron Ore is poised to capitalize on the positiveoutcomes of its 2024 Feasibility Study update.
Knauth highlighted the robust economics ofthe project, particularly its staged development plan. The first stageinvolves a capital investment of US$1.94 billion, with operating costsprojected at US$31.5 per dry metric tonne (dmt) of finished ore. Thenet Present Value (NPV) is estimated at US$3.68 billion, with anInternal Rate of Return (IRR) of 26.2%.
Moving forward, the company plans to focus on magnetiteexpansion projects, including infrastructure enhancements such as aburied concentrate pipeline and port infrastructure. Thesedevelopments are expected to further bolster the project'seconomic viability and attract potential strategic investors.
The positive feasibility study resultsprovide increased confidence in the project's economic feasibilitywithin the current market and cost environment. This serves as acatalyst for potential investors to consider funding the next phase ofthe project, which entails front end engineering and design programsto refine project elements and mitigate risks.
Furthermore, the next phase willprioritize the development of management plans for various aspectsincluding environment, community, training, health, water management,mine waste, and closure. These efforts underscore Zanaga IronOre's commitment to responsible and sustainable resourcedevelopment practices.
Knauth mentioned his recent travels toChina and Japan, where he engaged with potential investors, receivingpositive feedback. He noted that the detailed 2024 feasibility studyhas facilitated these discussions. The company is currently focused onfinalising the front-end engineering program, integrating technical,social, and risk assessments, and preparing for a constructiondecision.
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