Zanaga Iron Ore Completes Fundraise to Boost Project Development

Zanaga Iron Ore ( (GB:ZIOC) ) has provided an update.

Zanaga Iron Ore Company Limited has completed the second tranche of its equity fundraise, securing a total of US$23.01 million. This funding, supported by cornerstone investor Greymont Bay and other strategic investors, will accelerate key project workstreams and advance the company’s pre-construction engineering phase. The additional capital is expected to enhance the company’s operations and strengthen its position in the iron ore market.

More about Zanaga Iron Ore

Zanaga Iron Ore Company Limited (AIM: ZIOC) is an iron ore exploration and development company with its flagship asset being the Zanaga Iron Ore Project in the Republic of Congo. The project boasts a 6.9 billion tonne resource and a 2.1 billion tonne reserve, designed for high-grade pellet feed production. With key permits secured, Zanaga is positioned to meet the rising demand for high-quality, low-impurity iron ore, leveraging low operating costs and a cost-efficient slurry pipeline to the port.

YTD Price Performance: 3.70%

Average Trading Volume: 1,390,709

Technical Sentiment Signal: Sell

Current Market Cap: £79.57M

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