Zanaga Iron Ore (GB:ZIOC) has released an update.
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Zanaga Iron Ore Company Ltd has reported positive interim results for the first half of 2024 – the updated feasibility study for their 30Mtpa Project shows strong economics, with a substantial projected net present value and internal rate of return. The company remains debt-free after repaying its loan to Glencore and is actively engaging in discussions with potential strategic partners and port infrastructure developers. Additionally, Zanaga has secured further funding through an equity subscription agreement with Shard Merchant Capital Ltd, enhancing their financial position for ongoing project development.
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