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Zanaga Iron Ore
(LSE:ZIOC)
Zanaga Iron Ore (ZIOC) vs. iShares MSCI United Kingdom ETF (EWC)
Zanaga Iron Ore Business Overview & Revenue Model
Zanaga Iron Ore Financial Statement Overview
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -2.22M | -2.67M | -461.00K | -1.23M | -1.10M |
| Net Income | -2.29M | -2.72M | 8.10M | -1.90M | -1.82M |
Balance Sheet | |||||
| Total Assets | 86.32M | 88.04M | 86.43M | 37.89M | 37.76M |
| Cash, Cash Equivalents and Short-Term Investments | 110.00K | 899.00K | 310.00K | 387.00K | 352.00K |
| Total Debt | 91.00K | 1.80M | 500.00K | 0.00 | 0.00 |
| Total Liabilities | 778.00K | 2.22M | 1.22M | 153.00K | 184.00K |
| Stockholders Equity | 85.54M | 85.82M | 85.20M | 37.74M | 37.58M |
Cash Flow | |||||
| Free Cash Flow | -1.16M | -1.79M | -97.00K | -873.00K | -369.00K |
| Operating Cash Flow | -1.16M | -1.79M | -97.00K | -873.00K | -369.00K |
| Investing Cash Flow | 0.00 | 0.00 | -95.00K | -604.00K | -578.00K |
| Financing Cash Flow | 344.00K | 2.29M | 0.00 | 1.52M | 564.00K |
Zanaga Iron Ore Peers Comparison
Zanaga Iron Ore Corporate Events
Zanaga Iron Ore Company has released a recording of its recent investor presentation and Q&A session, now available on its website, outlining details of the proposed strategic investment by Red Arc Minerals. The session served as a transaction briefing, giving investors greater visibility on the planned deal, which could influence funding and development of the large-scale Zanaga Iron Ore Project in Congo and its positioning in the high-grade iron ore market.
With all core permits secured and a planned two-stage ramp-up to one of the world’s largest iron ore mines, the company is seeking to capitalise on rising demand for premium DRI pellet feed suited to lower-carbon steelmaking. The additional clarity around the Red Arc Minerals investment is likely to be of interest to stakeholders monitoring the project’s financing path, execution risk, and long-term role in the evolving green steel supply chain.
The most recent analyst rating on (GB:ZIOC) stock is a Hold with a £8.00 price target. To see the full list of analyst forecasts on Zanaga Iron Ore stock, see the GB:ZIOC Stock Forecast page.
Zanaga Iron Ore Company Limited has announced that CEO Martin Knauth and Corporate Development & Investor Relations Manager Andrew Trahar will host a live investor presentation and Q&A via the Investor Meet Company platform on 12 March 2026. The event, open to existing and potential shareholders, is intended to enhance engagement with investors and provide an update on the company’s strategy and progress at its large-scale Zanaga iron ore project in the Republic of Congo, which aims to position the firm as a key supplier of premium iron ore into the decarbonising steel industry.
The most recent analyst rating on (GB:ZIOC) stock is a Hold with a £8.00 price target. To see the full list of analyst forecasts on Zanaga Iron Ore stock, see the GB:ZIOC Stock Forecast page.
Zanaga Iron Ore Company has signed a binding term sheet with U.S.-based Red Arc Minerals for a staged, non-dilutive strategic investment in its Zanaga Project via subsidiary Jumelles. The structure would see up to US$25 million invested in Tranche One for a 20% stake in Jumelles to fund technical work through front-end engineering and a Final Investment Decision, with RAM gaining board representation and reserved matters rights.
A second optional tranche would allow RAM to pay US$125 million to ZIOC for an additional 67.5% stake, taking its total Jumelles ownership to 87.5% and leaving ZIOC with 12.5% plus a 1% net smelter return royalty on future iron ore concentrate sales, partly buyable back for US$50 million. The deal, treated as a fundamental change of business and related party transaction due to backing from industry figures including Sir Mick Davis and Heeney Capital, is designed to avoid dilution, create a near-term cash floor for shareholders, and give ZIOC flexibility to reinvest at FID while preserving long-term upside from both equity and royalty interests.
ZIOC has granted RAM exclusivity until June 2026, agreed to potential break and alternative transaction fees, and is targeting completion of definitive joint venture documentation by end-May 2026 and shareholder approval by end-June 2026. Management presents the proposed transaction as a major acceleration of its growth strategy, arguing that RAM’s capital and expertise could de-risk project development, strengthen ZIOC’s industry positioning in high-grade iron ore, and potentially deliver substantial cash returns and recurring income to shareholders if the project advances to production.
The most recent analyst rating on (GB:ZIOC) stock is a Hold with a £8.00 price target. To see the full list of analyst forecasts on Zanaga Iron Ore stock, see the GB:ZIOC Stock Forecast page.
Zanaga Iron Ore Company Limited will host an investor briefing during Mining Indaba 2026 in Cape Town on 10 February, where it plans to update shareholders on its strategic partner process and development plans for the Zanaga Iron Ore Project. The company will publish the event presentation on its website and intends to release further details about the investor event shortly, underlining its efforts to advance project development and communicate progress to the market.
The most recent analyst rating on (GB:ZIOC) stock is a Hold with a £8.00 price target. To see the full list of analyst forecasts on Zanaga Iron Ore stock, see the GB:ZIOC Stock Forecast page.
Zanaga Iron Ore has completed a series of project value enhancement workstreams for its Zanaga Iron Ore Project, delivering a potential US$11.3bn increase in revenue over the project’s initial 30-year life, US$352m in net capital expenditure savings and US$2.2bn in cash cost reductions. The studies confirmed the project’s ability to produce high-grade DRI pellet feed, assessed options for adding pellet plants, evaluated a single 30Mtpa pipeline configuration that shifts but reduces total pipeline capex, and examined thickened and dry tailings solutions, collectively improving the project’s economic profile, engineering robustness and environmental performance. The company plans to publish updated project economics and a full development strategy in February 2026 and is progressing a strategic partner process, with initial offers and a targeted transaction announcement expected in the first quarter, moves that could materially influence financing, risk profile and positioning in a rapidly decarbonising steel sector.
The most recent analyst rating on (GB:ZIOC) stock is a Hold with a £8.00 price target. To see the full list of analyst forecasts on Zanaga Iron Ore stock, see the GB:ZIOC Stock Forecast page.
Zanaga Iron Ore Company has set out a packed Q1 2026 schedule for advancing its flagship Zanaga Project, confirming that a suite of project value enhancement workstreams completed in 2025 are now undergoing final board review ahead of detailed results being published on 6 January 2026. The company will follow this with a February project development strategy update incorporating FEED outcomes for its DRI-focused process plant, revised capital and operating costs, and an integrated plan covering logistics and infrastructure, while in parallel running a strategic partner process to secure initial investor offers and agree transaction terms with a preferred partner during the first quarter, a timeline that could prove pivotal to funding and bringing one of the world’s largest potential iron ore mines into development.
Zanaga Iron Ore Company Limited announced that all resolutions were approved at its Annual General Meeting held on 19 December 2025, providing shareholder backing for the company’s governance and strategic direction as it advances the Zanaga Iron Ore Project. With a sizeable permitted resource base and a feasibility study confirming strong economics for staged development, the company’s successful AGM underpins its efforts to establish one of the world’s largest high-grade iron ore operations, reinforcing its positioning in the global shift toward higher-quality feedstock for lower-carbon steel production.