Zanaga Iron Ore Project advances on Staged Development basis
Glencore Xstrata (“Glencore”) and Zanaga Iron Ore Company (“ZIOC”) (AIM:ZIOC) are pleased to announce a revised scope for the Zanaga Iron Ore Project (“the Project”), changed budgetary arrangements and the commencement of efforts to finance possible project implementation. The Project Feasibility Study is now being advanced on the basis of a staged development, substantially reducing the initial capital requirement and including the potential for initial production using existing infrastructure. The Project is working closely with the Republic of Congo Government to advance its development and support the Government’s objectives for …