By Jaime Llinares Taboada

 

Zanaga Iron Ore Co. on Tuesday reported investor interest in its 50%-owned Zanaga iron ore project in the Republic of Congo.

ZIOC said that approaches continue to be received from investors interested in investing in Zanaga, although discussions remain at a very early stage.

Zanaga is operated by Glencore PLC, which also owns the remaining 50%.

The AIM-listed part-owner of the project said that there is increased engagement with other developers in the RoC to explore potential collaboration opportunities, particularly in relation to logistics solutions and alternatives for upgrades to existing infrastructure.

Moreover, ZIOC said capital and operating cost estimates for the first stage of the project remain within guidance given in 2014.

Shares at 0822 GMT were up 7.8% at 4.00 pence.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

September 28, 2021 04:46 ET (08:46 GMT)

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