10,727.58 TRY BIST 100 BIST 100
36.60 USD USD USD
5.09 CNY CNY CNY
39.76 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
37.05 TRY Interest Interest
70.45 USD Fossil Oil Fossil Oil
33.88 USD Silver Silver
4.94 USD Copper Copper
104.46 USD Iron Ore Iron Ore
351.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,518.13 TRY Gold (gr) Gold (gr)

Genmin Secures 20-Year mining permit for Baniaka iron ore deposit in Gabon

Australia's Genmin secures long-term mining rights for lucrative Baniaka iron ore reserves in Gabon.

Genmin Secures 20-Year mining permit for Baniaka iron ore deposit in Gabon

Australia-based mining company Genmin has been awarded a 20-year mining permit for the lucrative Baniaka iron ore deposit located in southeastern Gabon. The granted permit opens the door for Genmin to tap into the substantial mineral reserves in the region.

The Baniaka iron ore deposit boasts proven reserves of 67 million tons of ore with an impressive iron grade of 47.4%, along with an additional 101 million tons featuring an iron grade of 43.1%. With a robust production capacity of 5 million tons annually, Genmin is poised to make a substantial impact on the global iron ore market.

The company aims to supply both fine and coarse ore to meet the demands of the international market. To facilitate this venture, Genmin has earmarked investments totaling $200 million for the development of production facilities and transportation infrastructure.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

China's crude steel production decreased in the first two months of the year

Monday, March 17, 2025

Egypt's rebar prices show stability amid minor increases in market

Monday, March 17, 2025

Türkiye's seamless pipe imports increased by 102% in January

Monday, March 17, 2025

Celsa Group and the European Commission discussed the EU Steel and Metals Action Plan

Monday, March 17, 2025

Esfahan Steel receives certificate of conformity to enter the UAE market

Thursday, March 13, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now