Zanaga Iron Ore Company Limited (ZIOC) announced an updated development strategy for the Zanaga Iron Ore Project, one of the largest iron ore projects in Africa. In a feasibility study released in April 2024, the company highlighted the project's strong economic potential and indicated that it would be advanced in line with existing regulatory approvals. With the capital increase process initiated in March 2025, new opportunities that could add value to the project were identified through discussions with investors. The company aims to increase the Net Present Value (NPV) of the project by more than USD 4 billion by focusing on four main areas of work after the second stage fund closing, which is expected to be completed on March 26, 2025.
The four work areas prioritized by ZIOC focus on increasing product value by testing the processability of ore to direct reduced iron (DRI) grade, feasibility studies for potential pellet production facilities, cost optimization with a single pipeline with a capacity of 30 million tons, and reducing long-term operating costs by switching to dry technologies in waste management. These studies aim to reduce the environmental impact of the project and ensure high efficiency in construction and operation processes.
The Zanaga Project, located in the Republic of Congo, stands out as one of the world's largest iron ore projects with 6.9 billion tons of resources and 2.1 billion tons of reserves. The project aims to produce high-purity (66-68.5% Fe) and low-impurity pellets, with an annual production capacity of 30 million tons. Zanaga, for which all legal permits have been obtained, aims to achieve a strategic position in the global market by responding to the increasing demand for low carbon steel production thanks to its low operating costs and efficient infrastructure.
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