THIS
ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF
ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS
PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH
THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR
11 Dec 2024
Mineral Export Facility
Development MoU signed with Arise
Zanaga Iron Ore Company Limited
("ZIOC" or the "Company") (AIM: ZIOC) is pleased to announce that
it has entered into a Memorandum of Understanding ("Port MoU") with
Arise Integrated Industrial Platforms Limited ("Arise") (together
the "Parties") to advance the development of the Zanaga Iron Ore
Project's ("Zanaga Project") onshore and offshore port
infrastructure.
Arise is a large international
corporation whose core divisions and specialties are developing
industrial ecosystems inclusive of design, financing, construction
and operation of interconnected infrastructure, with a particular
focus on Africa. Arise is leading the development of a Special
Economic Zone ("SEZ") at Pointe-Noire and is therefore uniquely
positioned to host the Zanaga Project's concentrate handling
facility within the SEZ and develop a mutually beneficial Mineral
Export Facility.
Scope of Collaboration
Arise and ZIOC have entered into the
MOU with a view to collaborating on, amongst other items, key
aspects of the necessary port facilities for the Zanaga
Project:
1. Completion of
engineering works required for geographical general arrangement,
utilities (power, water, internet, roads and sub-surface works),
concentrate handling and export infrastructure (shorefront,
breakwater, jetty and ship loaders).
2. Definition of a
services agreement between the Parties where Arise provides
services for SEZ leasing, concentrate handling, facility
maintenance and utilities.
3. Definition of a
capital return agreement to provide a return on the capital
investment required for infrastructure.
Background
The Company aims to develop the
Zanaga Project, comprising iron ore deposits located in the Zanaga
mining licence area, in the western part of the Republic of Congo.
The Zanaga Project represents one of the largest iron ore reserves
in the world with a JORC compliant 6.9 billion tonne iron Ore
Resource and with 2.1 billion tonnes in iron Ore Reserve. The
Zanaga Project is planned to be developed in stages, ultimately
ramping up to targeted 30Mtpa of iron ore production
capacity.
Arise is a highly regarded operator
and developer of industrial ecosystems, designing, creating,
financing and developing interconnected infrastructure, enabling
superior logistics solutions for its partners. The Arise portfolio
consists of three existing port assets in West Africa, as well as
the development of the SEZ in Pointe-Noire.
Arise has entered into arrangements
with the Republic of Congo regarding the development of the SEZ in
Pointe-Noire and its related infrastructures facilities.
Clifford Elphick, Chairman of ZIOC
commented:
"The Zanaga Project has now entered
into an exciting new phase. ZIOC's partnership with Arise provides
a pathway forward for the Zanaga Project, enabling the development
of essential port export facilities, both onshore and offshore,
with a highly-regarded port developer, financier and
operator."
Martin Knauth, CEO of ZIOC commented:
"Arise possess an excellent track
record in the successful development of bulk minerals ports in West
Africa and successful collaboration with private corporations such
as ZIOC and its subsidiary MPD Congo to ensure high quality project
execution. This partnership represents a major milestone for the
Zanaga Project and I look forward to working with the Arise team to
rapidly advance the Mineral Export Facility to a construction
decision, alongside the Zanaga Project's associated mine and
infrastructure facilities."
The Zanaga Iron Ore Company Limited
LEI number is 21380085XNXEX6NL6L23.
For further information, please
contact:
Zanaga Iron Ore
Corporate Development
and
Andrew Trahar
Investor Relations
Manager
+44 20 7399 1105
Panmure Liberum Limited
Nominated Adviser,
Financial
Scott Mathieson, John More
Adviser and Corporate Broker
+44
20 3100 2000
Shard Capital Partners LLP
Corporate Broker
Damon Heath
+44 207 186 9952
About Arise:
Arise is a highly regarded operator
and developer of industrial ecosystems, designing, creating,
financing and developing interconnected infrastructure, enabling
superior logistics solutions for its partners. The Arise portfolio
consists of 3 existing port assets in West Africa, as well as the
development of the Pointe Noire Special Economic Zone in the
Republic of Congo.
About ZIOC:
Zanaga Iron Ore Company Limited (AIM
ticker: ZIOC) is an iron ore exploration and development company,
with the Company's flagship asset being its 100% owned Zanaga Iron
Ore Project located in the Republic of Congo, for which the
Government Mining Licence, Environmental Permit and Mining
Convention are all in place.
In light of changes in the world's
economy and growing demand for low-carbon steel production, the
Zanaga Project is positioned to become one of the largest producers
of high grade premium pellet feed iron ore.