Corporate and Project Workstreams Update
Zanaga Iron Ore Company Limited provided an update on its corporate and project workstreams, announcing that value enhancement initiatives for the Zanaga Project have been completed on time and within budget, with results to be disclosed on January 6, 2026. A project development strategy update, including updated capital and operating cost estimates based on a DRI flow sheet and logistics solutions, is scheduled for February 2026. The company is also progressing with a strategic partner process, aiming to secure initial investor offers in Q1 2026 and target transaction terms announcement within the same quarter.
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Zanaga Iron Ore Company Limited (AIM: ZIOC) is pleased to provide an update on its objectives in relation to the Company's corporate activities and workstreams related to the Zanaga Project (the "Project").
Q1 2026 near-term objectives:
Project value enhancement workstreams (6 January 2026)
o Throughout 2025, and in addition to other project development activities, the Company has completed several workstreams aimed at improving the construction, operations, strategic optionality, and overall economics of the Zanaga Project
o The workstreams have been completed on time, and within budget, and are now progressing through final ZIOC Board level review and approval
o These results will be announced on Tuesday, 6 January 2026
Project development strategy update (February 2026)
o Process plant Front End Engineering & Design ("FEED") results, including updated capital and operating cost estimates based on a DRI flow sheet developed through 2025
o Fully integrated project development plan, including economics of all project enhancements assessed to date
o Update on logistics and infrastructure solutions required to support the development of the Zanaga Project
Strategic Partner process (Q1 2026)
o ZIOC is pleased with the progress being made in engaging a number of strategic investors interested in developing the Zanaga Project
o ZIOC intends on securing initial offers from investors during Q1 2026, and is targeting the announcement of transaction terms with a selected strategic investor during Q1 2026
Martin Knauth, CEO of ZIOC, commented:
"I am pleased with the significant progress we have made in advancing the Zanaga Project during 2025. We have completed our targeted project value enhancement workstreams on time and within budget, and look forward to announcing the results of these workstreams on the 6th of January 2026.
In addition, we will be providing investors with a comprehensive Project Strategy Update in February 2026, which will include an updated Project economic assessment incorporating FEED level design outcomes for the Project's recently announced DRI product and its associated process plant infrastructure.
I am also pleased with progress made with interested investment parties. As a result, we intend on securing initial offers from investors during Q1 2026, and are targeting the announcement of transaction terms with a selected strategic investor during Q1 2026."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.