Zanaga Iron Ore Company Limited Share Price (ZIOC.GB.PL)

Found it. The 'blending of ore' bit is here

https://fortescue.com/news-and-media/news/2023/02/08/mining-convention-signed-for-the-belinga-iron-ore-project

“Geological mapping and sampling programs have confirmed our initial thoughts that this new West African iron ore hub may well one day prove to be among the largest in the world.

“The key aspect of this particular geology is its potential to dovetail with Fortescue Pilbara ore blends. In doing so it will preserve and enhance the iron ore industry of both Australia and Gabon....

"This emerging iron region is potentially massive. If it fulfils its promise, it will complement our Australian operations through enhancing our blended products, extending our mine lives and opening new global markets..."

ATB

Bloomberg also make the link between this bid & a wave of M&A activity:

"BHP Bid for Anglo American Set to Unleash Wave of Mining M&A"

https://www.bloomberg.com/news/newsletters/2024-04-25/bhp-bid-for-anglo-american-set-to-unleash-wave-of-mining-m-a

Could be!

'Twiggy' has already physically shown his interest in W Africa, albeit next door.

https://fortescue.com/news-and-media/news/2023/12/04/fortescue-ships-first-product-from-belinga-iron-ore-project-in-gabon

Small-scale atm, you might almost cal it something like, I don't know, an Early Production Project ('EPP') ;->

Belinga is FMG 72% and African Transformation and Industrialisation Fund Limited (18%).

ATIF has Arise under its umbrella https://www.ariseiip.com/about-arise/ (part-owned by the Africa Finance Corp) and has a niche in SEZ's in various African countries, incl C-B.

There's also the conservation/forestry angle, to get Big Den on-side; an on-going interest, as you say, in 'big projects' eg Grand Inga; and - last but not least - FMG has the same ore quality issues facing the other Aussie miners....and IIRC is on record as saying that 'blending' Pilbara with higher content/lower impurity stuff from elsewhere might postpone the inevitable...

Two more 'last but not leasts' : (1) he's got the money (2) I remember AT mentioning FMG favourably in a throwaway aside at one point.

The permutations seem to be increasing, not narrowing...!

GLA and ATB

BHP would keep the Brazilian iron ore, which would be good insurance if its Vale JV falls apart, which given the legal situ is quite possible: https://www.reuters.com/markets/commodities/bhp-vale-london-court-confrontation-over-brazil-dam-damages-2023-07-12/

RTZ has its hands full with Simandou as far as iron ore investment is concerned.

Which leaves FMG among the majors as potentially interested in Zanaga. The last minute play they made for Simandou - without the crazy railway which of course was a necessary condition for success - indicates ongoing interest in large scale African projects. Time they made a last minute play, especially given the Zanaga financials will be so compelling vs Simandou with the crazy railway?

Good to see there is M&A activity in the mining sector. Could lead to a rush of activity in the sector.