Member Info for allthatguff

Sitting very tight, everything crossed. Waiting for Glencore sale of asset.

Facts are facts :)

I have corrected this lingering misconception before .."The significant investment by Glencore ".

'Significant', no. The bulk of expenditure was by Xstrata originally. What has been spent by Glencore is peanuts relative to their general operations. This is probably where Zioc's woes started. Glencore inherited a project it had no demonstrable interest in, other than 'option value' as quoted by Glasenberg.

http://www.adiac-congo.com/content/mines-solides-deux-societes-sunissent-pour-exploiter-le-fer-souanke-104018

"Solid mines: two companies unite to exploit iron in Souanké
Thursday, August 8, 2019 - 19:39

Avima Fer and PW Mining signed a memorandum of understanding on August 8 in Brazzaville to jointly operate the iron at Avima Mountain, a rich iron deposit located in the Souanké district of Sangha Department. on the border of Cameroon and Gabon.

The agreement was initialed by Mr Socrates, promoter of the Avima project and Leonard PW Mill, boss of PW Mining, in the presence of the Minister of Mines and Geology, Pierre Oba. The exploitation period has not been defined but it has been indicated that the production capacity is estimated at twenty-five million tons per year. The iron to extract, said the mining experts, is of superior quality, 80% clean and does not require cleaning before being shipped.

" This agreement allows these two companies to develop and exploit the iron ore deposit at Mount Avima. It is an open pit mine located in the forest of Souanké. It is a rich ore, which does not need a prior treatment, and which can be loaded directly into a boat, in the direction of the areas of consumption, among which, Europe and China ", said the director of mines and geology, Louis-Marie Djama.

In relation to the distance of the site with the port of Pointe-Noire, the minerals to be exploited will be evacuated via the port of Kribi, a Cameroonian ore port, located about three hundred kilometers from Souanké.

" Given the difficulties of transport to the port of Pointe-Noire, given that it is huge volumes of tons of iron, we will pass through the ore port of Kribi, located south of Douala in Cameroon, "said the promoter of the Avima Iron project, Mr Socrates.

Speaking from time to time, the Minister of Mines and Geology welcomed the successful completion of this project since 2003. Pierre Oba emphasized that its implementation is part of economic diversification."

..all has gone deathly quiet. The calm before the storm of good news, or further delays, ie now "shovels in the ground" early 2020 yada yada..? Time is no object, evidently. Iron ore rises and craters back while the sun keeps rising and setting. The seasons pass rapidly.

Our saintly patience is being tested severely!

Unlikely...we can only hope they will sell their majority share of Zanaga ASAP.

https://m.miningweekly.com/article/chinese-demand-for-green-metals-increasing-exceptionally-fast-glencore-2019-08-07/rep_id:3861

Chinese demand for ‘green’ metals increasing 'exceptionally fast' – Glencore
7th August 2019 BY: MARTIN CREAMER

"

Yes, we also remember the confidence in ex-flagship BB..

Fact..initial share dilution 3m ....PLUS... loan dilution shares to come drip drip..

"Tellurian's dealing in UKOG consideration shares is to be subject to a 6-month orderly market provision." Ha ha

Or another serial Glencore disappointment? Wet firework / drenched cephalopod?

Slight anticipation only for any iron spectacular-spectacular.

Sorry, errata dates. Ignore

If the Glencore Reuters leak is true...suspense!

A suspiciously exact theory. Strange this backdoor whispering that has been going on for years?

Well, under my definition, it's a fail :)

The irrationality in strategic approach has cost Glencore dearly. To be a 'major' means mining all major commodities? Surely...

https://www.bloomberg.com/news/articles/2019-07-31/glencore-flags-cobalt-trading-losses-after-prices-tumble

Glencore’s Troubles Pile Up While Rivals Get Rich on Iron Ore
By Thomas Biesheuvel
31 July 2019, 07:25 BST
Updated on 31 July 2019, 11:30 BST

"This year, it’s been forced to watch from the sidelines a breathtaking rally in iron ore, a metal Glencore doesn’t produce at all, while rivals like BHP Group and Rio Tinto Group cash in."

+++++ So sell it or develop it, Glencore! ++++

It's time to sell up Glencore, bring on the news!!

There is also an interesting video on the Trafigura website that shows what the future could hold for Zanaga port wise. ..
"Introducing Porto Sudeste, an exceptional gateway for Brazil’s iron ore exports"

This shows a private iron ore export port with 40mtpa iron ore capacity. Joint venture Impala (Trafigura owned) and an Abu Dhabi partner.

On page..
https://www.trafigura.com/products-and-services/metals-and-minerals/iron-ore/

What Trafigura does...

"As one of the world’s largest metals and minerals traders, Trafigura is building global connectivity between miners, smelters and refined metal fabricators.
We offer financial assistance through offtake agreements, structured finance and tolling models and develop downstream outlets that underpin volume growth."

"Trafigura Mining Group manages mining operations, develops projects, conducts technical audits of existing and potential investment projects; and provides advisory and support services to Trafigura’s trading desks, trading counterparties and Galena Asset Management."

"Impala Terminals, the independently managed multimodal logistics arm of the Trafigura Group, focuses on export-driven emerging markets. It owns and operates ports, terminals, warehouses and transport assets which offer end-to-end logistics solutions for dry and liquid bulk cargoes, general cargo, and containers, both for Trafigura and third-party clients."

+++ Obviously a direct competitor to Glencore...would they partner together (ie Zioc sell up to Trafigura)? Or would Glencore sell to Trafigura??

This may all be nothing based on that one line "related to commodities" but you never know :)
Worth a think. +++

The Trafigura website also has..
"Iron Ore
16.9mmt traded in 2018
We trade the whole spectrum of iron ore products and grades. With origination teams in all the main exporting countries, we use our extensive international network to connect specific buyers with particular grades of stock. We source cost competitive supplies through our close relationships with the major producers and provide support for smaller mining concerns. Our sales teams in China have strong contacts with steel mills and local trading houses."

+++ So they could hugely beef up their their high grade iron ore capacity with Zanaga +++

http://www.adiac-congo.com/content/hydrocarbures-la-societe-trafigura-veut-developper-la-cooperation-avec-le-congo-103528

"Hydrocarbons: Trafigura wants to develop cooperation with Congo
Monday 29 July 2019 - 19:59

The President of the Republic, Denis Sassou N'Guesso, met on July 29 in Brazzaville, with a delegation of the company Trafigura led by its president Jeremy Weir.

Based in Switzerland, Trafigura has expressed its willingness to strengthen cooperation with Congo in the field of hydrocarbons.

The company's CFO, Christophe Salmon, said Trafigura "intends to finance certain activities of the National Petroleum Company of Congo, which will soon be rescheduled in the years to come".

This company specialized in oil trading also plans to "pursue a course of business related to commodities." '

+++++

Reread the last sentence.....what di6es that mean??? Not oil?? Potash?? Iron ore????