"The US-Canadian financier bought the vast iron project four years ago, but Guinea's ruling junta is showing little interest in developing it, and UNESCO has yet to give its essential green light."
RE: Baowu at Pointe Noire, Sept 202127 Feb 2024 13:11
A refresher... RNS 11Dec 2019..
"Priority initiative is to assess the option for development of approximately 2Mtpa of iron ore production at the Zanaga Project which will be delivered to the Pointe Noire SEZ in the Republic of Congo in order to support the proposed development of a steel production facility"
... Then COIDIC withdrew from SEZ development and handed over to BAOWO..
Google translate ..…In short, Cad fund confirms COIDIC withdrawal from the Pointe Noire economic zone project and introduces China Baowu as a new potential developer and investor…
"Iron Ore miners try different multi-billion strategies to lower emissions for Steel producers"
"2024 should see a further acceleration in steel’s transition away from coal, with increasing pressure on companies in the value chain to act on their Scope 3 (indirect) emissions, explains Simon Nicholas at IEEFA. Old coal-fired blast furnaces that use low-grade iron ore are already being replaced with the direct reduced iron (DRI) process in Europe and China. That means the “big four” iron ore miners have to ramp up production of high-grade iron to supply them."
RE: Interesting (possible) twist...21 Feb 2024 05:51
No need to fret, each mining project is unique with its own circumstances. Zanaga has been studied, recosted and planned to death in all its myriad of options over the years. That is as much as you can ever do to mitigate risk. Zioc has a big carrot for success!
RE: Interesting (possible) twist...20 Feb 2024 15:54
Also remember, Zioc is currently aiming for MOU's, just got to be enough framework developed to sign these and enough financial clarity for investor to come in for a slice..could happen any day now .
"Race to Green Steel: New campaign urges carmakers to switch to low carbon steel"
"A number of carmakers including Mercede-Benz and Volvo have already signed early offtake agreements for low carbon steel produced at green steel plants being developed in Sweden by the likes of SSAB and H2 Green Steel."