Member Info for extrader

Présidence de la République du Congo - Officiel

@PR_Congo

5h

The President of the Republic, H.E. @SassouNGuesso_ , is expected in Pointe-Noire this Friday, February 6, 2026, for a working visit.

On the agenda:

Saturday, February 7.

- Liquefied natural gas: Launch of the loading of the first Nguya shipment from Eni ;

Monday, February 9

- Inauguration of the Ndjindji central market in Pointe-Noire ;

- Launch of the rehabilitation works on the Pointe-Noire - Cabinda road (Pointe-Noire - Djeno section).

This follows:

The President of the Republic, H.E. @SassouNGuesso_

, on this 5th of February, in Bambou Mingali, in the district of Ignié, Djoué-Léfini department, officially launched the Great Agricultural Fair of Congo."

I wonder what else he's planning to 'surprise and delight' the electorate with?

GLA / ATB

.."Roll on the 9th for facts vs fiction reveal..."

ZIOC's own presentation 'around Indaba' is on the 10th.

Are you thinking of the 'reveal' that G_G_G is expecting on the 9th?

See his post on t'other board.

ATB

Hi Driving,

Never mind!

You still have first dibs on that post-event get-together.

ATB

Hi G_G_G,

Nicely put!

As if on cue...

Présidence de la République du Congo - Officiel

@PR_Congo

4h

President @SassouNGuesso_ announces his candidacy for the March 2026 presidential election."

;->

GLA

Hi Catbert,

This was the article/bone of contention:

https://www.thisismoney.co.uk/money/markets/article-13563755/SMALL-CAP-IDEA-Zanaga-Iron-Ore-48m-company-multi-billion-pound-asset.html?ico=mol_desktop_moneymarkets-newtab&molReferrerUrl=https%3A%2F%2Fwww.dailymail.co.uk%2Fmoney%2Fmarkets%2Findex.html

and this the bit that caused the fuss:

.."Several companies are reportedly interested, ranging from those considering a consortium stake to others looking to acquire Zanaga entirely.

Although there is no formal deadline, a deal is expected within a few months, <b>according to an insider.</b>"

HTH

Zanaga Iron Ore Company

@Zanaga_Iron_Ore

8h

🚨 1 week to go 🚨

#ZIOC will host a briefing to investors on its strategic partner process and the project's development plans during

@MiningIndaba

. Places are limited, RSVP to secure your place.

Can't attend? A copy of the presentation will be made available on the website..."

Don't say we didn't tell you...

GLA

GLA

Meanwhile, ZIOC continues the hustle...latest tweet:

Zanaga Iron Ore Company

@Zanaga_Iron_Ore

·

8h

🚨 1 week to go 🚨

#ZIOC will host a briefing to investors on its strategic partner process and the project's development plans during

@MiningIndaba

. Places are limited, RSVP to secure your place.

Can't attend? A copy of the presentation will be made available on the website..."

Don't say we didn't tell you...

GLA

At some point, even Argentina will run out of road....

Argentina files a motion to dismiss in the U.S. District Court for the District of Columbia, seeking to block the recognition of the euro-denominated GDP warrants judgment.

The holders of a final, NON-APPEALABLE ruling issued by a London court are attempting to enforce the award in the U.S. due to non-payment. THIS IS A CASE THAT THE IMF HAS ALREADY SAID THAT ARGENTINA MUST RESOLVE, as no further legal avenues remain.

The claim exceeds USD 1.8bn...."

GLA

Better than an AI connection, it's in an (earlier) RNS..

Today 15:23

RNS Number : 5738R

Glencore PLC

03 February 2026

Glencore plc

Baar, Switzerland

3 February 2026

Proposed acquisition by US-backed Orion Critical Mineral Consortium of a strategic stake in Glencore's DRC assets....

GLA

FT

-US-backed fund agrees to buy stake in Glencore’s DR Congo mines

Orion CMC strikes multibillion-dollar deal to invest in commodity group’s copper and cobalt projects

.."Proposed acquisition by US-backed Orion Critical Mineral Consortium of a strategic stake in Glencore's DRC assets

Glencore and the Orion Critical Mineral Consortium ("Orion CMC") announce that they have entered into a non-binding Memorandum of Understanding in relation to a potential acquisition by Orion CMC of a 40% stake in Glencore's interests in its Democratic Republic of Congo ("DRC") assets, Mutanda Mining ("Mumi") and Kamoto Copper Company ("KCC"). The transaction is expected to imply a combined enterprise value for Mumi and KCC of around $9 billion..."

Orion Resources itself recently set up a 50:50 JV with ADQ, the AbuDhabi SWF, https://www.adq.ae/newsroom/adq-and-orion-resource-partners-to-establish-usd-1-2-billion-abu-dhabi-based-joint-venture-to-invest-in-and-secure-the-supply-of-strategic-metals-and-minerals/

30 Jan 2025

.."It will target investments in a range of metals and minerals in various geographies, initially focusing on emerging markets across Africa, Asia and Latin America...

Based out of Abu Dhabi Global Market (ADGM), OMF (ME) JV LP (“Orion Abu Dhabi”) will work towards investing in mining companies through multiple asset classes, including equity, senior debt and PRODUCTION-LINKED INSTRUMENTS, such as royalties, streams and OFFTAKES.

As part of its investment strategy, Orion Abu Dhabi will secure long-term agreements to source essential minerals, including copper, HIGH GRADE IRON ORE, and other key commodities important for global supply chain security and the energy transition...."

The MD Philip Clegg is at Indaba:

2026 Agenda Sessions

Weds 11 February

Gulf capital meets African mining potential

As Saudi Arabia, UAE, and Oman entering the global mining value chain, their capital is reshaping African deal flow. This panel will unpack what Gulf investors want, how they evaluate risk, and where African projects fit in their critical minerals’ strategies..."

What's the possibility that we'll learn the identity of our AbuDhabi-based and 20% 'allocated' marketing rights shelf-co - GIS- announced March 2025?

GLA

.."The company has stated the presentation will be made available on its website POST-EVENT...'

No, it hasn't.

What the RNS actually says is 'A copy of the presentation given at the event will be made available on the Company's website."

Timing unclear.

Deliberate? I wonder if lawyers charge a premium to draft intentionally ambiguous material, as opposed to the precise stuff.

This was all re-hashed on t'other board a while back.

GLA

.."The timing of the event is 3 pm South African time which is 1 pm UK..." and of course, 8 am EST in the States.

Where the markets open at 09:30, local time.

Which may also be relevant, given our recently-acquired US interested parties.

ATB

Thanks again, Catbert.

.."not only does the signing of the strategic re-frame the entire basis for valuation it is also likely to reveal not only the operator but quite likely builder and financier related plans too..."

One would hope so!

The EPC MoU was flagged for delivery in Q2 2025 (p 20 of Mar 2025 presentation), which should have revealed the builder and any related financier. This didn't happen/hasn't happened, for reasons we can only speculate.

Perhaps - to keep options open and try and engender competition - it was decided not to disclose?

In any event, it seems only a matter of time. These people are the likely candidate- PSEI, sometimes confusingly referred to as PACE, including by themselves, see http://www.psei.com.cn/news/230.html

"The investment promotion meeting for the development of the Buzanaga iron ore project in Congo was successfully held in Pace

Time of issue:2025-01-21 11:39:59 Popularity:1049

On May 23, 2024, the ZANAGA Iron Ore Project Development and Promotion Conference was held at COSCO Happiness Building in Beijing.

The Zañaga iron ore project has a resource reserve of 6.8 billion tons, a designed annual output of 30 million tons of iron concentrate, and a total investment of 2 billion US dollars. The project includes mining, beneficiation, 360 km pipeline engineering, port construction and industrial auxiliary engineering. As the general lead design institute, Pace Company HAS COMPLETED THE PROJECT BANK-LEVEL FEASIBILITY STUDY [Ed.: this must be the document that ZIOC refers to as its 2024 Feasibility study].

The investment promotion conference attracted more than ten large CENTRAL ENTERPRISES [Ed.: is State-owned Enterprises] and listed companies in China to participate, and all parties are very active and attached great importance to project investment and financing. The project was introduced by Mr. Marty, CEO of Zanaga Iron Mine, and Mr. Che Yueguang, President of Pace, answered questions about the project as the chief design lead company..."

PSEI Kunming shows up in a reverse -image search of photos in ZIOC's presentations; PSEI has a tie-in (unclear exactly what) with Ausenco, the slurry pipeline specialist (used by Anglo in its Mina Gerais project in Brazil https://ausenco.com/projects/minas-rio-iron-concentrate-pipeline-system/).

The ZIOC feasibility study is also mentioned on this website https://psei.co/services-copy-3/

.."Zanaga Iron Ore Project , Congo SA – Study and Definitive Feasibility Study for MDP.."

where the co says:

PSEI is a full-service engineering company. We cover multi-disciplinary engineering, design, and implementation of state-of-the-art technology in mining, beneficiation and process plant, long distance slurry/water pipeline transportation, dry stack and thickened/paste tailings disposal."

All grist to 'our' mill', it would seem.

GLA and ATB

Thanks for your insights, Catbert!

.."So whilst Vale and Rio appear to be the most natural fits it is not possible to rule out Ivanhoe...."

If a week is a long time in politics, maybe a decade is a long time in mining, I was under the impression that (then) Rio management basically muscled Friedland/Ivanhoe out of what had been 'their' baby at Oyu Tolgoi in Mongolia.

But expedience makes strange bedfellows, so who knows?!

Perhaps Rio/Ivanhoe/BaoWu + a Gulfie would be a 'geo-politically neutral' combo.

GLA

Good find!

It likely doesn't hurt that Mitsui is already in bed with Rio elsewhere.

The only quibble - from a business perspective - is that there'll be a trade-off between the price paid for feedstock and the savings in emissions/energy costs.

If BSL's technology helps Pilbara continue to make overall economic sense, the premium for high-grade will tend to be lower.

That's my understanding, anyway.

Pls run past AI, I'd be interested in its take.

Cheers!

The AFR take hints at some murkiness in the original concession award (Gupta connection) and shares the other journalist's scepticism re Twiggy's occasional failure to deliver.

https://www.afr.com/companies/mining/fortescue-aims-for-2030-debut-in-african-iron-ore-20251222

Fortescue took control of Belinga in 2021 when it struck a deal with former Gabon president Ali Bongo. In a February 2023 call with investors, Forrest said that his company was approached by the Gabonese government to develop the project.

“The Gabonese government didn’t put us up to tender, didn’t ask us to compete. They simply did what some great governments do and

do their own research, their own global investigation, and then they invite the company they think is the best to develop their iron ore industry,” he told investors.

“I have a PhD in ecology, which the president of Gabon was attracted to, and his first words were, ‘I really expect you to build but protect my country’. And I said, ‘I will do both, sir.’

“We’re deeply honoured that the Gabonese government invited Fortescue to develop the Belinga project.”

A feasibility study for the Belinga project is scheduled to be published in December 2026, and while no investment decision has been taken, Forrest said he wants Belinga ore to be on a ship by 2030.

...Belinga is a large, high-grade iron ore deposit in the remote north-east of Gabon. It was discovered in the 1950s but has never been developed at scale because it is about 550 kilometres from the coast, and there is no nearby railway to carry ore to port.

Fortescue had previously shipped a trial cargo of Belinga ore from Owendo port in 2023.

Forrest said that a “fully integrated” network of railways and clean energy would carry ore from the Belinga mine to a port at Kobe-Kobe on the Gabonese coast. “Belinga will create the first green iron ore supply in Africa to feed green iron ore steel mills of Europe.”

The 2030 target for Belinga continues Fortescue’s tradition of setting very ambitious goals, some of which are missed [Ed.: ouch!]

Fortescue last year axed its goal of shipping 15 million tonnes of green hydrogen per year by 2030. This year, it backpedalled on a 2017 promise to raise the average iron content of the ore it produces in Western Australia.

Fortescue continues to insist it will reduce emissions to “real” zero by 2030 without using carbon offsets."

GLA

.." Will this example stiffen Gabon resolve re Belinga / FMG ?..

Some kind person has drawn my attention to recent developments on that front.

Recall that Ivindo (FMG + Gupta vehicle ATIF) had 'slow-tracked' its Belinga mine development after the post-coup Gabonese govt argued that it should pony up some 'nation-building finance' by bankrolling a new cross-country railway (NE >SW) , ending at a new port complex near C-B border, at Mayumba.

There appears to have been a 'compromise' breakthrough, with Twiggy Forrest countering with another new proposed port, this one much closer to Belinga and between Libreville and Owendo.

See https://www.billionaires.africa/2025/12/24/australian-billionaire-andrew-forrests-fortescue-targets-2030-start-for-african-iron-ore-exports-as-gabon-orders-mining-contract-audit/

The article is (rightly) somewhat sceptical about the detail and the ambitious 2030 timeline; it's uncritical about the job creation claims (160,000, really?); and it acknowledges the continuing implied threat of Gabon's ongoing 'review for compliance' of all mining licences.

So, Belinga isn't out of the woods, yet. But FMG's creative search for a workable 'off-ramp' highlights its awareness that it, like all Australian miners, has a 'Pilbara rust' problem that isn't going away.

Gabon's coup leader, Brice Nguema, now has a (cough) democratic 90% mandate and is also working to get back in the good graces of the IMF.

I wonder whether he and Big Den - on the sidelines of the recent CEMAC meeting- compared notes on 'other matters of mutual interest'?

GLA

PS

This development si clearly 'hot off the press' , consider this FT headline from barely a week ago:

Financial Times

Ivanhoe Atlantic eyes US IPO after winning rail approval

Jan 22, 2026 · Ivanhoe Atlantic is mulling a US listing later this year after receiving approvals for rail access for its huge Kon Kweni iron ore deposit in Guinea — an about-face from its previous plans to ...

.."The company had been planning to list in Australia, where it hired bankers early last year to explore an IPO. The switch underscores how shifting American policies are drawing mining companies to US capital markets.

“We are not in a hurry to go public; we want to do it well,” Pham told the FT. He added that the burst of mining support from the Trump administration has “affected our calculus” in selecting the IPO location.

As the US government has increased its focus on critical minerals, Ivanhoe Atlantic has positioned its mine and rail project as a Trump-endorsed alternative to the massive Chinese-led mining projects nearby...."

GLA

Https://www.msn.com/en-za/news/other/ivanhoe-atlantic-ceo-resigns-as-us-backed-iron-ore-project-hits-roadblocks-in-liberia-and-guinea

.."Bronwyn Barnes, CEO of Ivanhoe Atlantic, has resigned amid challenges faced by the company regarding rail access and regulatory approval.

・In Guinea, the company's project encounters delays due to proximity to Mount Nimba Strict Nature Reserve and governmental preference for internal infrastructure developments.

・Ivanhoe Atlantic's development plans for iron ore extraction in Liberia and Guinea are hindered by access issues to the Yekepa–Buchanan rail corridor controlled by ArcelorMittal.

・China's dominance in Guinea's mining sector through state-linked enterprises and rail project participation limits alternative export opportunities for foreign investor..."

So, Guinea want its ore to be exported from Guinea, via Simandou railway (there's little spare capacity); the US strong-armed Liberia into breaking Arcelor Mittal's hitherto access to the rail way to Buchanan, now seemingly a non-starter because of Guinea intransigence. Will this example stiffen Gabon resolve re Belinga / FMG ?

Meanwhile , note that Ivanhoe seems to have parlayed iron ore unofficially onto Trump's 'strategic minerals' list....for now, at least.

.."Economic and strategic stakes

Barnes’ resignation highlights the operational, regulatory, and geopolitical challenges facing foreign mining companies in West Africa, particularly in projects involving complex infrastructure and oversight from multiple governments.

At the same time, U.S. diplomatic engagement has become increasingly visible, with Washington reportedly exploring frameworks to ENCOURAGE (sic) Guinea’s leadership to reconsider its position.

Such efforts could involve political or security cooperation, reflecting broader U.S. priorities under President Donald Trump’s renewed focus on securing access to critical minerals and reducing reliance on Chinese-controlled supply chains....."

With existing constraints at the Morebaya port bottleneck, the last thing Rio will want is to see any further 'logistics-sharing' to accommodate Ivanhoe; presumably, the Chinese would feel the same way.

Has the 'scarcity premium' for ZIOC's logistically less challenging asset just gone up?

What will Friedland say at Indaba?

Answers on a postcard...

GLA

From Semafor Gulf

.."there's the the idea that an unfair risk premium is placed on those trying to raise capital for projects in Africa.

[Both (1) and (2) are shareholders in ARISE, alongside Gupta family and the new Saudi shareholder,VisionInvest - Al Muhaidib / AbuNayyann family offices]

The tension is at the heart of the row between (1) Afreximbank and Fitch, which this week saw the continent’s trade bank end its relationship with the ratings agency [following a DOWNGRADE].

It’s also why it was particularly striking that ratings agency S&P this week assigned an A credit rating, with a positive outlook, to (2) the Africa Finance Corporation, which provides financial backing to infrastructure projects across the continent...."

The S & P write-up https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3509032?utm_source=semafor

includes:

.."AFC's investment pipeline is anchored by projects that close critical infrastructure gaps while supporting national development priorities. AFC specializes in sectors such as power, transport and logistics, natural resources (including mining, oil, and gas), heavy industry, telecommunications, and technology. Examples of key projects include the Lobito Corridor Project linking Angola, Zambia, and the Democratic Republic of Congo (DRC), as well as the Kamoa Copper Mine project in DRC.."

GLA