Last checked at 7 Aug 2018 07:00
7 August 2018
POSITIVE PELLET TEST RESULTS
Zanaga Iron Ore Company ("ZIOC" or the "Company") (AIM:ZIOC) is pleased to announce positive pellet test results from recent test work.
On 30 June 2018 ZIOC announced the significant progress made in the Zanaga Iron Ore Project's pelletisation test work programme aimed at producing an industry acceptable iron ore pellet product using a lower cost cold pelletisation process. The results showed that the most recent batches of Zanaga cold pellets had met all industry standard tests as determined by independent third party laboratories.
Test work was then commissioned with the intention of ascertaining commercial acceptability in the steel production process. Two further 20kg samples of Zanaga cold pellets were sent to a European steel mill as well as an accredited European laboratory servicing the steel industry.
ZIOC is pleased to confirm that the tests conducted by these independent laboratories have returned positive results within the industry acceptable limits for conventional pellets.
These tests were undertaken by Jumelles, the joint venture between the Company and Glencore, as part of the overall initiative to establish the viability of an Early Production Project (EPP) as described in the Company's Annual Report of 30 June 2018. As part of the ongoing work-streams, discussions are taking place with steel mills globally to consider further steps and tests that need to be taken in order to assess potential demand and pricing for Zanaga pellets and pellet feed concentrate.
Clifford Elphick, Non-Executive Chairman of ZIOC, commented:
"The positive results from recent pellet tests with a leading steel mill and an accredited independent European laboratory, servicing the steel industry, are encouraging indicators of the potential for Zanaga to produce a commercially accepted pellet product with high iron content and low impurities"
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The Zanaga Iron Ore Company Limited LEI number is 21380085XNXEX6NL6L23.
For further information, please contact:
Zanaga Iron Ore
Corporate Development and Andrew Trahar
Investor Relations Manager +44 20 7399 1105
Liberum Capital Limited
Nominated Adviser, Financial Neil Elliot
Adviser and Corporate Broker and Richard Crawley
+44 20 3100 2000
About us:
Zanaga Iron Ore Company Limited (AIM ticker: ZIOC) is the owner of 50% less one share in the Zanaga Iron Ore Project based in the Republic of Congo (Congo Brazzaville) through its investment in associate. The Zanaga Iron Ore Project is one of the largest iron ore deposits in Africa and has the potential to become a world-class iron ore producer.