Zanaga Iron Ore Co Ltd (AIM:ZIOC) said it has completed its project value enhancement initiative for the Zanaga Iron Ore Project in the Republic of Congo.
The company said the completed workstreams point to “US$11,325 million of potential revenue upside” over the project’s initial 30-year life due to product grade improvements previously announced in June 2025.
It also flagged potential combined capital expenditure savings of US$352 million and combined cash cost savings of US$2,235 million over the same period, in its RNS statement.
"The outcomes of these value enhancement workstreams are significant for the Zanaga Project, as each has delivered meaningful improvements to the risk and engineering basis, environmental performance and Project economics," said chief executive Martin Knauth.
"Importantly, we are now in a strong position to advance through the FEED phase with the confidence that our development pathway is optimised for both value creation and sustainability, benefitting the Company and its stakeholders.
The company said it plans to release a combined, updated assessment of project economics in February 2026, alongside a project development strategy update.
Knauth, meanwhile, added: "Zanaga is uniquely positioned to supply premium DRI-grade pellet feed into a rapidly decarbonising steel sector, and these enhancements reinforce the Project's status as a world-class iron ore asset."