- Mining group Zanaga Iron Ore said the first planned stage of the Zangana project in the Republic of Congo was now estimated to cost between $2.15 billion and $2.28 billion.

The capital expenditure range was similar to one outlined in a 2014 feasibility study, being between negative 2.9% and positive 2.5% of that estimate.

'The review of these figures indicates that the capital and operating costs estimated in 2014 remain valid in today's market environment,' chairman Clifford Elphick said.

He added that they encouraged the company to continue to pursue pathways available for development of a 30 million tons per annum staged development project.

At 8:57am: [LON:ZIOC] Zanaga Iron Ore Company share price was 0p at 5.76p

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