StockMarketWire.com - Mining group Zanaga Iron Ore posted a first-half loss as it continued to develop its namesake project in the Republic of Congo.

Pre-tax losses for the six months through June amounted to $0.73 million, compared to year-on-year losses of $0.78 million.

For an early production project, multiple scenarios remained under investigation on processing facilities and suitable logistics solutions, the company said.

It added that increased engagement was underway with other mining project developers to explore potential collaboration opportunities.

These related especially to logistics solutions and alternatives for upgrades to existing infrastructure.

'Approaches continue to be received from a number of strategic investors interested in investing in the Zanaga project,' the company said.

'Discussions remain at a very early stage and there is no certainty that these discussions will proceed or a transaction will ultimately be entered into.'


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