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Zanaga Iron Ore losses narrow as Congo mine development advances

By BFN News | 08:10 AM | Friday 29 June, 2018


Zanaga Iron Ore Company said its annual losses narrowed as it continued to develop a flagship mine in the Republic of Congo. Pre-tax losses amounted to $1.4m, compared to $2.9m of red ink in 2016. 'Despite the continued challenge of securing funding for large scale developments, the Zanaga Project continues to progress and achieve significant major milestones,' chairman Clifford Elphick said. The project received an environmental permit last year and the company currently conducting test work to determine the viability of producing either a high-grade pellet feed concentrate, or an industry-acceptable pellet. At 8:10am: (LON:ZIOC) Zanaga Iron Ore Company share price was +0.28p at 12.5p Story provided by StockMarketWire.com

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