Zanaga Iron Ore Company (LSE:ZIOC) has launched a bulk sampling programme at its Zanaga Iron Ore Project in the Republic of Congo, a key step toward a final investment decision.
The AIM-listed company is extracting approximately 30,000 tonnes of ore to produce a 100-tonne composite sample of the hematite zone targeted for Stage 1's 12 million tonnes per annum operations.
Equipment and personnel mobilisation began in July, funded by proceeds from the company's May equity raise, and marks the first major site activity at Zanaga since 2014.
The sample will undergo pilot-scale metallurgical testing to validate the project's revised direct reduced iron (DRI) processing flowsheet, and to generate concentrate volumes for characterisation and testing with steel mill customers, independent laboratories and offtakers.
Excavation is proceeding under environmental and mining permits secured after consultation with RoC ministries, the Prefecture, project communities and traditional custodians.
The work is expected to define primary and secondary process equipment, updated mass, energy and water balances, and the cost basis for the ongoing front-end engineering and design (FEED) programme.
"I've been highly encouraged by the progress our project team is making with the bulk sampling programme, which remains on schedule", said chief executive Martin Knauth.
He added that he looks forward to updating stakeholders as the programme progresses.
News Intelligence what this means for the company
Zanaga has mobilised equipment and begun extracting ore for bulk sampling—the first major site work since 2014—to validate its revised DRI flowsheet and generate concentrate for customer testing ahead of a final investment decision targeted for mid-2027. The programme, funded by a May equity raise, is a concrete step toward the FID gate; the 30,000-tonne extraction and 100-tonne composite sample will feed pilot-scale metallurgical testing and refine equipment design and cost estimates for the ongoing FEED work.
Bulk sampling is a de-risking milestone that moves Zanaga from study phase into physical validation of its process flowsheet and cost assumptions. Success here—demonstrating metallurgical performance and generating offtake-ready concentrate—is a prerequisite for the mid-2027 FID and the $2.17bn Stage One capex decision.
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