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Congo Democratic Republic of,United Kingdom : ZANAGA declares Pretax Loss increase on Expenditures

June 27, 2014

Zanaga Iron Ore Co Ltd., recently declared about the pretax loss widened in 2013, cause of the administrative expenses and losses from its investment in the Zanaga Iron Ore project in the Republic of Congo.

In 2012, for the firm, Glencore PLC became a collaborator at its Zanaga Iron Ore project in the Republic of Congo.

For the Zanaga project, which confirmed the site as potential major iron ore development, in April 2014, the company closed the feasibility examination and indicated that development process at the site would be better than a single-stage growth.

At present, the firm is progressing the project with its next stage of development, having given both the Mining Licence and Environmental Permit for stage one development at the site.

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Source: TendersInfo (India)

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