Sept 30 (Reuters) - Zanaga Iron Ore Company Ltd <ZIOC.L>::EXTENSION OF SHARD FACILITY TRANCHE 1.
Dec 11 (Reuters) - Zanaga Iron Ore Company Ltd <ZIOC.L>::ZANAGA IRON ORE - FRAMEWORK AGREEMENT WITH COIDIC.ZANAGA IRON ORE COMPANY LTD - ENTERED DEAL BETWEEN CHINA OVERSEAS INFRASTRUCTURE DEVELOPMENT AND INVESTMENT AND JUMELLES LIMITED.ZANAGA IRON ORE - DEAL FOR POTENTIAL COOPERATION IN RESPECT OF MINING RELATED INFRASTRUCTURE FOR ZANAGA IRON ORE PROJECT.ZANAGA IRON ORE - PARTIES INTEND TO DEVELOP JOINT INITIATIVE TO INTRODUCE FUNDING PARTNERS FOR PROJECT FOR SECURING DEBT AND EQUITY FINANCING.
Zanaga Iron Ore Co Ltd:Do not intend to declare or pay a dividend.
Zanaga Iron Ore Co Ltd announced that no dividends have been paid or declared in the current year (2010: nil).
Data monitor's Financial Deals Tracker reported that Xstrata plc, has acquired a 50% plus one share interest in Jumelles Limited, a subsidiary of UK based Zanaga Iron Ore Co Ltd. Xstrata has entered into an agreement to acquire a 50% plus one share interest in Jumelles in return for a commitment to fund a Feasibility Study to a minimum of $100 million. Upon exercise, Xstrata will commence work on the feasibility study, the first part of which will be a value engineering exercise, building on the pre-feasibility work undertaken by Jumelles. Following the exercise of the call option, Xstrata will control Zanaga Iron Ore Co Ltd's sole mineral asset, the Zanaga Project, and Zanaga Iron Ore Co Ltd will have a strategic partnership in respect of the Zanaga Project with Xstrata, a major mining Company. Under the agreement with Jumelles, Xstrata could elect to acquire 100% of the Project following completion of the feasibility study. Fresh fields Bruckhaus Deringer LLP is acting as legal advisor, Liberum Capital Limited is acting as financial advisor and Pelham Bell Pottinger is acting as PR advisor to Xstrata.
Xstrata plc and Zanaga Iron Ore Company Limited (ZIOC), announced that Xstrata has elected to exercise its call option over Jumelles Limited. Jumelles is a subsidiary of ZIOC. As provided for in the call option agreement entered into by Jumelles and Xstrata, Xstrata will acquire a 50% plus one share interest in Jumelles in return for a commitment to fund a Feasibility Study to a minimum of $100 million. Following the exercise of the Call Option, Xstrata will control ZIOC's sole mineral asset, the Zanaga Project, and ZIOC will have a strategic partnership in respect of the Zanaga Project with Xstrata, a major mining Company. Following the exercise of the Call Option, which is expected to complete on February 11, 2011, the principal business of ZIOC will comprise managing its 50% less one share interest in the Zanaga Project, which will be controlled by Xstrata at both a shareholder and director level, and monitoring both the finalisation of the pre feasibility study (PFS) and the preparation of the Feasibility Study. Under the agreement with Jumelles, Xstrata could elect to acquire 100% of the Project following completion of the Feasibility Study. An Indicated and Inferred Mineral Resource of approximately 3.3 billion tonnes, with an average grade of 32.8% Fe, has previously been reported by ZIOC in accordance with the JORC Code1. The Zanaga Project is located in the Lékoumou District of the Republic of Congo, approximately 300 km north east of Pointe Noire.