Zanaga Iron Ore Company Ltd Extension of Mining Exploration Licences (3922N)
September 28 2012 - 2:03AM
UK Regulatory
TIDMZIOC
RNS Number : 3922N
Zanaga Iron Ore Company Ltd
28 September 2012
28 September 2012
EXTENSION OF MINING EXPLORATION LICENCES AT THE ZANAGA
PROJECT
Zanaga Iron Ore Company Limited ("ZIOC" or the "Company")
(AIM:ZIOC) is pleased to announce the extension of the mining
exploration licences at the Zanaga Project for a further 2 years to
August 2014.
As a result of this extension, the deadline for submission to
the government of the Republic of Congo of an application for
mining exploitation licenses, supported by a feasibility study
("FS"), has been extended to May 2014.
Under the terms of the joint venture, Xstrata must use
reasonable efforts to ensure an FS on the Zanaga Project is
completed by no later than three months prior to the expiration of
the exploration licences in August 2014 or any subsequent renewal
and subject to there being no material adverse change.
For further information please contact:
Zanaga Iron Ore
Corporate Development and Andrew Trahar
Investor Relations Manager +44 20 7399 1105
Liberum Capital Limited
Nominated Adviser, Financial Chris Bowman, Christopher
Britton
Adviser and Joint Corporate Broker and Christopher Kololian
+44 20 3100 2000
Citigroup Global Markets Limited
Joint Corporate Broker Alex Carter
+44 20 7986 4000
Pelham Bell Pottinger
Financial PR James MacFarlane and Daniel Thöle
+44 20 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
END
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