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Zanaga Iron Ore Reviews Alternative Funding Options for Congo Project

MT Newswires·11/10/2026 05:43:09
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05:43 AM EST, 11/10/2026 (MT Newswires) -- Zanaga Iron Ore Co. (ZIOC.L) plans to engage a financial adviser to review funding options for its Zanaga iron ore project in the Republic of Congo after determining that Red Arc Minerals will not be able to conclude its investment by Nov. 30. The iron ore developer said Tuesday that its discussions with Red Arc Minerals are ongoing, with several matters still requiring agreement. Zanaga noted that Red Arc Minerals has provided evidence of progress towards securing financing of up to $500 million. The financial adviser would conduct a strategic review of all available options, including the Red Arc Minerals deal.