CAPITAL MARKETS

Glencore slows Zanaga

IN KEEPING with Glencore Xstrata’s reluctance to develop greenfields projects, the company has announced a reduced spend and staged development for the Zanaga iron ore project in the Republic of Congo.

Kristie Batten
Glencore slows Zanaga

In October 2009, Xstrata paid AIM-listed Zanaga Iron Ore $US50 million ($A53.5 million) for an option over the project, which was used to fund the first phase of the prefeasibility study. The following...

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