Steel News

We strive to let you one step ahead of the market.

Genmin shows positive pre-feasibility study for Baniaka iron ore project

18 Nov 2022 16:03 reported by Ivy Wei

A A A
Genmin, an African explorer and developer, showed a positive pre-feasibility study (PFS) for its 100% owned Baniaka iron ore project in Gabon.

The final investment decision for the project was expected in the second quarter of 2023. Genmin planned to have its first production in mid-2024.

The company targeted to maintain a strong focus on environmental, social, and governance with clean, renewable hydroelectricity, no tailings dam and up to 0.5% of gross revenue spent on community development.

The PFS estimated that the initial capital investment would be around US$200 million for a 5Mt-per-annum nameplate capacity and associated infrastructure. In addition, the study also showed the nameplate capacity of the operation has the potential to rise to 10Mtpa from 5Mtpa.

Back to Steel News

Related News

BHP Group to develop electric smelting furnace pilot plant to reduce CO2 emissions

  • Industry activities
  • 23 Mar 2023 17:03

Tata Steel may shut UK's Port Talbot blast furnace

  • Industry activities
  • 23 Mar 2023 16:33

US’ CMC decides to acquire Tendon to strengthen position in construction sector

  • Industry activities
  • 22 Mar 2023 17:00

EU’s steel production & consumption expected to decrease in 2023, rebound in 2024

  • Industry activities
  • 22 Mar 2023 16:49

JSPL gets BIS certification for fire-resistant steel structure manufacturing

  • Industry activities
  • 22 Mar 2023 16:28

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,892.00
  • 2,865.00
  • Aluminum
  • 2,264.00
  • 2,312.50
  • Copper
  • 8,915.00
  • 8,916.00
  • Nickel
  • 21,850.00
  • 22,050.00

Learn more

Coil Exchange Center

  • 2B Coil-Apr
  • 3,060
  • 2,920
  • NO1 Coil-Apr
  • 3,030
  • 2,890
  • 2B Coil-Apr
  • 3,060
  • 2,920
  • NO1 Coil-Apr
  • 3,030
  • 2,890

Learn more