Australia-listed Genmin applies for 15-year permit to start iron-ore drilling in Gabon

The Australian iron-ore mining company Genmin has submitted to the Gabonese government a request for 15-year permit to commence iron ore drilling project at Baniaka field in the central African country.

Joe Ariti, the Chief Executive Officer of the company met with the minister of Mining of the African country to discuss the application that follows positive results of the pre-feasibility studies released in November 2022.

According to Joe Ariti, production will to reach up to 5 million tons in the early stages is expected to then increase every five years by 5 million tons.

Baniaka Iron Ore Project is located in south-east Gabon and comprises the Baniaka and Baniaka West exploration permits, which cover a total area of 881km.

The Australian company is also planning to produce a mix of lump, fines, and pellet feed, and has signed three non-binding memoranda of understanding with Chinese firms for up to 16-million tons a year of potential offtake. Genmin, aside from Baniaka, is owner of iron ore Bakoumba Project and Bitam project located in the north of the African country.