ASX listed Genmin is an emerging producer of higher value iron ore in the Republic of Gabon, west Central Africa. Our three 100% owned projects comprise one exploitation licence (mining permit) and six granted exploration licences covering approximately 5,064km2.
Our flagship Baniaka, and nearby Bakoumba iron ore projects are in south-east Gabon and provide an emerging iron ore hub near the Haut-Ogooué provincial capital city of Franceville. The Baniaka Hub is favourably situated adjacent to existing and operating bulk commodity transport and renewable energy infrastructure, to which Baniaka has secured long-term access for commercial operations.
Baniaka has defined JORC Mineral Resource and Ore Reserve estimates, and significant potential resource upside. It has received environmental approval (certificate of environmental conformance) and has been issued a large-scale, 20-year mining permit. The mining permit in conjunction with the certificate of environmental conformance provides regulatory approval for Genmin to build and operate Baniaka, which is expected to be Gabon’s first iron ore mine.
We propose to develop Baniaka at an initial rate of 5Mtpa and to increase scale over time to at least 10Mtpa. Commencement of commercial production is targeted for mid-2025 with project build financing the next milestone to be achieved. We are engaged in discussions with several potential financing partners.
Genmin has additional exploration tenure prospective for iron ore, gold and base metals at its Bitam project in the north-west of Gabon located near the Woleu-Ntem provincial capital of Oyem.
