On Monday 8 January 2024 in Libreville, after 12 years of waiting, the Minister of Mines, Hervé Patrick Opiangah, presented the Managing Director of REMINAC (a GENMIN subsidiary), Joe Ariti, with the presidential decree that will allow his company to produce iron ore at the Baniaka site for the next twenty years.
The operational phase will begin in the second trimester of 2025, with production of 3 million tonnes a year, rising gradually to 5 and then 10 million tonnes.
The initial investment to launch the project is 250 million dollars, or nearly 125 billion FCFA.
REMINAC’s Managing Director Joe Ariti pointed out that his company has been working on the site in question for 12 years, having already drilled 48m2, carried out a social and environmental impact study and completed all the feasibility studies.
The company expects to employ between 500 and 700 people directly and just over 500 indirectly through local service providers who will be involved during the operating phase.
REMINAC company is also committed to building the road that will allow the ore to be transported to the railway for evacuation. This will be followed by the installation of the power line that will supply the site from the Poubara dam.
As a reminder, the Baniaka project concerns an iron deposit in Haut Ogooué, 70km south of Franceville.
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