Genmin Limited (Genmin or Company) (ASX: GEN) is an emerging greener, higher value iron ore producer listed on the ASX, pioneering iron ore mining in the Republic of Gabon, west Central Africa. Genmin has a 100% interest in three projects comprising six granted exploration licences covering approximately 5,064km2.
Genmin’s Baniaka and Bakoumba projects are located in south-east Gabon near the provincial city of Franceville, where the Company has an extensive footprint and controls all acreage prospective for iron ore. The Baniaka and Bakoumba projects represent an iron ore hub with 2,445km2 of landholding and 121km of iron mineralised strike with only 13% drill tested with diamond drilling.
Genmin’s flagship project, Baniaka, is at feasibility stage with defined JORC Code (2012 Edition) Mineral Resources and Ore Reserves and is favourably situated adjacent to existing and operating bulk commodity transport and renewable energy infrastructure. The Company is preparing a Mining Permit Application for submission to the Gabon Government in early 2023, and targeting first production at Baniaka in mid-2024.
Gabon is a stable and investment friendly country with a mining and oil production history dating back to the early 1960s. It is currently the second largest producer of manganese ore in the world and eighth largest crude oil producer in Africa.