Gabon - Iron: 1 billion tons of reserves

For several years, mining groups have shown increasing interest in Gabon's iron, whose unexploited resources are estimated to exceed one billion tonnes.

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Located in northeastern Gabon, the Belinga iron ore deposit was discovered in 1955. After decades of fruitless collaboration with various mining companies, the government is now focusing on its partnership with the Australian company Fortescue. Having successfully completed initial exploration work, Fortescue will, through the Belinga project, strengthen the mining sector's contribution to the Gabonese economy. The Belinga iron ore project is potentially one of the largest undeveloped high-grade hematite deposits in the world.
Baniaka, located in southeastern Gabon, covers a total area of 881 km². The real potential of its iron ore deposit will allow the country to take over from manganese. Genmin Limited announced at the end of May 2022 an increase of 1,68% in the mineral resources of its Baniaka project. They now reach 700 million tonnes grading 39% of iron, thanks to the first resource estimate of the Bandjougoy deposit, which adds 436 million tonnes to the previous estimate for the project. At 700 million tonnes, Baniaka is now by far Gabon's largest mineral resource, all products combined. For ore evacuation, the project relies on the Owendo port facilities and includes the construction of a 60-kilometer railway line to connect the production site to the Transgabonais railway.

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Gabonese-registered company Havilah Consolidated Resources, based in South Africa, is seeking to revive the Milingui iron ore mine project in Nyanga province. The framework agreement for this project was signed between the Gabonese government and Havilah on February 2, 2018. The launch of the Milingui iron ore project is part of the revival of the Gabonese economy through the diversification of its resources. Located near Tchibanga, in Nyanga province, this deposit is the second largest iron ore deposit in Gabon after Belinga. It represents reserves of around 135 million tons, including 18 million tons of DSO, a high-grade iron ore. When the framework agreement was signed, the mine was scheduled to begin production in 2020 with a total investment estimated at $1 billion, or nearly 600 billion CFA francs. China is the world's largest consumer of iron ore. Already Gabon's largest customer for manganese, major Chinese companies are showing interest in the country's iron ore reserves. Belinga, Baniaka, Milingui, and, to a lesser extent, Bakoumba and Minvoul/Bitam, represent an opportunity to increase Gabonese mining revenues.