Gabon - Iron: 1 billion tons of reserves

Located in northeastern Gabon, the Belinga iron ore deposit was discovered in 1955. After decades of unsuccessful collaboration with various mining companies, the government is now relying on its partnership with the Australian company Fortescue. Having successfully completed the 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 world's largest undeveloped high-grade hematite deposits.
Baniaka, located in southeastern Gabon, covers a total area of 881 km². The true potential of its iron ore deposit will allow the country to replace manganese. Genmin Limited announced at the end of May 2022 an increase of 1,681 metric tons (tt) in the mineral resources of its Baniaka project. These now reach 700 million tonnes, grading 391 tt of iron ore, thanks to the first resource estimate of the Bandjougoy deposit, which adds 436 million tonnes to the project's previous estimate. With 700 million tonnes, Baniaka is now, by far, Gabon's largest mineral resource, across all products. For ore transport, the project relies on the port facilities of Owendo and includes the construction of a 60-kilometer railway line to connect the production site to the Trans-Gabon Railway.

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The Gabonese 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 effort to revitalize the Gabonese economy through resource diversification. Located near Tchibanga in Nyanga Province, this deposit is the second largest iron ore deposit in Gabon after Belinga. It represents reserves of approximately 135 million tons, including 18 million tons of DSO (deep-stained iron ore), a high-grade iron ore. At the time the framework agreement was signed, production at the mine was scheduled to begin 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 leading 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.