GenMin (GEN.AX) has released an update on its flagship Baniaka iron ore project in Gabon. According to the most recent studies, approximately 60% of the total output will consist of fines which should have a premium pricing compared to the benchmark prices. According to the company, the premium for the fines would be approximately $23.45 per dmt of end product while the lump product would achieve a premium of just under $11/dmt based on the Pilbara benchmark product.
The total resources at Baniaka stand at 258 million tonnes of in situ iron ore (including almost 92 million tonnes of oxidized material) at an average grade of 40.1% Fe (although the 60 million tonnes of Detrital Iron Deposits has an average grade of just over 47% Fe.
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