ZIOC encouraged by improved equilibrium in iron-ore market, to enhance Congo project’s investment case

The global iron-ore industry's performance improved significantly in 2016 from a cost and pricing perspective, providing a much more positive platform going into 2017, Zanaga Iron Ore Company (ZIOC) nonexecutive chairperson Clifford Elphick said on Thursday. Industry operating costs have been drastically reduced across the iron-ore sector over recent years, driven by lower freight rates and oil prices, weaker domestic currencies versus the US dollar, and more competitive pricing from contractors, Elphick noted in a statement.