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Zanaga Iron Lines up $25M in Deal with Red Arc

Zanaga Iron (LON:ZIOC) signed a binding term sheet with Red Arc Minerals for an initial up‑to‑$25 million cash tranche to finance engineering and pre‑production work on its Congolese iron‑ore project. The agreement gives Red Arc a 20% stake in the project’s subsidiary Jumelles, with an option to invest an additional $125 million within 18 months for a further 67.5% ownership, potentially raising its total holding to 87.5%. ZIOC would retain a 1% net‑sales royalty, and the structure leaves the listed company non‑dilutive while accelerating progress toward a final investment decision.