Genmin (ASX:GEN) unit, Reminac SA, has signed a mining convention with the Gabon government for the Baniaka iron ore project in Africa, after nearly 12 months of negotiations, according to a Monday filing with the Australian bourse.
The convention sets out the legal, fiscal, environmental, and technical obligations of both parties, the filing said.
Once developed, the project will utilize conventional open-pit mining and iron ore processing methods to produce lump, fines, and pellet feed products, with commercial production expected to start by late 2026, the filing added.
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