Genmin, Sinohydro to Develop Gabon’s First Iron Ore Project

Australian mining company Genmin has entered into a binding agreement with Chinese state-owned hydropower and construction firm, Sinohydro, to advance the development of the Baniaka Iron Ore Project in Gabon.

Under the agreement, Sinohydro will prepare an engineering, procurement and construction plan for the project and support Genmin in securing more than $250 million in financing.

“Sinohydro provides the opportunity for Genmin to rapidly advance critical path construction activities at Baniaka, thereby minimizing the timeframe to bring high-grade, green iron ore to market,” stated Andrew Taplin, CEO, Genmin.

Genmin highlighted Sinohydro’s decade-long presence in Gabon – including its work on the 35 MW Kinguélé Aval hydropower plant and the Grand Poubara hydroelectric facility – as a strategic advantage in delivering the country’s first iron ore operation.

The Baniaka project is expected to commence production in 2026, with an initial output of 5 million tons of iron ore in its first year, scaling up to 10 million tons annually over time.