Gabon firms sign iron ore rail deal
REMINAC and SETRAG will negotiate transport of Baniaka iron ore to Owendo port.
Gabon's Baniaka iron ore project has moved forward with a memorandum of understanding signed on October 28, 2026, in Libreville. REMINAC, which is developing the project, and SETRAG, the railway operator, agreed to negotiate the transport of future iron ore production by train to the port of Owendo. This agreement aims to structure the logistics for the project, which is expected to boost Gabon's mining potential.
The deal will lead to discussions on ore flow scheduling, transport capacity on the Transgabonais railway, potential infrastructure work, and pricing and commercial terms. SETRAG's director general, Christian Magni, stated the collaboration aligns with the Transgabonais' role in supporting the country's economic sectors.
Genmin, the group overseeing the Baniaka project, has invested approximately $120 million USD in its development. Thierry Makando, Genmin's country director, stated the signing is an important step towards realizing the Baniaka project, emphasizing the need for a reliable and cost-effective logistics solution to support production startup.
Why it mattersGabon's mining sector development is progressing with an agreement to transport iron ore.