NewsGeneralKogi appoints Nigerian contractor to start trial iron-ore mining

Kogi appoints Nigerian contractor to start trial iron-ore mining

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Kogi appoints Nigerian contractor to start trial iron-ore mining

Kogi Iron and its Nigerian subsidiary KCM Mining have started small-scale trial mining at the Agbaja Cast Steel project, in Nigeria.

The companies have appointed a local Lokoja-based civil engineering contractor to start the trial mining on a 30 m by 30 m by 5 m deep pit, owing to restricted availability of local officials for site sign-off on approvals, amid measures to curb the spread of Covid-19.

Lockdown of the federal capital, Abuja, has restricted business to within the Kogi state, while the Nigerian Mines Department is closed.

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However, Kogi says that online administration has been successful to obtain government support and approvals.

The trial pit and stockpiles of overburden and iron-ore will be used for ore characterisation tests to support iron-ore reserve estimates and mining and beneficiation studies in the project’s feasibility study.

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Kogi says the scope of work, completion schedules, costs and decision trees for key consultant groups have been revised and/or staged to enable progress on the feasibility study as early as possible, subject to funding.

Currently, Kogi is hosting one-on-one presentations with potential new investors, as well as using online funding platforms to progress funding finalisation for the project.

Additionally, Kogi plans to raise $8-million, or A$12-million, for the feasibility study over the next few months or as equity markets show signs of recovery.

“Covid-19 has challenged us all and remains a threat to society and business. Based on prudent measures and actions, I am confident that the company is now positioned to weather the immediate Covid-19 storm and to emerge to grow our cast steel business in Nigeria.

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“It is especially pleasing that, under clear local management guidance and policies, our activities in Nigeria have progressed on small-scale trial mining with no direct Covid-19 impacts to staff, contractors and the community,” says Kogi chairperson Greg Boulton.

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