The management of Australia-based Kogi Iron Ltd, today, met with Minister of Solid Minerals Development in Abuja.
As was reported on Kogireports recently, Kogi Iron has been granted two mining licences for its Agbaja iron-ore and steel project, in Kogi state, Nigeria.
The two granted mining licences cover 90.7 km2 and contains 586-million tonnes of indicated and inferred mineral resources.
Previously completed pre-feasibility studies have estimated that a five-million-tonne-a-year operation could be developed at Agbaja, with capital expenditure estimated at around $497-million. The project is expected to have an average operating cost of some $42.98/t of concentrate, and would likely return earnings before interest, taxes, depreciation and amortisation of $136-million a year
Kogi Iron is currently discussing potential joint venture opportunities with a number of parties that have expressed an interest in participating in the Agbaja project, with the company saying on Friday that these discussions were at an early stage and remained incomplete.
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Concern
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We do hope Agbaja Community in Lokoja LGA and Kogi State Government are being considered in the Joint Venture arrangement.
