Kogi Iron has signed two separate memorandums of understanding (MoUs) with Africa-based groups to progress the development of its Agbaja iron and steel project, in Kogi State, Nigeria.
The MoUs were executed with South Africa’s Tenova Pyromet and Nigeria-based PW Group, and created a framework under which contracts for services could be negotiated, subject to suitable commercial terms being reached.
Part of Tenova’s brief will be to assist Kogi in finalising a definitive feasibility study on the Agbaja project. The study had originally been due for completion in June this year, but had taken longer than expected owing to additional time required to validate the proposed processing plant throughput, operating and capital cost parameters, and the greater-than-anticipated complexity of the financial modelling and project planning.
The study is now due late in the first half of 2017.
