ASX-listed junior Kogi Iron’s wholly-owned subsidiary, KSM Mining, has been granted mining licences for the Agbaja iron ore and steel project in Nigeria.Nigeria – This follows the application to the Nigerian Ministry of Mines & Steel development in December 2016 for two mining licences – to ensure the entire footprint of its Agbaja tenements are covered for the long term.
The mining licences cover 90.7 km2 and contain the 586 Mt of indicated and inferred resources.
Kogi iron chairman Ian Burnston recently met in Lokoja, Nigeria, with the Paramount Ruler over the Oworo People and his traditional community representatives, who offered their continued support for the project, having already signed a community development agreement for the project.
Following discussion with furnace and smelting plant specialist Tenova Pyromet, engineering house PW Group and South Africa’s state-owned minerals researcher Mintek, Kogi Iron will undertake the excavation and transport of a 50 t bulk sample for metallurgical testing.
The testing, to be conducted by Mintek in Johannesburg, forms and integral part of progressing Kogi Iron’s definitive feasibility study.
Meanwhile, Kogi Iron is discussing potential joint venture (JV) opportunities with a number of parties who have expressed an interest in participating in the Agbaja project.
The iron junior notes that these discussions are at an early stage and remain incomplete, but that a JV arrangement is one of a number of funding mechanisms currently under consideration to fund the project.