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Kogi Iron gains support from Nigerian minister and other stakeholders to build cast steel project

Recent test work successfully demonstrated a process route to produce cast steel product suitable for billet steelmaking with >99% iron recovery.
His Majesty The Olu of Oworo and other community stakeholders with KCM and Kogi teams.
His Majesty The Olu of Oworo and other community stakeholders with KCM and Kogi teams.

Kogi Iron Ltd (ASX:KFE) has received overwhelming support from the Nigerian government and other stakeholders for the Agbaja Cast Steel Project owned by Kogi’s 100% subsidiary KCM Mining Limited.

Kogi chief executive officer Martin Wood recently visited the Agbaja project and Nigeria’s capital Abuja, accompanied by Alabi Samuel Olugbenga, the recently appointed KCM Country Manager.

In Abuja, Wood and Samuel visited the Minister of State for Mines and Steel Development – The Honourable Abubakar Bawa Bwari.

The meeting, chaired by the minister, included key members of the ministry and industry specialists with extensive first-hand knowledge of the project and the deposit.

The minister expressed his pleasure at the results of the recent Mintek study (demonstrating the ability to produce a high-quality cast steel product from the KCM Agbaja ore) and gave his full support for the Agbaja project.

READ: Kogi Iron test work program supports steel producing future

The Mintek test work successfully demonstrated a process route to produce a low phosphorus / low sulphur cast steel product suitable for billet steelmaking with >99% iron recovery.

This will underpin Kogi’s plan to develop the first integrated cast steel project in Nigeria which will utilise the Agbaja iron ore as feedstock to produce cast steel billet products to be sold as replacement for current imports of scrap steel.

Support from community stakeholders

At meetings with His Majesty The Olu of Oworo, the project was discussed in a very friendly and constructive manner, and both parties expressed happiness with the current arrangements and a desire to see the project move forward.

His Majesty The Olu of Oworo expressed his support for the current team of both KCM and Kogi and offered every assistance in the development of the Agbaja Cast Steel Project.

The chairman and other stakeholders of the Community Development Agreement (CDA) were also in attendance.

A very useful and cordial discussion was had surrounding the CDA and the progress of the project.

 

Kogi non-executive chairman Dr Ian Burston said: “We are delighted that the relationship with our partners and stakeholders in Nigeria remains so strong and we continue to look forward to developing the Agbaja Cast Steel Project with our partners.

“Morale in KCM has never been better and the team feels motivated and empowered to take the project forward.”

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Newswire
September 07 2018

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