Sign up Australia
Proactive Investors - Run By Investors For Investors

Kogi Iron ore concentrate from Agbaja Cast Steel Project in Nigeria is suited to pig iron and billet uses

The company is looking forward to returning to a definitive feasibility study after the positive test work.
Kogi Iron ore concentrate from Agbaja Cast Steel Project in Nigeria is suited to pig iron and billet uses
Kogi’s testwork on Agbaja ore has boded well

Kogi Iron Ltd’s (ASX:KFE) metals consultant Tenova Mining & Minerals Australia Pty Ltd has completed test work of ore from the Agbaja Cast Steel Project in Nigeria’s Kogi State, finding it could produce beneficiated iron ore concentrate suited to the production of pig iron and billet.

The West Perth company reported its consultant was currently writing up its findings in a report Kogi was expecting to receive in the coming weeks.

Tenova said the test work produced “a beneficiated iron ore concentrate suitable for the production of pig iron and a refined metal with a grade and composition suitable for the production of billet.”

The contractor also advised it had “not discovered any issues that would materially affect the economic viability of the project moving to the next phase.”

Kogi chairman Dr Ian Burston and chief executive Martin Wood issued a joint statement, saying: “We are excited to have such a positive notice from our consultants and look forward to receiving the formal written reports which will enable us to give further details to our shareholders.”

READ: Kogi Iron tests confirm production of upgraded concentrate from Agbaja iron ore

The company viewed the news as positive and reported it was now in a position to advance its steel project and progress its construction financing efforts.

Kogi said: “To this end Kogi anticipates that it will soon be able to announce progress on the appointment of an independent consultant to assess the steel import and consumption market in Nigeria and other rapidly developing regions of West Africa.”

The company’s proposed next steps are to resume its definitive feasibility study for the project and report progress with potential offtake partners, cornerstone investors and project lenders from the banking sector.

It wrote: “The successful completion of the testwork program will allow both the optimisation of the process for the efficient conversion on a commercial scale of the ore from the Agbaja iron ore deposit to a cast steel product and the completion of detailed capital and operating cost estimates.”

The bankable feasibility study is to include the near completed mine and a cast steel plant.

View full KFE profile View Profile

Kogi Iron Ltd Timeline

September 07 2018
May 05 2016

Related Articles

drill rig at site
April 10 2018
The company's shares are trading about 8% higher intra-day, at 1.4 cents.
cement mixer
June 04 2018
Pozzolan, and CS in particular, have become the most important area for the group
project area
July 12 2018
The Gabanintha Vanadium Project is one of the highest-grade vanadium deposits in the world.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use