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Kogi Iron’s Don Carroll takes over chairman role

Kogi aims to become a producer of cast steel products by developing its 100%-owned Agbaja project in the Kogi State within the Republic of Nigeria.

three empty board seats
Outgoing chairman Ian Burston will remain available to the company

Kogi Iron Ltd (ASX:KFE) non-executive director Don Caroll has replaced 83-year-old Ian Burston as the board’s chairman today.

Burston has been chairman of Kogi since 2011 and has overseen the development of the company’s Agbaja Cast Steel Project in Nigeria.

Burston said: “Agbaja is a project with outstanding potential to become a world-scale player in iron ore and steel products.

“Kogi now needs a Board that can see the development of the Agbaja project through financing, construction and into production.

“That will require a team that can make a long-term commitment to the company and its loyal shareholders, so this is an appropriate time to hand over the reins.

READ: Kogi Iron gains additional board expertise with election of new director

Burston added: “Agbaja is a superb project with a magnificent mineral resource. It enjoys outstanding support from the Nigerian Government and has strong relationships with the communities in which it operates.

“The project is now well advanced, so this is a natural point to hand over and let others take it through to completion and production.

“Going forward I will remain available to the company to provide support and consultation as required.”

Quick facts: Kogi Iron Ltd

Price: 0.046 AUD

Market: ASX
Market Cap: $30.52 m

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