Kogi Iron Ltd (ASX:KFE) has been granted a trading halt by the ASX pending an announcement to the market regarding its response to an ASX price query and an update on the Fastmarkets MB market study announced to ASX on August 31, 2018.
The halt will remain in place until the earlier of the start of trading on Thursday, January 17, or when the announcement is released to market.
Kogi aims to become a producer of cast steel products by developing its 100%-owned Agbaja project in the Kogi State within Nigeria.
Nigeria has substantial domestic demand for steel production, which is largely met through imports.
The Agbaja project opens the opportunity for domestic production of steel billets.