EL 16998 was first approved in September 2015 and has been replaced by EL 28784 in the normal course of business.
Following this grant, the company now holds 100% interests in Mining Leases ML24606, ML24607 and ML 25376; and retains Exploration Licences EL14847 and EL28784 where it plans to conduct additional exploration.
Kogi Iron is operating in Nigeria via its fully owned subsidiary KCM Mining which has a portfolio of exploration and mining licences for the Agbaja iron ore deposit in Kogi State, Nigeria.
Kogi Iron chairman Don Carroll said: “The maintenance of our mining leases and exploration permits is a key role of our management team at KCM Mining and it is pleasing to see the continuing positive results of this work.”
The company recently received the results of a market feasibility study conducted by Fastmarkets MB for the Agbaja Cast Steel Project in Nigeria.
The objective of the study was to confirm the overall level of potential market demand for the cast steel product that Kogi intends to produce from the Agbaja Cast Steel Project.
The study results will be fed into the definitive feasibility study (DFS), which will amongst other things determine the sizing of the Agbaja Cast Steel Project’s processing facility.
Agbaja iron ore can produce high-quality steel
Fastmarkets confirmed that based on bulk sample process work undertaken last year by Mintek/Tenova, the Agbaja iron ore produced a high-quality steel product.
The product has a 99.61% iron grade with minimal impurities – 0.0939% carbon, 0.003% manganese, 0.015% silicon, 0.0194% phosphorus and under 0.0632% sulphur.