Standard Ore Company Limited has revealed an agreement with the Nigerian Railway Corporation (NRC) to transport 1 million dry metric tonnes (DMTU) of iron ore annually by rail, marking a key step in enhancing its logistics and operations. According to the company, this partnership is expected to improve the efficiency of iron ore haulage in
Nigeria, Russia Collaborate to Revive Ajaokuta Steel and Iron Ore Mining
The Nigerian government has signed a Memorandum of Understanding (MoU) with a Russian consortium to rehabilitate, complete, and operate the Ajaokuta Steel Plant and the National Iron Ore Mining Company (NIOMCO) in Kogi State. A statement released by the Head of Press & Public Relations at the Ministry of Steel Development, Salamatu F. Jibaniya, confirmed
Youths Urge FG to Revitalise Ajaokuta Steel for Job Creation
The Niger Delta Ethnic Nationalities Youth Leaders Council has called on the federal government to revive the Ajaokuta Steel Company to increase job opportunities for the country’s youth. In a statement, President-General Comrade Terry Obieh highlighted concerns about the ongoing neglect of the steel plant, stressing that Nigerians cannot afford to overlook a project that
Leveraging China’s Downturn for Nigeria’s Steel Advantage
The recent plunge in iron ore prices, driven by a weakening Chinese property sector, presents a unique opportunity for Nigeria to rejuvenate its steel industry and boost economic development. As iron ore prices hit their lowest levels in two years, falling below $100 per tonne, Nigeria must strategically leverage this situation for long-term growth. Nigeria
Harnessing Nigeria’s Iron Ore Reserves for Economic Growth
Despite their potential to drive economic growth, Nigeria’s iron ore reserves, estimated at 3 billion tonnes, remain largely untapped. The country’s iron ore deposits are found in Kogi, Enugu, and Niger states, with the majority located in Kogi. The iron ore conundrum in Nigeria is multifaceted. On one hand, the country has significant reserves, but