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, with the goal of increasing production to 2 million DMTU by 2028. This expansion, it stated, is “as per the agreed wagon allotment granted by the NRC to Standard Ore on the country’s Standard Gauge railway network.”
“Standard Ore actively manages over 13 mineral properties across Nigeria, encompassing Lead-Zinc, Gold, Silver, Lithium, Aluminium, Rutile, Palladium, and Iron Ore. With combined recoverable metal reserves exceeding $10 billion at current spot prices, the company plays a vital role in the nation’s mining sector,” the company noted in a statement.
The company further explained that the collaboration with NRC aims to offer a reliable and cost-effective transportation solution to support its increasing iron ore production.
It added, “By securing a stable logistics framework, Standard Ore aims to enhance its competitiveness in the global market. Standard Ore’s decision to integrate rail haulage reflects its commitment to investing in infrastructure and sustainable logistics. The company recognises that efficient transportation is essential for scaling operations and meeting rising global demand for iron ore and steel. This strategic initiative not only streamlines operations but also positions Standard Ore as a leader in the mining sector of Nigeria.”
“The announcement of this rail haulage partnership showcases Standard Ore’s growth trajectory and long-term vision. Current and prospective buyers of Standard Ore’s bulk products will benefit from this enhanced logistical framework. The company’s strategy aims to meet the demands of an evolving market and to secure its place as a key supplier in the industry.”
“With this new partnership, Standard Ore Company Limited not only strengthens its operational foundation but also contributes to the revitalisation of the Nigerian railway system, promoting a sustainable model for bulk minerals logistics in the region. As the company moves toward its targets, it remains committed to leveraging its extensive mineral portfolio for long-term growth and success.”