KOGI Iron

Discover a world class iron ore opportunity in Nigeria KCM Mining Limited

ASX Code: KFE

Projects Overview

The Agbaja iron ore project is located on the Agbaja plateau in Kogi State, Nigeria, approximately 200 kilometres from the capital city, Abuja.  The plateau hosts an extensive, shallow, flat-lying channel iron deposit (CID) and Kogi Iron has determined a Probable Ore Reserve of 205 million tonnes at a grade of 45.7% iron (Fe) estimated in accordance with the JORC (2012) code.  Mineral Resources on the plateau are 586 million tonnes with an in-situ grade of 41.3% and comprise an Indicated Mineral Resource of 466 million tonnes at 41.4% Fe and an Inferred Mineral Resource of 120 million tonnes at 41.1% Fe, all estimated in accordance with the JORC (2012) code.

The Agbaja Project is uniquely positioned proximal to existing, under-utilised river and port infrastructure suitable for the transport of bulk commodities, such as iron ore concentrate.

In January 2014 the Company announced the results of a Preliminary Feasibility Study (PFS) which determined that the development of an iron ore mining and processing operation at Agbaja to produce 5 million tonnes of upgraded iron ore concentrate was technically and economically viable.  The Agbaja Project is robust and highly attractive with an IRR of 23.7%, an estimated pre-tax NPV of US$420 million (@ 12% discount) and a four year capital payback.


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