KOGI Iron

KCM Mining Limited

ASX Code: KFE

Projects Overview

  • The Agbaja Integrated Steel 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 infrastructure including road, river and power suitable to facilitate a major steel project.
  • In January 2017 the Company announced its intention to develop an integrated steel plant utilising the company owned iron ore deposit and nearby coal and limestone sources.
  • The results of a laboratory scale test on the iron ore demonstrated that it could be converted to a steel product suitable for electric arc furnaces.
  • In November 2017 the company commenced a Pilot Plant Test Program on a large bulk sample to demonstrate the process in a continuous batch mode.
  • The Company is now progressing with a Definitive Feasibility Study to determine the economic viability of the project and to support the financing of a 520,000 tonne per annum integrated steel plant.
  • In October 2017, the Company engaged SD Capital and GBK Ventures Ltd to secure debt funding for the project as well as equity finance to complete the DFS and project financing.