Nigerian government pledges support for Kogi Iron's steel project
2020-09-02 13:38:35 [Print]
The Nigerian Ministry of Mines and Steel Development (MMSD) has recognized the effort that Kogi Iron is making to contribute to the diversification of the country's economy through the proposed Agbaja cast steel project.
The company received a formal letter at the end of August from Mining Minister Olamilekan Adgebite, stating that the MMSD is willing to facilitate with other Ministries on behalf of Kogi Iron when necessary.
This followed Kogi Iron presenting its proposal for MinDiver project funding of Kogi's environmental, social and governance (ESG) programs, should the mine proceed to development. The company intends to prepare and submit a revised proposal and formal application for MinDiver project funding, which is provided by the World Bank, in due course.
Kogi Iron says the letter from the Nigerian government demonstrates its support for the critical path drivers that will accelerate development of the project, particularly in obtaining a competitive gas supply contract and market entry policy for the replacement of steel imports.
The company received a formal letter at the end of August from Mining Minister Olamilekan Adgebite, stating that the MMSD is willing to facilitate with other Ministries on behalf of Kogi Iron when necessary.
This followed Kogi Iron presenting its proposal for MinDiver project funding of Kogi's environmental, social and governance (ESG) programs, should the mine proceed to development. The company intends to prepare and submit a revised proposal and formal application for MinDiver project funding, which is provided by the World Bank, in due course.
Kogi Iron says the letter from the Nigerian government demonstrates its support for the critical path drivers that will accelerate development of the project, particularly in obtaining a competitive gas supply contract and market entry policy for the replacement of steel imports.
