About
Kogi Iron Ltd (ASX: KFE) is an Australian-listed company developing the Agbaja Cast Steel Project in Kogi State, central Nigeria — one of the largest and most strategically important undeveloped iron ore deposits in West Africa. The Agbaja Plateau hosts a shallow, flat-lying channel iron deposit with a mineral resource currently estimated at 586 million tonnes at 41.3% Fe (including 466 Mt indicated at 41.4% Fe), primarily in the form of itabirite. Kogi Iron holds an exploration licence (EL12124) covering the deposit and has pioneered an innovative Direct Reduction process to convert the relatively low-grade ore directly into cast steel billets, bypassing conventional blast furnace steelmaking. Pilot plant testing completed in 2018 confirmed the technical feasibility of producing marketable cast steel suitable for electric arc furnace billet production. The project's Pre-Feasibility Study (PFS) estimated capital costs of approximately US$497 million, a pre-tax NPV of US$420 million at 12% discount rate, and an IRR of 23.7%. Nearby coal (from Okobo coalfields), limestone, and gas resources support the integrated steelmaking concept. Nigeria — which currently imports the majority of its steel — has identified the Agbaja project as a potential flagship for downstream industrial development and import substitution. Kogi Iron continues to advance feasibility work and engage with strategic investors and the Nigerian federal government. CEO: David Turvey.
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