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Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars - Politics - Nairaland

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Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Itohen: 10:41am On Oct 04, 2012
An enormous iron Ore has been found in Agbaja, Kogi State by an Energio Limited An Australian Company.
In a confirmatory statement, the company said it has discovered about 488 million tons, with an In-situ Iron grade of 42.7 per cent. The Ore will largely affect the Nigerian economy, especially everything that has to do with Iron, both usage and export.

Iron Ore currently trades on the international market for around $100.
 
According to the company, the Ore is about 13.9km2 and 9km2 represents about 15 percent of the potential areas as well as 9.2 per cent of the company’s 151km landholding for Iron, which is the first JORC Iron Ore discovered in the Country.
 
The Company however, named June 2013 as the date for update on the resources, a clinical geological survey will be done, and they believe the company would have known everything it needs to know about the entire resource potentials.
 
The current JORC resources approximation allows the admission of project development studies for the Iron Ore production project following feasibility studies.
Energio further complimented the discovery and location of the Ore, adding that the Ore is uniquely located, in a shallow flat channel, which will give room for the development and utilization of the abandoned rail lines there.
Dr. Ian Burston, the Chairman of Energio Limited in a statement noted that the discovery of the Ore is a wonderful result for the country, considering the fact that the company began drilling at the site only Last year November.

http://businessnews.com.ng/2012/10/04/enormous-iron-ore-deposit-found-in-kogi-worth-billions-of-dollars/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+NigeriaBusinessNews+%28Nigeria+Business+News%29
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Nobody: 1:59pm On Oct 04, 2012
Does that mean they'll leave OUR oil alone for us?

2 Likes

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by MrGlobe(m): 2:03pm On Oct 04, 2012
Good for them. Now they can leave our oil for us. Abi them don leave am self as the noise has ceased. cool

1 Like

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Nobody: 2:06pm On Oct 04, 2012
^^^ I think apart frm America, China nd co, Ausralia is also buying part of Nigeria!

1 Like

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by basisop(m): 2:10pm On Oct 04, 2012
Now we can rest!
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Ayorh4you(m): 2:18pm On Oct 04, 2012
Mr. Globe:
Good for them. Now they can leave our oil for us. Abi them don leave am self as the noise has ceased. cool

which oil do u hv Mr man? U nid 2 wake up frm ur sleep. D oil is ours (Kogi) and we gonna fight it 2 d last point. Bar.awo

3 Likes

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by MrGlobe(m): 2:42pm On Oct 04, 2012
Ayorh4you:

which oil do u hv Mr man? U nid 2 wake up frm ur sleep. D oil is ours (Kogi) and we gonna fight it 2 d last point. Bar.awo
is your name not ayokunle or is it ayodeji. Ayo, Another fraudulent yorrober person.

which oil is yours? palm oil?

5 Likes

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by 1800bc(f): 2:47pm On Oct 04, 2012
these country get too much money...haba...God has really blessed us...and we are here fighting for ownership...change your declaration of age na!
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Okijajuju1(m): 3:29pm On Oct 04, 2012
CHEI!!! KOGI is in trouble!!! ENIVRONMENTAL DEGRADATION O!! Look at what Mining did to Jos and Enugu.. Nigeria is not ready for open pit mines o!! Not even underground mines sef!!!
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by hollypagan: 3:33pm On Oct 04, 2012
Nigeria a wonderful virgin land
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by knotty(m): 3:37pm On Oct 04, 2012
Without a functioning rail system from source to loading vessels, your Iron ore deposit is useless.
The logistics of moving Iron is so huge that your price will never be competitive internationally except the grade is above 60%. Where will you get that.
Besides, USA/China have some sweet Iron Ore deposit that they can completely ignore Kogi State...Where on the map is that State again?

2 Likes

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by NRIPRIEST(m): 3:40pm On Oct 04, 2012
knotty: Without a functioning rail system from source to loading vessels, your Iron ore deposit is useless.
The logistics of moving Iron is so huge that your price will never be competitive internationally except the grade is above 60%. Where will you get that.
Besides, USA/China have some sweet Iron Ore deposit that they can completely ignore Kogi State...Where on the map is that State again?

You danm negative!

2 Likes

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by alaoeri: 3:41pm On Oct 04, 2012
Iron ore nice one they shld just put necessary measures in place to avert calamities during mining beside how 'll it be if its diamond or gold that was discovered in large quantity?
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by executinal(m): 3:42pm On Oct 04, 2012
Good but more money for looters undecided
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by stjudas(m): 3:46pm On Oct 04, 2012
South-south and South-east got oil, Kogi got Iron Ore. When will the Boko haram infested North and their Western counterpart be productive?
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by pastie(m): 3:46pm On Oct 04, 2012
cheesy
Mr. Globe:

is your name not ayokunle or is it ayodeji. Ayo, Another fraudulent yorrober person.

which oil is yours? palm oil?
lwkd.guy u bad o cheesy
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by wizecoder: 3:50pm On Oct 04, 2012
Itohen: An enormous iron Ore has been found in Agbaja, Kogi State by an Energio Limited An Australian Company.
In a confirmatory statement, the company said it has discovered about 488 million tons, with an In-situ Iron grade of 42.7 per cent. The Ore will largely affect the Nigerian economy, especially everything that has to do with Iron, both usage and export.

Iron Ore currently trades on the international market for around $100.
 
According to the company, the Ore is about 13.9km2 and 9km2 represents about 15 percent of the potential areas as well as 9.2 per cent of the company’s 151km landholding for Iron, which is the first JORC Iron Ore discovered in the Country.
 
The Company however, named June 2013 as the date for update on the resources, a clinical geological survey will be done, and they believe the company would have known everything it needs to know about the entire resource potentials.
 
The current JORC resources approximation allows the admission of project development studies for the Iron Ore production project following feasibility studies.
Energio further complimented the discovery and location of the Ore, adding that the Ore is uniquely located, in a shallow flat channel, which will give room for the development and utilization of the abandoned rail lines there.
Dr. Ian Burston, the Chairman of Energio Limited in a statement noted that the discovery of the Ore is a wonderful result for the country, considering the fact that the company began drilling at the site only Last year November.

http://businessnews.com.ng/2012/10/04/enormous-iron-ore-deposit-found-in-kogi-worth-billions-of-dollars/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+NigeriaBusinessNews+%28Nigeria+Business+News%29






Funny country....... mining iron ore without functional steel rolling mill ....google itakpe BIF..........
Ok you thinking f export maket...? impossible without rail.... if we can fix these stuffs then we can talk of the economic value .
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Nobody: 3:53pm On Oct 04, 2012
Interesting - but it's Nigeria and we all know how it's going to end up... undecided
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Arogba: 3:56pm On Oct 04, 2012
A lot of ignorant people on this tread. The last time i checked Ajaokuta was still in Kogi state. The rail line from Ajaokuta to Warri and Ajaokuta to Itakpe is the only standard guage rail line in Nigeria.
This is not a new discovery because so many years ago, as a Metallurgical engineering student we studied about Agbaja Ore.

3 Likes

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Okijajuju1(m): 4:00pm On Oct 04, 2012
Arogba: A lot of ignorant people on this tread. The last time i checked Ajaokuta was still in Kogi state. The rail line from Ajaokuta to Warri and Ajaokuta to Itakpe is the only standard guage rail line in Nigeria.
This is not a new discovery because so many years ago, as a Metallurgical engineering student we studied about Agbaja Ore.


So you studied this ore and yet you couldnt discover shiit!! Abi you discovered it and thought it was granite!! And you have the hairy ballz to call people ignorant!! I wonder what you graduated with sef?!

2 Likes

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Nobody: 4:02pm On Oct 04, 2012
Quote from movie Blood Diamond:

'Throughout the history of Africa, whenever a substanceof value is found, the locals die, in great number and in misery.'

7 Likes

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by 9jagobetta: 4:08pm On Oct 04, 2012
Hmm... Another curse in disguise. Almighty God remove all these natural curses from the land and leave us with agricultural blessing so that we can experience peace on this green land again. This will only make our so called leaders who are actualy dictators more greedy, more curupt and heartlessly enrich themselves to the Nation's deteriment. May God help us. AMEN.

4 Likes

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Nobody: 4:18pm On Oct 04, 2012
My oh my......in the year 2012, the black monkeys in Nigeria still need the WHITE man to help them discover their NATURAL resources. What useless species of sub humans in that gaddamn jungle!

1 Like

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by dridowu: 4:19pm On Oct 04, 2012
Na so dy will alwayz talk, wen oil was found in 9ja i believe what dy said is it worth billlions, also all other natural resources worth billions of dollars but what can we show for it ? Everything in 9ja worth billions of $
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by JimmyBoy1: 4:25pm On Oct 04, 2012
What have we done with the deposits at Ajaokuta?
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by KayDee4: 4:30pm On Oct 04, 2012
Did they just find it ? Okay maybe the very big one. But these resources have always been there and even in Okene or so, as glaring outcrops they just failed to tap into it all these years.
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Arogba: 4:30pm On Oct 04, 2012
@okija_juju.
You are still exhibiting ur ignorance here. Agbaja iron ore was discovered in the 70's even before the idea of Ajaokuta steel company was concieved.

1 Like

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Okijajuju1(m): 4:33pm On Oct 04, 2012
Arogba: @okija_juju.
You are still exhibiting ur ignorance here. Agbaja iron ore was discovered in the 70's even before the idea of Ajaokuta steel company was concieved.

Are you saying that this company didnt discover anything new?! Na wah o!
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by knotty(m): 4:36pm On Oct 04, 2012
NRI PRIEST:

You danm negative!

Because blind optimism has kept a lot of folks in perpetual despondency.
Do you have a functioning processing plant to cook the Ore? Is Ajaokuta alive? def def no. It then means the only option available to any miner is to export the ore.
But, you cannot make any meaningful export of Manganese muchless Iron because of the weight of the product.
Only rail can carry Iron ore from source to the point of export.
The investors know this and that is why they are not in a rush.
Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Kslib(m): 4:40pm On Oct 04, 2012
Itohen: An enormous iron Ore has been found in Agbaja, Kogi State by an Energio Limited An Australian Company.


http://businessnews.com.ng/2012/10/04/enormous-iron-ore-deposit-found-in-kogi-worth-billions-of-dollars/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+NigeriaBusinessNews+%28Nigeria+Business+News%29
Kai.. Na wa oh.. How many eyes do australians have? Abi na 4 eyes... So we don't even know what we have? We can't even discover what we have on our own land? God help us...
In that case,i should better start digging our backyard,who knows what i will find?.. Maybe gold or australian eyes

1 Like

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Wsdm: 4:46pm On Oct 04, 2012
Is a good thing. But natural resources is not a ticket to good living as we have all experienced in this country.The ticket is; good leaders, as we have also seen in most developed world that have minimal natural resources. Let us focus on good leadership and everything is at our disposal.

1 Like

Re: Iron Ore Deposit Found In Kogi, Worth Billions Of Dollars by Nobody: 4:51pm On Oct 04, 2012
Jimmy Boy: What have we done with the deposits at Ajaokuta?

White men are dubious the mining will only start when a govt. Official gives them a handful of resources for a bribe...

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