This post has already been read 5586 times!

In a groundbreaking move, the Federal Government has welcomed a $1 billion iron ore to steel project in Kogi State, poised to revolutionize Nigeria’s solid minerals sector. The project, a joint venture between Chart and Capstone Integrated Limited and Sinomach-He, aims to establish an iron ore mining site and steel manufacturing plant, creating jobs and promoting industrialization.

With the government’s commitment to reversing the “pit to port” approach, this project marks a significant breakthrough in local value addition. Minister of Solid Minerals Development, Dr. Oladele Alake, praised the initiative, highlighting its potential to address the trade imbalance between Nigeria and China.

The project’s model, outlined by Chief Abel Edijala, CEO of Chart and Capstone Integrated Limited, will service the Nigerian economy’s industrialization needs, while Sinomach-He’s Vice Manager, Hou Encai, confirmed the company’s readiness to commence the project, leveraging its expertise in mining, iron making, and steel production.

This landmark project is expected to transform Nigeria’s economy, creating a new era of industrialization and job creation. With the government’s support and the involvement of reputable companies, this initiative is set to make a significant impact on the country’s solid minerals sector.