Nigeria: Standard Ore Partners With NRC for Iron Ore Haulage

3 October 2024
This Day (Lagos)

Standard Ore Company Limited has announced an initial allocation of one million dry metric tonnes (DMTU) of iron ore per year for rail transport, following a new partnership with the Nigerian Railway Corporation (NRC).

This collaboration aims to improve the efficiency of iron ore transportation in Nigeria and targets a production increase to two million DMTU annually by 2028, based on the wagon allotment provided by the NRC for the Standard Gauge railway network.

Managing over 13 mineral properties across Nigeria, Standard Ore's portfolio includes lead-zinc, gold, silver, lithium, aluminum, rutile, palladium, and iron ore, with recoverable metal reserves valued at over $10 billion at current market prices. The company plays a crucial role in the country's mining industry.

The partnership with the NRC is intended to establish a reliable and cost-effective transportation solution to support Standard Ore's growing iron ore production. By securing a stable logistics framework, the company aims to enhance its competitiveness in the global market.

This strategic initiative not only enhances Standard Ore's overall operational efficiency, but also reinforces Standard Ore's position as a leader in Nigeria's mining sector.

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