150m loan, page-4

Check this out.
Article below the link (and the link actually has one of Kogi's pictures!)

This can only be a very very good thing!

I reckon if the company put out an announcement saying what this means for the sector and how its in a prime position to benefit, the SP would probably double.


https://translate.googleusercontent...gerian&usg=ALkJrhh8Hp-nnDXEuVV9c9NE1k5I234N7A


World Bank Provides $ 150 Million for Nigerian Mining Sector Development


(Ecofin Agency) - Nigeria will receive $ 150 million in funding from the World Bank to develop its mining sector The board of directors of the financial institution has indeed approved the implementation of a credit project to increase the sector's contribution to the Nigerian economy.
The project is aimed at helping the government to diversify its economy dominated by the oil sector, in particular by taking full advantage of its mineral resources. "Nigeria has a favorable geological potential that, if properly assessed, well exploited and managed in a sustainable way, could support wider economic growth ...," says World Bank Country Director in Nigeria Rachid Benmessaoud .
A key objective will be to create an enabling environment for investment in the sector, which will involve strengthening mining policy, regulating small-scale artisanal mining. The World Bank has also identified other obstacles to the development of the mining sector, which will be addressed by the project. These include lack of skills, inadequate geological data and access to equipment.
Nigeria has many unexploited deposits of 44 minerals including gold, iron ore, coal, tin, zinc spread across more than 500 sites. The only major foreign investor in the mining sector in the country is Kogi Iron, which operates on the Agbaja iron ore project.