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Africa Down Under 2016: Fayemi lays it all out in Perth, page-5

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livas1

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12/09/16

13:26

Post #: 19095726
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Originally posted by Chiller ↑

For all you slackers who are to hopeless to pay: put in your own expletives where appropriate.

Nigerian mines and steel development minister Kayode Fayemi, a favorite of president Muhammadu Buhari, organized his own mining investment seminar yesterday on the sidelines of the Africa Down Under mining conference in Perth. Fayemi, who did much to help Buhari's campaign last year by championing diversification into mines from the flagging oil economy, was flanked in the posh halls of the Pan Pacific Hotel by Paul Lehman, Australia's high commissioner to Nigeria, and Mohammed Amate, managing director of the country's Nigerian Mining Cadastre Office.

The minister talked of appointing what he termed a "mining investment strategy team" to supervise revival in an industry by initially focusing mainly on industrial minerals like kaolin and limestone.

Andrew Lane, Africa energy and resources leader at the firm Deloitte Consulting, took the floor to underscore the mining potential of the industry even though it remains very much in its infancy, currently counting for less that 1% of GDP. He was followed by aides from exploration companies like Symbol Base Metals, Kogi Iron and Comet Resources who said Nigeria's country risk had been largely exaggerated abroad.

The main stumbling block, however, is that despite its mining potential Nigeria has virtually no certified resources, leaving it a blank spot on the world geological map.

Fayemi is expected to make special efforts to revive Nigeria's iron and steel industry, a task that has long bedeviled previous mines ministers.

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Thanks Chiller

Interesting article and what it does is highlight how as far as Nigeria is concerned Kogi is ahead of the pack regarding exploiting its natural resources.

Kogi have done all the right things regarding JORC compliant reserves, environmental impact studies as well as providing local employment.

Im sure Fayemi will use Kogi as an example to the rest of the industry and thus I expect his "special efforts" will be of benefit to us.

KFE Price at posting: 2.0¢ Sentiment: None Disclosure: Held
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