Standard Ore Company Limited has announced the allocation of an initial one million dry metric ton units (DMTU) of iron ore per year for rail transport through a recent partnership with the Nigerian Railway Corporation (NRC).
The collaboration, the company said, aims to enhance the efficiency of iron ore haulage in Nigeria, with plans to double its annual iron ore production to two million DMTU by 2028.
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“Standard Ore actively manages over 13 mineral properties across Nigeria, encompassing Lead-Zinc, Gold, Silver, Lithium, Aluminium, Rutile, Palladium, and Iron Ore. With combined recoverable metal reserves exceeding $10 billion at current spot prices, the company plays a vital role in the nation’s mining sector,” it said in a statement.
It added that the recent partnership with the NRC is designed to provide a reliable and cost-effective transportation solution for Standard Ore’s expanding iron ore production.
It added, “By securing a stable logistics framework, Standard Ore aims to enhance its competitiveness in the global market. Standard Ore’s decision to integrate rail haulage reflects its commitment to investing in infrastructure and sustainable logistics. The company recognises that efficient transportation is essential for scaling operations and meeting rising global demand for iron ore and steel. This strategic initiative not only streamlines operations but also positions Standard Ore as a leader in the mining sector of Nigeria.”
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