CASE STUDY : INVESTMENT IN IRON ORE PROJECT, LOKOJA, KOGI STATE, NIGERIA
BACKGROUND
- Australian mining investor with extensive iron ore experience internationally invited to invest in an emerging iron ore resource in Kogi, Nigeria
King’s Palace, Lokoja, Kogi, Nigeria - Historical steel production facility (Ajaokuta – Russian built, old technology) located close to potential resource with possibility to offtake any local resource subject to investment in new technology
- Provisional support from the local ruler (traditional King) but with caveats as to division of shareholding between the Kogi State leadership and the investor
CLIENT REQUIREMENTS
- Reconnaissance of the project site in order to prepare a pre-investment Risk analysis
- Escort an expatriate technical team and investor group to site to determine the ease of access, ownership of tenants, quality of resource and level of national and Regional Government support offered
- Identification of stakeholders
- Assessment of security threats regionally and locally
PROJECT OUTCOMES
- Successful deployment of technical staff to Nigeria through Lagos and safe onward domestic movement to Lokoja, Kogi to assess the investment potential.
- Confirmation of the multiple concession boundaries and a clearer identification of concession holders
- Liaison established with the King and his eldest son (potential stakeholders in the project)
- Assessment of security threat prepared and presented to client for investment consideration