Nigeria's Mining Cadastre Office granted Kogi Iron Ltd.'s subsidiary KCM Mining Ltd mining lease No. 29796, the company said Dec. 17.
This is the fourth iron ore mining lease granted to Kogi Iron in Nigeria, as the company moves toward a planned feasibility study in 2020 on a fully integrated cast steel billet project.
The new mining lease permit grants the company the right to develop and operate a mine for a period of 25 years, and is renewable.
The permit covers 15.25 square kilometers in the northeast part of the Agbaja Plateau in the Kogi State.
KCM Mining now holds a 100% stake in mining leases ML 24606, ML 24607, ML 25376 and ML 29796, and retains exploration license EL 28784.
In January, the company announced that it received the mining license for its Agbaja iron ore project in Nigeria.