Nigeria sees first iron ore output in 2012
Reuters reports Nigeria expects the first significant iron ore production next year from its 3 billion tonne Itakpe iron ore deposits as it looks to reduce its dependence on oil and gas revenues, a government official said Friday.
The West African country, which gets nearly 80% of its revenues from oil and gas production, will start receiving revenue from iron ore production next year, Olusegun Aganga, minister of trade and investment, told Reuters at a mining conference in Perth, Australia.
Reuters reports Aganga said initial production from the mine is expected to be 2 million tonnes a year, ramping up to 20 million tonnes annually in five years.
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2 Comments
nichiren nana kwame Asiedu
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Awudu Zakari
Am very happy africa is contributing to world,but our leaders should let we the ground roots benefit majority