FG acquires N4bn equipment for Itakpe iron firm

Ayodele Adesanmi, Abuja - 31.12.2007

The National Iron Ore Mining Company, Itakpe in Kogi State may soon become operational with the delivery of over N4 billion worth of equipment for the production of iron ore concentrates.

The Minister of State, Mines and Steel Development, Alhaji Ahmed Mohammed Gusau, who received the equipment, said that it comprised machinery, spare parts and consumables.

He said the arrival of the equipment was an indication that the super concentrate plant project was ready to supply the required iron ore concentrates for the development of the steel sector in the country.

According to him, “we are doing everything humanly possible to ensure that National Iron Ore Mining Company starts production and we are hopeful that by the time when the new equipment were installed, the company would produce 2.5 million metric tonnes of iron ore concentrates per annum.”

The Managing Director of the company handling the project, Mr David Osunde, commended the Federal Government for its intervention which facilitated the shipment of the equipment to Nigeria.

He said the import duty exemption and Value Added Tax (VAT) waiver which was demanded for in the last six years was only granted two months ago and was responsible for the delay in the arrival of the equipment.