Oluchi Chibuzor

In a move to bolster its logistics and operational capabilities, Standard Ore Company Limited has announced the allocation of an initial 1 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 their annual Iron Ore production to 2 million DMTU by 2028, “as per the agreed wagon allotment granted by the NRC to Standard Ore on the countries Standard Gauge railway network.”

“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 recognizes 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.

“The announcement of this rail haulage partnership showcases Standard Ore’s growth trajectory and long-term vision. Current and prospective buyers of Standard Ore’s bulk products will benefit from this enhanced logistical framework. The company’s strategy aims to meet the demands of an evolving market and to secure its place as a key supplier in the industry.

“With this new partnership, Standard Ore Company Limited not only strengthens its operational foundation but also contributes to the revitalization of the Nigerian railway system, promoting a sustainable model for bulk minerals logistics in the region. As the company moves toward its targets, it remains committed to leveraging its extensive mineral portfolio for long-term growth and success.”