Standard Ore partners NRC for iron ore haulage

In a move to bolster its logistics and operational capabilities, Standard Ore Company Ltd. has announced the allocation of an initial one million dry metric tonne units (DMTU) of iron ore per year, for rail transport through a recent partnership with the Nigerian Railway Corporation (NRC).

This collaboration aimed to enhance the efficiency of iron ore haulage in Nigeria, with plans to double their yearly iron ore production to two million DMTU by 2028, as per the agreed wagon allotment granted by the NRC to Standard Ore on the country’s Standard Gauge railway network.

Standard Ore actively manages over 13 mineral properties across Nigeria, encompassing lead-zinc, gold, silver, lithium, aluminum, 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.

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. 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 the 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.