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Nigeria plans to produce first batch of iron ore in 2012
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Mr. Olusegun Olutoyin Aganga, the Nigerian Minister of Finance said that the iron ore assets in Itakpe mine were around 3 billion tons and the preliminary annual output would be at 2 million tons.
Furthermore, it’s expected that the production in the next five years would reach 20 million tons. Also, the Itakpe mine will help to attract more investors.
At present, 80% of the country’s incomes come from crude oil and natural gas.
Mr. Olusegun Olutoyin Aganga said that the government expected to reduce the reliance on crude oil and natural gas by realizing diversified development.
Also, he expected that the country will receive more incomes from iron ore after commissioning Itakpe mine next year.
News Date
9/6/2011 9:36:53 AM
reported by
Echo Huo
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