Iron Ore: FG Can Generate $280bn From Sector Annually – Group - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 2
October 11, 2019
The National Chairman, Nigerian Institute ofMetallurgical, Mining and Materials Engineers, Ayo Adeyemo, says the FederalGovernment can generate 280 billion dollars from the country’s iron orereserves.
He also said government could generate 12 billiondollars from the country’s lead reserve annually.
Adeyemo, who said this in Abuja at his investitureas the 10th national chairman of the institute, added that this was aside otherminerals, like coal, gold, tantalites and cassiterite.
He said the estimated deposits of iron ore stood atthree billion tonnes, coal at three billion tonnes while lead and zinc stood 10million tonnes.
This, he added, was according to the 2018 report ofgeology and mineral resources of Nigeria and their uses.
He added that the Ajaokuta Steel Mill on completionwould be able to generate 15,000 direct jobs and 500,000 indirect jobs in theupstream and downstream sector.