erico2k2:

Using teh American factor as per Oil holds no water here, cos the only reason why Americans leave their own reserves is simple, its cheaper to import than to explore, ie their own Oil is far more expensive to extract. The same cant be said with Iron ore.If you look back just now ate share gas and oil it crashed the price of Oil just cos they found a new and cheaper way to extract it!.

if we produce our own steel it would be far more expensive than importing from China ...hope u get it now

erico2k2:

you are wrong, we have the raw materials so its not dead.we cn support and suppply the local Economy.we need more steel in Nigeria like kilode

it's cheaper to import than produce ...why not import cheap steel n use it to build what ever we want

Igbochief001:

it's cheaper to import than produce ...why not import cheap steel n use it to build what ever we want

cos we have raw materials at close proximity we can actually manufacture cheap and small plus local.Metal process requires huge power, once this is actualised we are good to go.

Igbochief001:

if we produce our own steel it would be far more expensive than importing from China ...hope u get it now

Nop, it's like saying refining our own Oil is more expensive than importing!or importing timber is cheaper than producing ours

erico2k2:

Nop, it's like saying refining our own Oil is more expensive than importing!or importing timber is cheaper than producing ours

lol u don't know we import most timber in Nigerian market ? lol oga there is what's called comparative advantage we don't have it in steel

I'm done talking

hupo:


Good development. OP, it is "metallurgical and not what is spelt therein.

Thank you o my brother.

This is what I wrote in my topic: “KAM Steel Acquires N60bn Lebanese Company, Targets 10,000 Jobs“.

But the Mod changed it to the topic they wanted and that spelling is what they spelt themselves.

It might be typo too tho.

erico2k2:

cos we have raw materials at close proximity we can actually manufacture cheap and small plus local.Metal process requires huge power, once this is actualised we are good to go.

we are better than countries like Australia , usa , Canada , India , Iran , Russia who could not produce as cheap as china ?

Igbochief001:

lol u don't know we import most timber in Nigerian market ? lol oga there is what's called comparative advantage we don't have it in steel

I'm done talking

U def dnt live where timber is sawn and cleaned, Im from the SS,go to places like Warri, Sapele,Benin, Ondo and lagos and see where timber is exported.U def have no clue about timber.

Igbochief001:

we are better than countries like Australia , usa , Canada , India , Iran , Russia who could not produce as cheap as china ?

They do not have the cheap deposits of ore like Nigeria, UK, German. We are lucky to have easy to extract ore just as our Oil is easy to refine! There is more than meets the ete, market strategy just doesn't work in these unique products of the Earth. This is not your ordinary commodity market. Ask urself this, Y is the Chinese shifting into Africa? even those they have the 1st advantage of having the highest deposit of earth rare minerals?

erico2k2:

They do not have the cheap deposits of ore like Nigeria, UK, German. We are lucky to have easy to extract ore just as our Oil is easy to refine! There is more than meets the ete, market strategy just doesn't work in these unique products of the Earth. This is not your ordinary commodity market. Ask urself this, Y is the Chinese shifting into Africa? even those they have the 1st advantage of having the highest deposit of earth rare minerals?

lol our ore that's medium grade over 80% ...Nigerians to like to lie to ourself

erico2k2:

U def dnt live where timber is sawn and cleaned, Im from the SS,go to places like Warri, Sapele,Benin, Ondo and lagos and see where timber is exported.U def have no clue about timber.

oga those timber come from Cameron and Congo ...I grew up in ph ...na my people mbiase people for garbon dey run am

free Bros no worry

Igbochief001:

oga those timber come from Cameron and Congo ...I grew up in ph ...na my people mbiase people for garbon dey run am

free Bros no worry

See you nah,U grew up in PH, there is no Timber in PH, come to Sapele,or benin or Ondo where we have land saw mill, Im based in PH wen in 9ja but grew up in sapele.Why do you think we had the biggest Timber factory in sapele back in the days, fyi there is a timber named after sapele, google it, its called sapele wood.

Igbochief001:

lol our ore that's medium grade over 80% ...Nigerians to like to lie to ourself

u r not in the know on this one accept it.u cant give what U dnt have!

LegendHero:

https://www.independent.ng/kam-steel-acquires-n60bn-lebanese-company-targets-10000-jobs/

You seem to know this company well. pls, I'd like to know if they use coal in their operations, maybe to heat up their furnaces. My firm is in the coal business. I'd like to explore the prospects of supplying them coal

erico2k2:

u r not in the know on this one accept it.u cant give what U dnt have!

can u rest now ?

Igbochief001:

can u rest now ?

Erm what does ur Attachment prove?
Rich Ore has more than 5050 iron, what is wrong with that?Plus you are talking one region

There are over 3 billion tones of iron ore found in kogi, Enugu, Niger, Zamfara and Kaduna States. Iron is currently being mined at Itakpe (Kogi State), which is more or less at the centre of the region of crystalline iron deposits
Like I said B4, u r not in the Know

erico2k2:

Erm what does ur Attachment prove?
Rich Ore has more than 5050 iron, what is wrong with that?Plus you are talking one region

There are over 3 billion tones of iron ore found in kogi, Enugu, Niger, Zamfara and Kaduna States. Iron is currently being mined at Itakpe (Kogi State), which is more or less at the centre of the region of crystalline iron deposits
Like I said B4, u r not in the Know

3 billion that's China's 3 year production ...bro give up we don't have comparative advantage in steel

Masterclass32:


You seem to know this company well. pls, I'd like to know if they use coal in their operations, maybe to heat up their furnaces. My firm is in the coal business. I'd like to explore the prospects of supplying them coal

I am not totally sure about that. Don't know the company that much to be honest.

You can go to their wesbite here to know more about them and contact them directly for your question:

https://kamholding.net/

Igbochief001:

3 billion that's China's 3 year production ...bro give up we don't have comparative advantage in steel

U missed the point, its all about self-sufficiency, not export, china has up to 2 billion people and vast landmass as big as 60% of Africa if I'm not wrong. the highest deposit of ore in the Eu is in Germany and it's not even up to 10% of the output of China, let's be guided in our arguments pls.look at the Uk, steel is preferred to wood and in some cases cheaper than wood. Nobody is arguing that china does not have an edge but you can see the rapid production lines they have, human labour is cheap and rapid, I have been to china like 4 times in the past for imports, these guys work like ants however recently their own economy is changing from export target market to local and a consumer economy as more and more of them turn to middle class!

erico2k2:

U missed the point, its all about self-sufficiency, not export, china has up to 2 billion people and vast landmass as big as 60% of Africa if I'm not wrong. the highest deposit of ore in the Eu is in Germany and it's not even up to 10% of the output of China, let's be guided in our arguments pls.look at the Uk, steel is preferred to wood and in some cases cheaper than wood. Nobody is arguing that china does not have an edge but you can see the rapid production lines they have, human labour is cheap and rapid, I have been to china like 4 times in the past for imports, these guys work like ants however recently their own economy is changing from export target market to local and a consumer economy as more and more of them turn to middle class!

self sufficiency even it means producing it at more expensive rate ?

it's like saying Nigeria can export rice lmao

I will like to work for this company

Igbochief001:

lol the world is now a global village ...a small country that focuses on their comparative advantage even if it's orange would make far more money than u

comparative advantage is the way to go ...America has the largest oil reserves but still import oil ...u think they are fools ?

Young man, you just shot yourself in the leg. As I said before, I am a practicing Geologist, so I can authoritatively say I have experience more than you in this area. Most of the oil reserves in the US are found within shale and not until recent that they had a break through via fracking. You will realise that the US has reduced oil importation drastically, even from Nigeria.

Why do you think the US government encourages fracking and not depend on the cheaper conventional oil from Nigeria and others but rather the US is accelerating oil production from the unconventional plays? The aim was to reduce the US dependence on Oil from other countries and hence aiming towards self sufficiency.

The US could have said that because Nigeria and Saudi Arabia have comperative advantages, they wouldn't bother to develop the more expensive fracking methods but rather continue to depend on oil from other countries?

Can you now see how you have shot yourself in the leg? Going to the university is not about cramming and racking your brains on numbers alone. you also need to understand how things work and when not to apply theories. Henceforth try and be pragmatic in your approach.

All they very best.

LegendHero:


I am not totally sure about that. Don't know the company that much to be honest.

You can go to their wesbite here to know more about them and contact them directly for your question:

https://kamholding.net/

Thanks bro.

Igbochief001:

self sufficiency even it means producing it at more expensive rate ?

it's like saying Nigeria can export rice lmao

we export timber, if we invest wisely we can export rice. the population of japan is not up to Nigeris, the export rice.We shy away from Agriculture and other stuff in Nigeria hence we are where we are today, look in the south 2020, no one has been able to farm cattle properly yet it's same south the Nothreners kill to bring their cattle to for raring, does that not teach you something, Just take for instance the fishing industry, once people mastered the art of breeding fish there are fewer people fishing in the wild these days!

geosegun:


Young man, you just shot yourself in the leg. As I said before, I am a practicing Geologist, so I can authoritatively say I have experience more than you in this area. Most of the oil reserves in the US are found within shale and not until recent that they had a break through via fracking. You will realise that the US has reduced oil importation drastically, even from Nigeria.

Why do you think the US government encourages fracking and not depend on the cheaper conventional oil from Nigeria and others but rather the US is accelerating oil production from the unconventional plays? The aim was to reduce the US dependence on Oil from other countries and hence aiming towards self sufficiency.

The US could have said that because Nigeria and Saudi Arabia have comperative advantages, they wouldn't bother to develop the more expensive fracking methods but rather continue to depend on oil from other countries?

Can you now see how you have shot yourself in the leg? Going to the university is not about cramming and racking your brains on numbers alone. you also need to understand how things work and when not to apply theories. Henceforth try and be pragmatic in your approach.

All they very best.

@ the bolded is what I was trying to explain to him, the availability and means of extracting raw materials plays a leading role in exploration and extraction.He needs to read the history of metals right from start age

He didn't tell you guys that he scraps vessels in Kirikiri and smelt them in his smelting plant for use as raw material.

erico2k2:

we export timber, if we invest wisely we can export rice. the population of japan is not up to Nigeris, the export rice.We shy away from Agriculture and other stuff in Nigeria hence we are where we are today, look in the south 2020, no one has been able to farm cattle properly yet it's same south the Nothreners kill to bring their cattle to for raring, does that not teach you something, Just take for instance the fishing industry, once people mastered the art of breeding fish there are fewer people fishing in the wild these days!

u want to export rice when u produce 2 ton per hectare while others produce 10 ...that's what's called comparative advantage ...obviously u don't get it

Igbochief001:

u want to export rice when u produce 2 ton per hectare while others produce 10 ...that's what's called comparative advantage ...obviously u don't get it

Im talking in the brighter future, if yu check growing rice ain't an issue but refining is the issue

erico2k2:

Im talking in the brighter future, if yu check growing rice ain't an issue but refining is the issue

I'm a rice farmer oga ..growing rice is a big issue ...we can't even control bed that can eat your whole farm in 6 hours

Bros read comparative advantage principle then come back

Igbochief001:

I'm a rice farmer oga ..growing rice is a big issue ...we can't even control bed that can eat your whole farm in 6 hours

Bros read comparative advantage principle then come back

how old are you?u just jumped into rice farming jst now cos we are talking rice,soon u would be an iron forger in DSC, 9ja shaa, its well
A rice farmer frm phc or abakaliki

erico2k2:

how old are you?u just jumped into rice farming jst now cos we are talking rice,soon u would be an iron forger in DSC, 9ja shaa, its well
A rice farmer frm phc or abakaliki

I'm 27 ...have invested in rice farm ...but we are disadvantaged ...untill we can develop good seeds imported rice go still flood market

I have other successful business I run ..so age is nothing

Igbochief001:

I'm 27 ...have invested in rice farm ...but we are disadvantaged ...untill we can develop good seeds imported rice go still flood market

I have other successful business I run ..so age is nothing

Well @ 27 I have been hustling abroad for few years, while ur view is myopic mine is broad cos Im seeing from afar where people believe every and anything is possible once you put ur mind into it. I have a whole bunch of friends who have gone back to 9ja to re-invest after their quest for initial capita and I must say they ain't doing bad, there are loads on Naira, check the Auto and property sections you will see them,
PS growing rice without mechanisation is just waste of time, U aint ready!this is where initial capital comes into play cos the 9ja I know, banks do not give no money people loans rather give loans to money people.