Nigeria govt. moves to deepens investment in Gold mining

Nigeria deepens investment in Gold mining

The Federal government has further deepens investment into the mining of Gold across the country.

Gold Reserves in Nigeria remained unchanged at 21.46 tonnes in the first quarter of 2021 from 21.46tonnes in the fourth quarter of 2020.

Nigeria deepens investment in Gold mining

According to the Governor of Osun State, Adegboyega Oyetola, gold mining will assume the position of crude oil in the economy of the state in the near future.

The Governor in a forum stated that his administration was taking mining activities from artisanal to corporate level, with the involvement of private sector players coming for exploration and export.

Osun State is known for large deposits of minerals, including gold, lead, zinc, quartz, feldspar and several precious metals.

The governor said that apart from current efforts of his administration to achieve mining sufficiency, Osun was a beneficiary of the presidential initiative on mining.

“Give us a few years to come, gold will be our own oil in Osun State. Our state will be known for major supply of gold in Nigeria and around the world.’’

Oyetola named a Canadian firm, known as Badger Mines as being already on ground, while the process of signing a Memorandum of Understanding (MOU) with another unnamed firm was underway.

“We are working with responsible miners. The two Canadian firms are doing pretty well and I believe that in no distant future we will be able to harvest a lot of our gold and refine them.

“I can talk about Badger Mines while the second one is still doing the MOU but the first one is already out there doing exploration and the result has been so far, so good.

“Don’t forget that we also have the Segilola Gold Project, which has established a refinery for gold in Osun State. It is a state government initiative too.

“We are also collaborating with the Federal Government on mining.

“Our state is one of the two states, along with Kebbi State, selected as pilot states for the Presidential Artisanal Gold Mining Development Initiative (PAGMI).

“So, the intention is to actually encourage our youths to go into mining by giving them skills and some supports, instead of the usual diggers and things like such that they use excavators.

“The problem I have with that is the question of remediation. They dig but they don’t remediate. That is not good enough. They end up destroying our environment.

‘’You don’t destroy the environment and leave it like that.

“The ground they are digging is supposed to be for farming. So, if you don’t remediate, over time you may have serious issue of environmental degradation like you had in the Niger Delta in those days.

“In whatever partnership we are doing with people, we take the issue of environment serious. We need responsible firms that will do remediation and not destroy our environment in the name of mining.’’

About Gold deposits in Nigeria 

Gold deposits are found in Northern Nigeria, most prominently near Maru, Anka, Malele, Tsohon Birnin Gwari-Kwaga, Gurmana, Bin Yauri, Okolom-Dogondaji, and Iperindo in Osun state. Gold production began in 1913 and peaked in the 1930s.


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