British Firm, Aurelia Set To Invest $100m In Gold Mining In Nigeria

Posted on July 21, 2021

A British gold mining firm, Aurelia Mining Company Ltd, is to invest $100 million in gold production in Nigeria.

Speaking during a visit to the Minister of Mines and Steel Development, Arc Olamilekan Adegbite, the company’s director, Julian Hammond, said they see Nigeria becoming a powerhouse in gold production in Western Africa and aspiring to diversify the economy away from oil and gas and have come to key into the country’s abundant mineral potentials.

“The company will commence a small mining operation with five to US$10m first,” and if the gold deposit is as big as expected, the company will invest about US$100m for a period of 10 to 15 years, he said.

Responding, the Minister said Canadian firm is already scheduled to start gold exploration in Ogun State soon.

“In the next couple of weeks, we will start gold production from Illesha; it was a little bit delayed because of the COVID-19.”

The Minister also said that it is the kind of success story Nigeria was looking forward to from Aurelia at the end of the day. He said the aggressive investment driving campaign embarked upon by the ministry in the recent past have started yielding results.

“I was in South Africa, London, Toronto among others, and with all these we were able to convince investors, to say, look, Nigeria is a place to come to” he said.

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Despite the rowdiness and hostile environment around Oba Akenzua Cultural Centre, the venue of... Continue
A British gold mining firm, Aurelia Mining Company Ltd, is to invest $100 million... Continue
CYRIACUS IZUEKWE Police Detectives from State Criminal Investigation, SCID, Panti Yaba, have arrested a... Continue
Captain of the Super Falcons of Nigeria, Asisat Oshoala, who is the current reigning... Continue
CHUKA UBAH Following media buzz as a result of events during the burial ceremony... Continue
Following the conclusion of the open call auditions in May 2021, all is now... Continue
SUNDAY AKINTOYE Former Coach of Messiah Football Club, Anthony Ushurhe has expressed satisfaction with... Continue
IKPO IGBINOBA, just back from Ibadan  At 1.9 metres, (6 feet 3inches), Coach Toyin... Continue
The Oyo State Deputy Governor, Engr Rauf Olaniyan, has urged citizens and residents of... Continue
SUNDAY AKINTOYE Chairman Technical Committee of Lagos State Football Association, Dotun Coker has congratulated... Continue
Lagos State House of Assembly’s Chairman House Committee on Lands, Hon. Adedamola Richard Kasunmu,... Continue

Twitter

Sponsored

Access Bank