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Multiverse Mining and Exploration Plc, the only listed mining company on the Nigeria Stock Exchange, is investing $100m in Nasarawa State.
The Managing Director of the company, Mr. Ayedun Fasina, made this known when he led a delegation on a courtesy call on Nasarawa State Governor, Abdullahi Sule, on Tuesday. Fasina hinted that the company, which has been operating for over ten years in the state, had already invested over $70m and concluded plans to install a floatation plant worth $100m, in response to the call by the Federal Government for investors to add value to mineral resources before export… More details through: https://punchng.com/mining-firm-to-invest-100m-in-nasarawa/
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The Federal Government has intensified efforts at ensuring that sections of the Ajaokuta Steel Company Limited start production before the end of 2019, Minister of Mines and Steel Development, Olamilekan Adegbite, has said.
Adegbite said this at a meeting with Russian Ambassador, Alexey Shebarshir, in Abuja on Tuesday. Russia is ready to partner the Federal Government to revamp the ailing company, the Russian envoy declared at the meeting… More details through: https://punchng.com/russia-to-help-nigeria-revamp-ajaokuta-steel/ A CHINESE company and a subsidiary of Globelink China Investment Group, Hudson Mining Limited, is set to invest $30 million in solid mineral processing in Nigeria. The company decided to invest an initial $3 million and subsequently increase it to $30 million during the first phase of the project. The Chief Executive Officer (CEO) of the company, Mr Solomon Cai, explained that the company intends to invest in tin and columbine in Jos, the Plateau State capital…
More details through: https://thenationonlineng.net/chinese-firm-to-invest-30m-in-mineral-processing/ Following the visit of President Muhammadu Buhari to Dubai, the United Arab Emirates (UAE) recently, Nigeria and Dubai have agreed to deepen their cooperation, especially as it concerns trade in gold.
At a subsequent meeting between Nigeria’s Minister of State for Mines and Steel Development, Abubakar Bawa Bwari, and the UAE Ministry of Economy’s Abdullah Al Saleh on the sideline of the Dubai Annual Investment Meeting, the ministers resolved to forge a closer cooperation considering the quantum of gold traded between both countries… More details through: https://www.dailytrust.com.ng/nigeria-uae-to-scale-up-gold-trade.html Nigeria produced a total of 55.85 million tonnes of solid minerals in the 2018 fiscal year, data released by the National Bureau of Statistics have revealed. The NBS, in its mining and quarrying data report, which was released on Thursday, said Ogun State produced the highest tonnes of solid minerals among the 36 states and the Federal Capital Territory.
The report stated that Ogun State produced 16.49 million tonnes of solid minerals… More details through: https://punchng.com/nigeria-produces-55-85-million-tons-of-solid-minerals-nbs/ Nigeria, which has struggled but failed to produce steel locally for about 40 years, may be inching its way closer to realising this dream, as a local company has announced its plans to invest into the industry…
More details through: https://businessday.ng/real-sector/article/nigerias-hope-to-produce-steel-brightens-as-anrml-set-to-invest-600m-in-local-plant/ The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), and stakeholders in the mining industry have sought increased investments in Nigeria’s mining sector.
Indeed, the stakeholders lamented that despite the huge potential of the sector, it is yet to be given the attention it deserves to change the narrative of the Nigerian economy, adding that the volume of iron ore alone can generate over $60 billion on yearly basis if well managed… More details through: https://guardian.ng/business-services/nigerias-iron-ore-can-generate-60-billion-yearly/ Nigeria iron ore reserve stands at 2,542 million tonnes, the Minister of State for Mines and Steel Development Abubakar Bwari has disclosed. He said that this is at an average quality of 36 percent iron content. Bwari stated that Over 95 percent of the current steel production in Nigeria is from scrap metal and the government is focused on developing the upstream mining sector…
More details through: http://thenationonlineng.net/nigerian-ore-reserve-hits-2542-million-tonnes/ The Federal Government issued more than 7,000 licenses in the last eight years out of which only 4,500 subsist, the Nigerian Mining Cadastre Office has said.
The outgoing Director-General of NMCO, Mr Mohammed Amate, disclosed this at an interview with journalists during an event to handover to a newly appointed Director-General in Abuja on Friday. Amate also advised the Federal Government to pay attention to the development of minerals that would occupy the attention of the global economy in the nearest future as the world transits from fossil to electric vehicles… More details through: https://punchng.com/fg-issues-7000-mining-licences-in-eight-years-revokes-2500/ A Nigerian firm, Kian Smith Trade & Co Limited, on Thursday, broke ground on the nation’s first gold refinery, saying the project would be completed by the end of the first half of next year. It said the refinery would start with a production capacity of three tonnes per month of 99.99 per cent gold and one ton per month production of 99.99 per cent silver…
More details through: https://punchng.com/nigerias-first-gold-refinery-to-be-completed-june-2019/ |
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