Nigeria Begins Its First Commercial Gold Mining In Osun State:

Commercial Gold Mining In Osun State:

A construction of Nigeria’s first large-scale commercial gold mine has begun in Osun State and this facility will start producing gold in 2021.

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According to the Federal Ministry of Mines and Steel Development, the facility reflects the Federal Government’s desire to make the mining sector the mainstay of the country’s economy.

Speaking to The Minister of Mines and Steel Development, Olamilekan Adegbite, who disclosed this at a ceremony for the commencement of Thor Exploration’s construction of the Segilola Gold Mine in Odo-Ijesha and Iperindo in Osun State.

He said the venture was a pioneering project in the Nigerian mining sector and commended the promoters of the facility.

Mr Adegbite maintained that the Federal Government was committed to supporting companies in the sector.

Meanwhile, the representative of the Governor of Osun State, oluwole oyebamiji who is the secretary to the state government, said, “Osun State Government is an ally in this project and we promise to give it every support to see it to fruition.”
The Managing Director, Thor Explorations, Segun Lawson, said when the gold mine would be completed in 2021, the company would process 650,000 tonnes of ore, with a target production of approximately 80,000 ounces per year.

Lawson said the gold mine would provide over 1,000 direct and indirect jobs for Nigerians, and will provide an additional stream of non-oil revenue and stimulate the inflow of foreign direct investment into the country’s mining sector.

According to the ministry, the Segilola Gold Project has been projected to start gold production in early 2021 and become Nigeria’s first large-scale commercial gold mine.

Image source: Pexels

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