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Dangote Group & 6 Foreign Companies to Begin Mining Coal, Gold and other Minerals this Year

NAN

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Aliko Dangote - Bloomberg Billionaires  Index - January 2014 - BellaNaija

The Nigeria Mining Cadastre Office (MCO) says that Dangote Group and six foreign companies are currently raising funds from the capital market to begin full-scale mining this year.

Mohammed Amate, the Director-General of the office, in an interview with the News Agency of Nigeria (NAN) in Abuja listed the minerals as gold, coal, iron-ore and lead/zinc.

He said it had become imperative for the Dangote Group and foreign companies to raise funds from the capital market for the mining since the projects are capital-intensive.

Amate named the foreign companies as Kogi Mines Ltd, Segilola Nig. Ltd, Mines Geotechniques Nig. Ltd, Northern Numero Resources Ltd, West African Polaris Investment Ltd as well as Tongyi allied and Mineral Services Ltd.

He said that the companies had completed their exploration exercises and delineated the deposits, while obtaining mining leases (licences) to mine gold and other minerals in the country this year.

“Indeed, according to the reports we have received, most of the companies have commenced development and this will eventually lead to actual mining. No financial institution will be willing to fund any mining operation until the company carries out adequate bankable feasibility studies, under Joint Ore Reserve Committee specifications recognised internationally,” he said.

He said Kogi Mines, an Australian mining firm, would mine iron at Agbaja in Kogi, while Segilola Nig. Ltd would mine gold at the Iperindo axis of the IIesha gold schist belt in Osun.

Geotechniques Nig. Ltd and Northern Numero Resources Ltd, both Australian companies, would mine gold in Kebbi, while Dangote Group would mine coal in Kogi and Benue states.

The West African Polaris Investment Ltd, a Chinese company, will mine tin and columbite in Nasarawa state and the Tongyi allied and Mineral Services Ltd, another Chinese company, will mine lead/zinc in Wasa, Plateau state.

NAN

The News Agency of Nigeria (NAN) was established by the Federal Government of Nigeria in May 1976 to gather and distribute news on Nigeria and cover events of interest to Nigeria at the international level for the benefit of the Nigerian Media and the Public.

12 Comments

  1. Trendyshopper

    June 26, 2015 at 10:39 am

    Kogi Mines Ltd, Geotechniques Nig. Ltd, and Segilola Nig Ltd are foreign companies? Hmmm…..

  2. EllesarisEllendil

    June 26, 2015 at 11:20 am

    Can the Economists here educate me as to why other Governments work to stop monopolies while ours seems to be turning a blind eye?

  3. Taipan

    June 26, 2015 at 11:34 am

    BRAVO!!! at least this will diversify our economy

  4. cindy

    June 26, 2015 at 1:23 pm

    Kogi for iron and coal. I just hope geberates IGR for my state cos we are poor mehn. Don’t just exploit us please.

    • cindy

      June 26, 2015 at 1:24 pm

      …it generates…

  5. Seyi

    June 26, 2015 at 2:44 pm

    Mining can be great for the economy, however ethics needs to be taken into consideration. Staff, the people who are actually doing the mining, should get a fair pair, there should be no chemical leaks, which has been the case in many mines. The surrounding environment should be top priority, as any leakage or damage caused as a result of the mines, will not only affect the environment, but also the people and livestock in the areas.

  6. Ella

    June 26, 2015 at 2:45 pm

    Hope for Osun state.

  7. ada

    June 26, 2015 at 2:50 pm

    please why cant another group do this?
    why dangote?

    • jtyzmotivator

      June 26, 2015 at 7:58 pm

      Probably the only the group that can cope with the funding and all difficulties involved. Let’s be positive and realistic, how many Nigerian business men/magnates are ready to take the risk. From the post, lots especially financials is involved. I understand our fear of monopoly, but let’s be positive and hopeful. I don’t think anyone is ready to dare first. My honest thought…

  8. Truth

    June 26, 2015 at 3:04 pm

    Other regions can take a page from another region that does not allow Northerners to take their resources anyhow. If I were incharge. SS resources will belong to SS, SE resources will go to SE, SW to SW and so on. Let everyone benefit from what they have. We all know a parasitic region that contributes little but takes plenty. Let us go back to autonomous/ regional form of governance.

    • nnenne

      June 26, 2015 at 9:53 pm

      @ Truth …My thoughts exactly!

  9. Prince Dare

    August 25, 2015 at 2:38 pm

    iperindo is not an axis of Ilesa ,,,,,,,,Iperindo is a town on her own……. Correction to Sigilola Gold minning company,,,

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