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“Trust No One Blindly”: Veteran Gold Trader Warns of Growing Fake Jewellery Scams

Usman Muhammad Hamidu, a seasoned gold vendor with over three decades of experience, has cautioned the public to exercise extreme care when buying gold jewellery, warning that the market is flooded with deceptive practices and counterfeit products. In an interview with Nigerian Mining, Hamidu stressed that knowledge and caution are the buyer’s best defence in

Smart Investment Opportunities in Gold and Gemstones

In an era of financial uncertainty, gold and jewellery are emerging as viable investment options, according to Uzoamaka Ezeugwa, Creative Director of Uzo Jewelry. Speaking on News Central TV’s Business Edge on Wednesday, March 26, 2025, Ezeugwa highlighted the increasing awareness among buyers regarding the investment potential of jewellery. “It’s 50/50,” she said. “At the

UAE’s Ambrosia Pays $500million to Allied Gold for Mali Mine

Canadian mining firm Allied Gold has sold a 50% stake to UAE-based investment fund Ambrosia Investment Holding in a $500 million deal. The deal includes $250 million in upfront cash, intended to provide Allied with funding to accelerate operations at the Sadiola Mine in Mali and the Kurmuk Mine in Ethiopia. The collaboration will establish

Mali Seizes $290 Million in Gold from Canadian Mine

Malian soldiers stormed one of the country’s largest gold mines in Loulo-Gounkoto complex by helicopter, seizing three tonnes of gold on the orders of the military government. The operation at the complex—80% owned by Canadian firm Barrick Gold, marks the latest move by the military-led governments of Mali, Burkina Faso, and Niger to assert greater

Gold Price Hits Fresh Record High, Climbs Above $2700 Mark

Gold price surged beyond $2,700 an ounce for the first time, driven by growing concerns over escalating Middle East conflicts and the increasingly unpredictable US election. Investors sought refuge in the precious metal as global instability intensified. Bullion climbed by as much as 0.7% to reach $2,711.99 per ounce, breaking the previous record set the

Osun State Shuts Down Segilola Resources Over Alleged Tax Violations

The Osun State Government, on Monday, September 30, 2024, sealed the business premises of Segilola Resources Operating Limited after obtaining a court order. The order was issued in response to allegations of tax violations and the company’s failure to fully disclose employees involved in its operations, both directly and indirectly. Additionally, Segilola Resources was accused

Thor Exploration Flagship Project in Osun State

The Segilola Gold Project, which produces gold, is the company’s flagship project. It is situated in Osun State, Nigeria, about 120 kilometres northeast of Lagos. The Segilola Gold Mine has already produced for two full years: 98,006 ounces of gold were produced in the calendar year 2022, and 84,609 ounces in the year 2023. In

Women Miners Speak on Overcoming Mining Challenges in Nigeria

Africa holds vast deposits of precious minerals, yet the continent struggles to fully benefit from its mineral wealth due to significant challenges. These issues were highlighted during the 3rd Annual Gold and Gemstone Conference, held from 26-28 September 2024 in Lagos, Nigeria. The event was organised by Women in Mining in Nigeria (WIMIN), a non-governmental

Underage Children Flock to Zamfara’s Gold Fields

Despite a government ban on illegal mining activities, youths and underage children in Zamfara State continue to engage in artisanal gold mining. This practice has become prevalent due to the high unemployment rates and economic challenges facing the region. According to a recent report, many young people are turning to gold mining as a means