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
Nigeria, Australia Partner on Mining, Trade, and Agriculture
A high-level Australian delegation led by Marc Innes-Brown has engaged Nigeria in discussions aimed at expanding bilateral collaboration in key sectors such as trade, mining, agriculture, and food security. The delegation, led by Innes-Brown, who serves as the First Assistant Secretary, Middle East and Africa Division, Australian Department of Foreign Affairs and Trade, visited Nigeria
President Tinubu Extends Shinkafi’s Tenure as SMDF Executive Secretary
President Bola Ahmed Tinubu has renewed the appointment of Fatima Umaru Shinkafi as the Executive Secretary of the Solid Minerals Development Fund (SMDF). In a statement released by Presidential Spokesperson Bayo Onanuga, key appointments were also announced for the National Universities Commission (NUC), the Nigerian Educational Research and Development Council (NERDC), and the New Partnership
China Discovers World’s Largest Underground Gold Deposit Worth Over $80 Billion
China has identified the world’s largest underground gold deposit, valued at over $80 billion. The discovery, located at the Wangu goldfield in Pingjiang County, Hunan Province, could potentially yield more than 1,000 tonnes of gold, according to the Geological Bureau of Hunan. The site contains 40 gold veins—long, narrow channels of gold—at depths of around
Ajaokuta Steel Company to Begin Operations in December
The Minister of Steel Development, Shuaib Abubakar Audu, has announced that Ajaokuta Steel Company Limited will commence operations before 2025. He made this assurance during the Ninth Nigeria Mining Week held in Abuja. Addressing the economic strain caused by importing steel products—costing Nigeria over $4 billion annually—Audu highlighted the government’s plan to privatise Ajaokuta Steel
Jumabee Named Ambassador for Leading Nigerian Mining Firm, JODIP Gold
Nigerian music sensation and Special Adviser to Kogi State Governor Ahmed Usman Ododo, Jumabee, has signed a major ambassadorial deal with JODIP Gold Limited, marking a significant collaboration between the entertainment and mining sectors. This multi-million-naira partnership highlights Jumabee as the face of a company transforming the solid mineral exploration, agriculture, and real estate industries
Nigeria’s Ministry of Steel Development Announces Boot-Camp Training
The Ministry of Steel Development has launched an intensive one-month boot-camp training programme aimed at empowering Nigerian youths with advanced technical skills. According to a press release signed by the Permanent Secretary, Dr. Chris Osa Isokpunwu, the programme will focus on three key areas: Benefits of the Programme include expert training and mentorship, equipment support
10 Takeaways from the African Gold and Gemstone Conference & Exhibition 2024
This year’s Gold Gemstone Jewellery Exhibition and Conference held on the 26-28th of September at the Pan African Centre, Victoria Island Lagos. For Three days the Conference hosted panel discussions, innovative discourses surrounding sustainable Mining practices, the gemstone industry and fusion of jewellery and fashion. Here are ten takeaways from the conference Economic Potential :To
Nigeria’s Mica Industry: Processing, Value and Global Potential
Nigeria’s mica industry holds immense potential for growth, yet it remains underutilised. Mica, a versatile mineral with various industrial applications, can be a key driver of economic prosperity if processed efficiently and marketed strategically. This article explores the current state of mica processing in Nigeria, the challenges facing the industry, and the opportunities for value
Nigeria to Tap into Deep Seabed for Solid Mineral Extraction
The Federal Government is set to explore deep seabed mining to capitalise on the vast resources of the blue economy and stimulate economic growth This was revealed by the Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola, at a stakeholders’ sensitisation workshop on “Deep Seabed Activities” held Wednesday in Abuja. Represented by the ministry’s