A Luxembourg company has signed an Expression of Interest agreement with the Nigerian Government to invest in gold mining in Nigeria.
The Federal Government, on Saturday, announced the signing of an Expression of Interest Agreement with La Mancha, a Luxembourg-incorporated private gold development & mining company to begin gold mining operations in Nigeria.
The announcement was contained in a statement by the Federal Government.
Dr Uchechukwu Sampson Ogah, Minister of State for Mines and Steel, signed the deal on behalf of Nigeria with the Chairman of La Mancha, Naguib Sawiris, in Cairo, Egypt.
The Chairman, La Mancha, Naguib Sawiris, disclosed that the signing of the document was its way of formally expressing the company’s interest to begin earnest operations in Nigeria.
He stated that “La Mancha was continually looking at new opportunities to expand its investment in Gold Mining across Africa, adding that Nigeria possessed enough gold deposits to attract investment.”
Dr Ogah said the partnership with La Mancha and other mining companies including Endeavour Mining, Golden Star Resources, and with a market capital in excess of US$10bn will benefit Nigeria immensely.
“Our ultimate goal is to attract investors with the technical and financial competence to invest in our solid minerals sector, from detailed exploration to mining, development, processing and refining to producing standard ores in Nigeria,” Ogah said. (Nairametrics)
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