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FG Reiterates Commitment to Mining Sector - Seemberg News

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FG Reiterates Commitment to Mining Sector

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The Minister of Mines and Steel Development, Arc. Olamilekan Adegbite has reiterated the federal government’s desire to make the mining sector the mainstay of the country’s economy.

Speaking at the ground breaking ceremony for the commencement of Thor Exploration’s construction of the Segilola Gold Mine in Odo-Ijesha and Iperindo in Osun State recently, the minister said the President Muhammadu Buhari Administration places emphasis on the development of the mining sector which is key to the growth of Nigeria’s economy.

Adegbite, who commended the promoters – Canadian listed gold developer, Thor Explorations and its wholly owned local subsidiary, Segilola Resources Operating Limited, hailed the venture as a pioneering project in the Nigerian Mining Sector. He assured that the federal government was committed to supporting companies in the sector.

Also speaking at the event, the Governor of Osun State, represented by the Secretary to the Osun State Government, Oluwole Oyebamiji, was quoted in a statement to have revealed that, “Osun State Government is an ally in this project and we promise to give it every support to see it to fruition”.

According to the Governor, his administration would deploy all the necessary resources to nurture the Segilola Gold Project to maturity in order to fulfill his administration’s promise to make Osun State the commercial hub of the South West, especially in solid minerals.

In his welcome address, the Managing Director and Chief Executive Officer (CEO) of Thor Explorations, Mr. Segun Lawson stated that the ceremony represented a significant milestone for the Company, Osun State and Nigeria and that when the Gold Mine is completed next year, the company would process 650,000 tonnes of ore, with a target production of approximately 80,000 ounces per year.

He said the project was the first of its kind in Nigeria which would deliver the country’s only large scale commercial gold mine. Lawson maintained that Thor was committed to building a world class project that would meet international standards, provide over a thousand jobs (directly and indirectly) for Nigerians, provide an additional stream of non-oil revenue and stimulate the inflow of foreign direct investment into the country’s mining sector.

The Thor CEO thanked the Osun State Governor and his Executive Council members for creating an enabling environment for investment in the state, the host communities for their co-operation and the Federal Ministry of Mines and Steel Development as well as the Africa Finance Corporation (AFC) for their support towards the realisation of the project.

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