The construction of First commercial gold mine begins in Osun State

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The construction of Nigeria’s only large-scale commercial gold mine has begun in Osun State and therefore the facility will start producing gold in 2021.

According to the Federal Ministry of Mines and Steel Development, the power demonstrates the Federal Government’s desire to form the mining sector the mainstay of the country’s economy.

The Minister of Mines and Steel Development, Olamilekan Adegbite, said these at a ceremony for the commencement of Thor Exploration’s construction of the Segilola Gold Mine in Odo-Ijesha and Iperindo in Osun State.

He said “the venture was a pioneering project within the Nigerian mining sector and commended the promoters of the power , Canadian listed gold developer, Thor Explorations, and its wholly owned local subsidiary, Segilola Resources Operating Limited.He said the federal was committed to supporting companies within the sector.

The Governor of Osun State, Gboyega Oyetola, who was represented by the Secretary to the government , Oluwole Oyebamiji, said, “Osun government is an ally during this project and that we promise to offer it every support to ascertain it to fruition.”

The Managing Director of Thor Explorations, Segun Lawson, said when the gold mine would be completed in 2021, 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 said the gold mine would provide over 1,000 direct and indirect jobs for Nigerians, provide an additional stream of non-oil revenue and stimulate the inflow of foreign direct investment into the country’s mining sector.

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