The first gold refinery in Nigeria would be completed by the end of the first half of next year, says a Nigerian firm, Kian Smith Trade & Co Limited, on Thursday, December 13.
The firm also said that the refinery would start with a production capacity of three tonnes per month of 99.99 per cent gold and one ton per month production of 99.99 per cent silver.
The Minister of State for Mines and Steel Development, Abubakar Bwari, was quoted in a statement as saying this at the ground-breaking ceremony.
He said: “The present administration is determined to develop the mining sector to act as a catalyst for sustainable economic growth of the country.
“Part of our marching orders in the mines and steal development ministry is that we are expected to develop the sector to increase its contribution to the nation’s Gross Domestic Product, improve its capacity to create jobs and engender sustainable mining.”
He noted that it was in keeping with his ministry’s mandate that a roadmap was developed for the growth and development of the mining sector.
“During the focus labs of the Economic Recovery and Growth Plan of this administration, we discovered that a well-organised gold value chain can trigger an economic revolution as it did in India, South Africa, Switzerland and others,” Bwari said.
“We will be supplying the Central Bank of Nigeria, the jewellery and the electronics industry.”
“We have already secured a significant monthly supply of gold from Zamfara, Kebbi, Kwara, Niger, Kaduna, Ibadan, Ile-Ife, and Ilesha and about 100kg per month from other parts of Africa,” said the Vice Chairman, Kian Smith, Nere Teriba.