According to the Federal Ministry of Mines and Steel Development, the construction of Nigeria’s only large-scale commercial gold mine has started in Osun.
The governor of Osun State, Gboyega Oyetola, who was represented by the Secretary to the state government, Oluwole Oyebamiji said, “Osun State government is an ally in this project and we promise to give it every support to see it to fruition.”
The gold mine will start production in 2021 and will process 650,000 tonnes of ore per year with a target of 80,000 ounces per year, said Managing Director, Thor Explorations, Segun Lawson.
The gold mine will provide more than 1,000 jobs direct and indirect and will provide an influx of foreign direct investment to the sector.
The EPC contract was awarded to Norninco International by the country’s mines and steel development ministry, to build a turn key business.
Africa Finance Corporation invested $78m and have 10% equity in Thor Explorations, which is a Canadian listed gold developer, Thor Explorations, and its wholly owned local subsidiary, Segilola Resources Operating Limited.
Meanwhile, Senegal and the Ivory coast which are two of Africa’s largest economies have “declared a state of emergency” and have enforced curfews.
According to United Nations data Senegal has an estimated 16.m people whilst the Ivory coast has more than 26m people.
Coronavirus is tearing through Africa which by in large has porous borders across the 54 countries that make up the continent.
They have sensationally spoke out and said the coronavirus outbreak in Wuhan was due to the scientists researching bat diseases and could be responsible.