Minister of Mines and Steel Development, Arc. Olamilekan Adegbite, has expressed optimism that the country’s mining and metals sector will witness massive growth.
He attributed the expected rise to the gold production successes at Segilola Resources Operating Limited (SROL), a West African subsidiary of Thor Exploration Limited, which specializes in gold exploration and development and is listed on the Toronto Venture Exchange.
He spoke during a facility tour of SROL in the Iperindo region of Osun State,where he also revealed that an Aurelian business has started working in the Federal Capital Territory’s Baba Tsauni district of Gwagwalada on an advanced exploration and mining project for Gold, Silver and Lead.
A statement signed by the Ministry’s Director of Press, Mrs Etore Thomas,quoted the Minister as saying that:“An Aurelian company came into Nigeria in 2021, brought some investment in and others are about starting operation while another company who has also made imprints in Nigeria is acquiring equities right now. So many other companies like that have come into Nigeria, some are at the explorative stages while some have even gone beyond that.”
According to him,Nigeria needs more of Segilola to return to the world mining map.
He added: “We need more of Segilola in Nigeria, you are the pioneer and we are happy that it is a success story because when I started going to the mining calendar events and invite them to invest in the sector, they were hesitant as they saw Nigeria as a shark infested water and wanted to see who dived in and came out first. They wanted to see how Thor exploration will fair, your success story is out there now and everybody wants to be the next Segilola”
Adegbite disclosed that the SROL has paid about N1.1 billion in royalties to the Federal Government, since they started production in 2021, expressing government’s wiliness to welcome more relevant investors like Segilola Resources Operating Limited as more investors come in, the more royalties to the government and more employment for Nigerians.
He encouraged communities to be receptive to mining companies so as to accelerate development in their communities, provide job opportunities for their teaming youth and create wealth.
Earlier in his remarks, the Chief Executive Officer, Segilola Resources Operating Limited, Segun Lawson appreciated the support and motivation received from Federal Government which he believes is responsible for the success so far recorded.
Lawson said the company is not only running commercial operation as they have made a lot of social impact to the communities around them. He reiterated that his company has fulfilled all the promises made in the CDA signed with the host communities and have gone ahead into CSR which includes, building of markets, schools, construction of bridges, provision of scholarships, portable water, among others.
