Industry news

Industry News

Securing a place for artisanal mining post COVID-19
The COVID-19 Pandemic has shaken every economic cluster to the core and has left the world grappling with economic challenges that dwarf the global financial crisis of 2008.
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Advancing commercial sustainability for artisanal miners
One of the challenges to envisioning artisanal mining as a viable enterprise is that the economies of scale involved do not always make for a good business case.
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Bowmans and Udo Udoma & Belo-Osagie enter into an alliance to better serve clients across Africa - effective 1 September 2020
Leading African law firms, Bowmans and Udo Udoma & Belo-Osagie (UUBO), have announced that they are taking a major step forward in collaborating to support clients across the continent.
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Construction on track at Segilola gold mine
Thor Explorations has announced that concrete has been poured on the Segilola process plant site, construction and procurement are progressing on schedule and on budget with first gold pour expected i...
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Big business is back but what about artisanal miners?
When South Africans began their day this morning, they faced the 54th day of the country’s COVID-19 lockdown.
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Mineral exploration could revive Nigeria
Before the onset of Covid-19, it was, to the surprise of many, reasonably easy to undertake an exploration project in the country. The Federal Government of Nigeria is of the opinion that exploratio...
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Kogi adopts phased approach to funding, work on Agbaja project
ASX-listed Kogi Iron has announced that it will adopt a staged funding and development programme to ensure the development of its Agbaja cast steel project, in Nigeria, continues to progress.
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PwC urges reforms amid Covid recovery
PricewaterhouseCoopers (PwC) have urged miners to adopt strategies to mitigate against further economic and social risks post the Covid-19 crisis.
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Kogi's Nigerian operations impacted by Covid-19 prevention measures
SX-listed iron-ore miner Kogi Iron reports that its Nigeria-based Agbaja Cast Steel project or the greater Agbaja plateau community, have been infected with Covid-19. The operation has been materially...
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Illegal gold mining rips Nigeria off forex revenue
With crude oil trading at around $35 per barrel, untapped solid minerals offer Nigeria the opportunity to diversify and earn more foreign exchange (forex), as gold currently trades at 1,683.65 per oun...
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Investment a key focus at expanded Nigeria Mining Week
Matching the right investors with the right project will be top of mind at the new Finance and Investment Day during the upcoming Nigeria Mining Week taking place in Abuja from 26-28 October.
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World Bank Urges Nigeria to Develop Mining Sector
The World Bank has advised Nigeria to develop its mining sector to help mitigate post-COVID-19 economic shocks, rather than wait for a rebound of oil prices in the global market.
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Dukia Gold was launched as the country's first gold and precious metals refining conglomerate, aimed at opening access for the domestic precious metals industry to global markets.
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Kogi appoints Nigerian contractor to start trial iron-ore mining
ASX-listed Kogi Iron and its Nigerian subsidiary KCM Mining have started small-scale trial mining at the Agbaja Cast Steel project, in Nigeria
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Nigeria is a powerhouse but needs to overcome some challenges to attract investments
Can Australian expertise kick-start a new industry in Nigeria? 
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Mohammed Abba Tor is the President of the Nigerian Institute of Quantity Surveyors (NIQS).
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A new report by PwC Nigeria has revealed that the COVID-19 pandemic is expected to have a disproportionate impact on Nigerian financial technology (FinTech) companies, depending on which segment each ...
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Nigeria earned N416.32 billion from solid minerals in 12 years
The Nigerian government earned ₦416.32billion from the solid minerals sector from 2007 to 2018, an analysis by the Premium Times Centre for Investigative Journalism [PTCIJ] and Centre for Democracy ...
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IMF approves US$ 3.4 Billion in emergency support to Nigeria to address the COVID-19 Pandemic
IMF approved Nigeria’s request for emergency financial assistance of SDR 2,454.5 million (US$ 3.4 billion, 100 percent of quota) under the Rapid Financing Instrument (RFI) to meet the urgent balance...
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Kogi Iron sees ongoing interest in Nigeria-based cast steel project
ASX-listed Kogi Iron is seeing ongoing interest from potential new investors in its Agbaja cast steel project, in Nigeria, where Kogi is starting to see global capital flows to the commodity sector.
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A new Nigerian VC is trying to democratize startup funding for everyday investors
The Future Africa Collective, launched by Aboyeji is aiming at democratizing the opportunity of investing in African tech startups for younger interested investors.
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The Nigerian Communications Commission (NCC) has embarked on building six Information and Communication Technology (ICT) parks to promote socio-economic transformation of Nigeria.
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Nigeria Expects $2.8 Billion From Oil Price Rebound After Cut
Africa’s largest oil producer’s decision is part of the OPEC+ initiative to cut crude supply by 10 million barrels per day in May, another 8 million in the second half and then by 6 million barrel...
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Tech startups are joining Nigeria’s fight against coronavirus
Fledgling tech companies in Nigeria have been successful in the last few years in helping to reposition the country’s commercial capital, Lagos as Africa’s leading tech hub, particularly when it c...
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Thor Exploration’s Segilola Gold Project – A historic milestone for Nigerian mining
Thor Explorations’ Segilola Gold Project has the potential to produce 80,000 oz of gold per annum. The company aims to have the project operational in early 2021 and employ more than 1,000 Nigerians...
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Canada-listed junior miner Thor Explorations (TSX-V:THX) is getting ready to begin construction at its Segilola project in Nigeria, poised to become the country’s first large-scale gold mine.
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Nigeria bans barite importation
The Minister of Mines and Steel Development, Architect Olamilekan Adegbite, has disclosed that Federal Government will soon ban barite importation into the country.
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BUA Group has announced its acquisition of majority shareholding in P.W. Nigeria Limited, one of Nigeria’s leading construction, engineering and mining companies.
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 Nigeria: Government, States strategize to attract FDIs and boost IGR
The federal and state governments have forged a partnership to enhance their drive for foreign investments as well as boost internally generated revenue (IGR).
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Amanda Obidike is helping youth in Africa find opportunities through STEM
Eight years ago, Nigerian Amanda Obidike was unemployed and demotivated, but after using STEM skills to create a career for herself, she'snow works to give those same opportunities to young peopl...
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Developing Abuja's communities
The Federal Capital Territory (FCT) Community and Social Development Project (CSDP) is a World Bank finance assisted project. In this interview with PREMIUM TIMES’ Business reporter, Oge Udegbun...
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 Nigeria earns N400b from solid minerals in 12 years
A Nigeria Extractive Industries Transparency Initiative (NEITI) report yesterday showed that the industry posted N69.47 billion to the Federation Account in 2018, the highest during the period under r...
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The Company was developed to undertake acquisitions of businesses (either shares or assets) that are involved in natural resources exploration.
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Nigeria sets ambitious target for mining sector growth
Nigeria expects its mining sector to grow to 3% of gross domestic product (GDP) within the next five years from just 0.3% currently as the government seeks to diversify the economy away from oil, the ...
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World Bank Approves $2.2 Billion for Projects in Nigeria
The World Bank approved six projects worth about $2.2 billion to support Nigerian human capital and economic development in 2020.
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Nigeria approves $268 million to back entrepreneurs, innovators
Nigeria approved disbursing $268 million in funding to support agricultural entrepreneurs and young technology innovators, Vice President Yemi Osinbajo said.
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Nigeria’s government has licensed two gold refineries to produce the metal for export and for the central bank to hold in its reserves, the mines minister has revealed.
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Meet The All-Female Angel Group Making Profitable Bets On African Entrepreneurs
“If you empower a woman, you empower a nation.” That is the driving motivation behind Rising Tide Africa, a female angel investing network co-founded by Yemi Keri and Ndidi Nnoli-Edozien in Lagos,...
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Nigeria’s solid minerals industry is believed to have the capacity to generate yearly revenue of $60 billion if properly harnessed.
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SA High Commissioner Mseleku on strengthening relations with Nigeria
The Nigeria-South Africa relation is conducted via a Bi-National Commission which was established in 1999. 2019 marked the 20th Anniversary of the commission. As a new decade begins, South Africa’s ...
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The US Trade and Development Agency (USTDA) has awarded a grant to NNPC Gas and Power Investment Company LTD (GPIC) to provide the technical, economic and financial analysis necessary for the developm...
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Nigeria’s Finance Act: How will this affect citizens and consumer markets?
The implementation of Nigeria’s finance act kicked off on the first of February. Taiwo Oyedele, Partner and West Africa Tax Leader at PwC Nigeria joins CNBC Africa for more.
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“Nigeria’s gold exportation has potential to surpass oil and gas” – Minister Olamilekan Adegbite.
Nigeria’s Minister for Mines and Steel Development, says the country will hopefully export gold officially for the first time in history by the end of the year.
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Is Nigeria mining industry ready for investment?
Honourable Olamilekan Adegbite, Nigeria’s Minister of Mines and Steel Development shares his insights into why the mining industry must invest in Nigeria.
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Nigeria expects its mining sector to account for 3% of GDP over the next five years from just 0.3% now as the government seeks to diversify the economy away from oil, the minister for mines & stee...
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Nigeria Mining Week: The best of the West
“We want to put some life in Nigeria Mining Week and we want to deepen what happens.”
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