Segilola Resources Operating Limited (SROL), a subsidiary of Thor Explorations Ltd, engaged stakeholders in the gold mining sector to reinforce its leadership in the industry. On November 19, 2024, SROL held a Stakeholder Reception in Abuja, gathering key players from various organisations, including the Minister of Industry, Trade, and Investment, Jumoke Oduwole. The reception followed SROL’s participation as a Diamond Sponsor at Nigeria Mining Week.

During the event, Chris Omo-Osagie, Thor’s Chief Financial Officer, highlighted the company’s achievements, such as being named one of Nigeria’s Top 10 Non-Oil Exporters and receiving the Responsible Resourcing Award for Labour. “These achievements underscore our dedication to innovation, sustainability, and community impact,” he stated. SROL Country Manager Austin Menegbo reiterated the company’s commitment to environmental, social, and governance principles, noting that responsible mining is central to its operations.

Oduwole commended SROL’s vital role in Nigeria’s economic diversification, highlighting the importance of non-oil exports. SROL also received recognition as a Presidential Enabling Business Environment Council Export Champion for its dedication to national development. During a panel discussion, SROL showcased its community initiatives, including healthcare provision and educational support, reaching nearly 2,000 individuals through their medical outreach this month.

Menegbo concluded by emphasizing SROL’s commitment to responsible mining practices in Nigeria. The company expressed gratitude to its stakeholders and reaffirmed its goal to drive progress in the mining sector.

Segilola Resources Operating Limited aims to establish itself at the forefront of Nigeria’s gold mining industry while promoting responsible mining and community development. By engaging stakeholders and demonstrating its commitment to social initiatives, SROL seeks to balance profitability with community welfare and environmentally sustainable practices. This event reflects broader trends within the industry where collaboration and accountability are increasingly important.

SROL has made significant strides in establishing itself as a leader in responsible gold mining in Nigeria. Through strategic stakeholder engagement, recognition of outstanding achievements, and community support initiatives, the company demonstrates its commitment to sustainable practices and economic diversification in the country. SROL’s proactive approach sets a benchmark for others in the industry to follow, reinforcing the importance of corporate responsibility in mining operations.

Original Source: punchng.com

The post SROL Hosts Key Stakeholders to Strengthen Gold Mining Leadership in Nigeria first appeared on Nigerian Mining News.

Experts in Nigeria’s mining sector have called for significant investment in mineral exploration and geoscience data generation to attract international mining firms. During the Nigerian Mining Week in Abuja, they referred to old, neglected mining sites as Brownfields and newer initiatives as Greenfields. Speakers, including Habeeb Jaiyeola from PwC and Fadi Abou Ghazale of Titan Minerals, highlighted the need for credible geological data as a critical factor for attracting global players like Rio Tinto. Ghazale noted the difficulties in securing exploration funding and urged for government support to enhance the investment climate. Furthermore, Simon Nkom from the Nigeria Mining Cadastre Office emphasised the importance of digitising mineral licensing. He pointed out that despite the government’s past involvement in mining, it now seeks to create a supportive environment for private sector investors. Both Nkom and Ayodeji Gbeleyi of the Bureau for Public Enterprises agreed that the lack of available geodata heavily obstructs progress. Collectively, the discussion underscores that enhancing Nigeria’s mineral wealth requires strategic investment and the generation of reliable exploration data.

Nigeria’s mining industry holds substantial potential, particularly in its Brownfield and Greenfield sites. Historically, mining was overshadowed by oil discovery, leading to a decline in exploration efforts. However, experts posit that revitalising this sector could draw investments from leading global mining companies. Key aspects influencing this potential include improved data generation, targeted strategies for mineral exploration, and a supportive regulatory environment, aiming to transition Nigeria into a competitive mining destination.

To attract major players in the mining industry, Nigeria must prioritise investments in mineral exploration and the generation of accurate geoscientific data. The current strategies involve engaging the private sector and creating favourable conditions for junior investors. By developing both Brownfield and Greenfield sites, Nigeria could rejuvenate its mining sector, potentially leading to significant economic mineral discoveries that would appeal to international investors.

Original Source: leadership.ng

The post Strategies For Attracting Mining Giants To Nigeria first appeared on Nigerian Mining News.

Dele Alake, Nigeria’s Minister of Solid Minerals Development, emphasized the government’s commitment to halting the export of mineral resources during a press conference for the ninth edition of Nigeria Mining Week. The aim is to implement a value-addition policy that ensures minerals are processed locally to boost the economy. Nigeria, rich in 44 minerals, is focusing on local beneficiation to create jobs and enhance industrial growth. The government will tackle issues like illegal mining to secure mineral resources, reinforcing that the solid minerals sector should contribute significantly to the national GDP. Stakeholders view the mining week as an opportunity to enhance the industry and showcase technological advancements.

The Nigerian government seeks to develop its solid minerals sector to strengthen the economy, reduce dependency on external mineral imports, and create local job opportunities. This initiative aligns with global trends towards energy transition and sustainable mining practices. By prioritising local processing and value addition, Nigeria hopes to establish itself in the global mineral market and ensure local communities benefit from their resources.

In conclusion, the Nigerian government’s strategy under Minister Dele Alake aims to transform the country’s mining sector by prohibiting mineral exports, fostering value addition, and increasing local processing capabilities. This approach is set to benefit the economy and positions Nigeria for a prominent role in the global mineral value chain.

Original Source: www.thecable.ng

The post Nigeria to Halt Mineral Exports for Economic Value Addition first appeared on Nigerian Mining News.