The Minister of Mines and Steel Development, Olamilekan Adegbite, has said the Federal Government would make the mining sector the mainstay of Nigeria’s sustainable economic growth.
The Minister, who made the pledge in his remarks during the flagging off of the construction of the Segilola Gold Mine in Odo-Ijesha and Iperindo in Osun State, said President Muhammadu Buhari had prioritised the development of the mining sector in view of its strategic roles in fast-tracking the growth of Nigerian economy.
Adegbite commended the promoters of the project Canadian-listed gold developer, Thor Explorations and its wholly owned local subsidiary, Segilola Resources Operating Limited, promising government’s support for their operations.
In his remarks, the Governor of Osun State, represented by the Secretary to the Osun State Government, Hon. Oluwole Oyebamiji, disclosed that the state government remained a partner in the project and promised to give it every support.
The governor said his administration would deploy all the necessary resources to nurture the Segilola Gold Project to maturity in order to fulfil his administration’s promise to make Osun State the commercial hub of the South West, especially in solid minerals.
The Managing Director of Thor Explorations, Mr. Segun Lawson, said that the flagging of the project represented a milestone for the company and all the stakeholders.
He said that when the project is completed next year, the company would process 650,000 tons of ore, with a target production of approximately 80,000 ounces per year.
Describing the project as the first of its kind in the country with the potential of making Nigeria a large scale commercial gold producer, the industrialist said his company was committed to building a world class project that will create jobs and boost the nation’s foreign exchange earnings from non-oil sector.