Nigeria and a Swiss company have signed an agreement on metal and gold mining development

Ken Ibenne

Ken Ibenne

A deal has been made between Nigerian and Swiss companies to improve the precious metals and artisanal gold mining value chain. Dukia Gold & Precious Metals Refining Co. Limited Nigeria and Philoro Global Trading AG Switzerland signed a Working Together Agreement on the sidelines of the Investing in African Mining Indaba in Capetown, South Africa, to deepen participation in the extractive industry and consolidate strategies in the development of programs needed to exploit the expected benefits in the sector.

Olamilekan Adegbite, Minister of Mines and Steel Development, described the signing as “a simple affair of huge significance.”

Adegbite described it as a significant step forward in Nigeria’s gold and gold-related business.

“Dukia Gold has always been a pioneering company, breaking new ground where no one else has gone before. They have worked tirelessly to deliver the gold value chain and gold assets to regular Nigerians. This would increase the likelihood that Nigeria will have access to gold assets for investment thanks to Philoro’s experience in the business.

“In this day and age of currency instability and global volatility, gold as a safe haven does not have to be limited to the wealthy and powerful. Nigerians can purchase gold coins to keep, invest in, and trade.

“We’re all part of this historic occasion, and I’m glad we’re all here today to witness this symbolic signing ceremony,” he added. “I hope to see them develop as this business grows, and we can all look back 10 years from now and see how far we’ve come from this simple ceremony.”

The agreement’s goal, according to Paul Beesley, Chief Operating Officer (COO) and Executive Director of Dukia Gold, was to establish a Precious Metals Trading program centered in Nigeria, to service and support the Nigerian market and potentially use it as a basis to offer similar products to other African markets.

He also stated that the partnership would aid in the development of finance and technical support solutions to enable Dukia Gold’s responsible sourcing of Dore’ strategies, which include the evaluation and development of new projects as well as the support of small scale and artisanal mining programs.

According to him, the cooperation would strengthen and extend the Dukia Gold Precious Metals Refinery in order to achieve the goal of aggregating gold doré from third-party sources in Nigeria and across West Africa. The ultimate goal, according to him, is to make world-class Good Delivery Bars and Coins.

“Through skills and knowledge transfer, capacity and capability building, and the establishment of beneficial engagements with host communities, our commitment to work with Dukia Gold will further promote and develop other important and relevant opportunities in the Precious Metals value chain in Nigeria and West Africa.”

“These are difficult goals, but we are certain that by forming the appropriate partnerships and working in the right atmosphere, we can achieve them and more.”

“We are embarking on a long-term relationship with Philoro Global Trading AG, Switzerland, and will leverage our combined successes to create and highlight what is possible.” These small achievements would then serve as a springboard for promoting further growth of the vision through formal agreements with other worldwide corporations whose capabilities will contribute to a more sustainable Precious Metals Mining, Refining, and Trading supply chain in Nigeria.”

Brenner, the business’s president, adding that the company was excited to expand its footprint and global vision in Africa through its cooperation with Dukia Gold, a Nigerian company.

“Through this Working Together Agreement with Dukia Gold and other designated stakeholders in the “Mines to Market” project, we at Philoro are happy to expand our presence and actualisation of our global vision and ambitions in Africa, particularly Nigeria,” he stated. The Minister’s and the senior echelon of the Ministry of Mines and Steel Growth’s commitment to the development of Nigeria’s mining sector is even more comforting to our future engagements on the African continent.

“Today’s signing marks a watershed moment in the parties’ relationship, but we feel it is merely the beginning.” The Minister’s participation, as well as the atmosphere of the event, conveys a strong message that Nigeria is a mining investment destination.”

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