Business · Companies · 9 hrs ago
Areal and Niger State agree to build gold refinery in Nigeria
Russian mining company Areal and Niger State agreed to build a gold refinery in Minna, the state capital in Nigeria.
The agreement followed a meeting between Niger State Governor Mohammed Umaru Bago and Areal CEO Vladislav Sviblov during the Russia-Africa Summit in Moscow.
The refinery is expected to create jobs and bring gold mining into the formal sector, according to the Russian Trade Mission to Nigeria.
The project is also expected to increase revenues for Nigeria’s federal and regional budgets.
Areal, formerly known as Highland Gold, is a Russian company that mines gold, silver and other metals.
The project’s timeline, investment and production capacity have not been announced, so the next steps and scale remain unclear.
Areal and Niger State have signed an agreement to build a gold refinery in Minna, the state capital.
The Russian Trade Mission to Nigeria, Togo, Mali and Burkina Faso announced the agreement.
The agreement followed a meeting between Niger State Governor Mohammed Umaru Bago and Areal CEO Vladislav Sviblov during the Third Russia-Africa Summit in Moscow.
The refinery is expected to create jobs, help move gold mining out of the informal sector and increase federal and regional budget revenues.
The project’s timeline, estimated investment and production capacity have not been disclosed.
- Who
- Russian mining company Areal and the government of Nigeria’s Niger State.
- What
- They signed an agreement to build a gold refinery.
- When
- The agreement followed a meeting on the sidelines of the Third Russia-Africa Summit, held on October 28-29. The announcement was made on November 2.
- Where
- Minna, the capital of Niger State, Nigeria.
- Why
- The project is expected to create jobs, bring gold mining out of the informal sector and increase federal and regional budget revenues.
This story does not have two clearly opposing sides.
The Third Russia-Africa Summit was held in Moscow, where Governor Mohammed Umaru Bago and Areal CEO Vladislav Sviblov met.
Areal and Niger State signed an agreement to build a gold refinery in Minna.
The Russian Trade Mission to Nigeria, Togo, Mali and Burkina Faso announced the agreement.
- Company
- Areal, formerly Highland Gold
- Partner
- Government of Niger State, Nigeria
- Refinery location
- Minna, Niger State
- Summit
- Third Russia-Africa Summit, Moscow, October 28-29
- Project details
- Timeline, estimated investment and production capacity not disclosed