“The
main message I’d like to share with the delegates at Nigeria
Mining Week is that Nigeria is open for business and is ready
to make the most of its mineral wealth” says Mr Begna Gebreyes, Senior Vice
President: Investments, at the Africa Finance Corporation (AFC). “Less than
0.5% of the country’s GDP comes from minerals and mining. However, the country
has much to offer such as coal, gold, iron ore, uranium, wolframite, columbite,
tantalite and bitumen. Diversifying away from oil, which is unpredictable in
pricing, is key to ensuring the country’s stability as is maximising our
mineral wealth instead of importing from abroad.”
He continues: “however, it goes without saying that this will not be done at
any cost. Delegates must understand that Nigeria’s mineral wealth must be
exploited in a way that is inclusive and sustainable, and more thought must be
given to in-country beneficiation so that Nigerians are not only producing
natural resources but also manufacturing finished products.”
At the upcoming Nigeria Mining Week in Abuja from 14-16 October,
Mr Gebreyes is part of a panel discussion on “Understanding the needs of
financial institutions and funding organizations-the financial models available
to support mining projects”.
Our
goal is to grow investments in mining
In an exclusive pre-event interview, Mr Gebreyes says “there is a tremendous
amount of opportunity in the mining sector all across Africa. Our goal is to
grow our investments in mining, over the next few years, to over US$500
million. There are many exciting projects that merit investment.” According to
the AFC SVP, one example of such an exciting project is the Segilola Gold
Project in Nigeria with Thor Explorations.
He explains: “we have offered the company a US$78-million financing package for
its Segilola Gold Project. This funding solution includes a credit facility, a
gold stream and common equity. Nigeria is known around the world as a major oil
producer but much less so for its mineral resources. We are very proud to be
supporting the growth of Nigeria’s fledgling mining industry.”
To read the full interview with Mr Gebreyes and other event partners,
ambassadors, speakers and sponsors, go to http://www.nigeriaminingweek.com/interviews
Key driver for economic growth
The fourth edition of the Nigeria Mining Week conference
and exhibition is jointly organized by PwC, Spintelligent and the Mining
Association of Nigeria (MAN). The event is expected to attract more than 1200
mining experts, 180+ mines and exploration companies, 40+ sponsors with more
than 24 countries represented.
Leading industry suppliers AG Vision, Barron, HMD Mining and ITM are gold
sponsors at the event while Kaduna State, Kian Smith Trade Co, Meridian
Drilling & Exploration Services, Puduna and PW Nigeria Ltd have partnered
as silver sponsors.
Nigeria Mining Week dates and location:
14 October 2019: Pre-conference: Finance and investment day
15-16 October 2019: Opening Session, conference and exhibition
Venue: NAF Conference Centre and Suites in Abuja, Nigeria
The event organiser Spintelligent is a well-known trade conference and expo
organiser on the continent. The company has particular expertise and experience
in mining, infrastructure development and energy; including long-running
flagship shows such as Future Energy Nigeria in Lagos, DRC Mining Week in
Lubumbashi, East & Central Africa Mining Forum in Kigali and African
Utility Week and POWERGEN Africa in Cape Town.
Home Latest News Africa Finance Corporation: “proud to be supporting the growth of Nigeria’s fledgling...