With Gold Trading Above $1600/Ounce, Nigeria Builds First Commercial Goldmine

The construction of Nigeria’s only large-scale commercial gold mine has begun in Osun State and the facility will start producing gold in 2021. The Federal Ministry of Mines and Steel Development says the facility demonstrates the Federal Government’s desire to make the mining sector the mainstay of the nation’s economy. The Minister of Mines and Steel Development, Olamilekan Adegbite, described the project as the first of its kind in Nigeria, adding that it would deliver the country’s only large-scale commercial gold mine.