Thor Explorations has poured first gold at Nigeria’s flagship gold mine

Over the weekend, Thor Explorations has poured first gold from its Segilola Gold Mine in Nigeria’s Osun State. This is a critical milestone for the project where commercial production is expected in September. Once fully commissioned, the plant will run at a processing rate of 715,000 tonnes per annum, targeting about 85,000 ounces of gold a year.

The Segilola Gold Mine has been under development for a few years and will mark a critical milestone in Nigeria’s journey to further diversify away from oil. While its neighbours in West and Central Africa have all successfully developed their mining and minerals industry to support economic growth and create jobs, Nigeria’s mining sector has remained massively under-developed.

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Nigerian institutional investors back bonds issuance from country’s leading free zone

The Lagos Free Zone Co. (LFZC), a subsidiary Singaporean conglomerate Tolaram, has successfully issued a NGN 10.5bn 20-year Series 1 Senior Guaranteed Fixed Rate Corporate Infrastructure Bonds, the company said today. The issuance falls under a NGN 50bn debt issuance programme aimed at securing financing to expand what has become Nigeria’s most modern and integrated […]

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