Tuesday, 8 November 2016

Adamawa to explore solid minerals with Swiss firm

Reported by News Agency of Nigeria (NAN)
The Adamawa Mining Company Limited says it has acquired 12 licenses for Solid Minerals explorations in the state.
Mrs Shanti Shashi, the state Commissioner of Solid Minerals Resources, disclosed this in an interview with the News Agency of Nigeria (NAN) in Yola on Tuesday.
Shashi said the state government had also signed a five billion dollars agreement with a Swiss company, BTP Swiss Sovereign Asset, for the exploration of solid minerals in the state.

Shashi said that the agreement was signed in June 2016 and would last for three years.
“Adamawa Mining Company has acquired 12 solid minerals exploration licenses from Federal Government.
“ The Company has signed five billion dollars agreement with BTP Swiss Sovereign Asset to mine Gold, Diamond, Lead Zinc, Bitumen, Barites, Uranium, and Platinum.
“ The investor is a world-class renowned mining company that can generate a lot of revenue and employment for the state,” Shashi said.
Shashi said the state government also signed a contract agreement with Dangote Cement for the establishment of cement factory in Guyuk Local Government Area of the state.
According to the commissioner, the development will create more revenue and employment for the state and the country at large.

She said that another reputable foreign investor, Smart Group International, had submitted a letter of intent to the government for the establishment of cement factory in Lamurde Local Government Area.

She added that Group’s intention to establish the cement factory was due to huge deposits of gemstones discovered in the area.

“A draft Memorandum of Understanding is in place with Orca Energy Company of the United Kingdom for the recovery of alluvial, Gold, Diamond and other gemstones from Rivers Faro and Benue.

“As well as the establishment of state of art equipment and mineral testing laboratory and jewellery plant in the state,” she said.

Shashi said that the development was part of efforts to diversify the state revenue generation from oil to non oil revenue. (NAN)

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