Nigerian Minister of State for Mines and Steel Development Hon. Abubakar Bawa Bwari initiated the construction of the first gold refinery in Nigeria. The refinery being developed by indigenous minerals company Kian Smith Trade & Co Ltd. in Ogun State is expected to begin production in 2019, sourcing most of its ore from miners in the country.

Nigeria has largely unexploited deposits of 44 minerals, which include gold, iron ore, coal, tin and zinc, in more than 500 locations spread across Africa’s most populous nation. But most of the mining is artisanal and also the absence of gold refineries suggests that price generally has not been additional within the supply chain.

The plant will begin with a production capability of three tonnes per month of 99% gold and 1 ton per month production of 99.99% silver. The Central Bank, the Jewellery and the Electronic Industry with our products. We will be supplying the Central Bank, the Jewellery and the Electronic Industry,” said, chairperson of Kian Smith at the ground breaking.