Egyptian firm plans gold mining investment in Nigeria
An expression of interest agreement with leading Luxembourg Incorporated Private Gold Development and Mining Company in Cairo, Egypt has been signed by the federal government.
This was announced by Etore Thomas, director of press in the ministry while signing of the expression of interest agreement in a statement in Abuja.
“Speaking during the signing ceremony coordinated by Egyptian African Arab Company for Development (EGAAD) in Cairo, Egypt recently, the Minister of State, Mines and Steel Development, Dr. Uchechukwu Sampson Ogah, stated that with the signing of the Expression of Interest by La Mancha, the efforts to attract big investors into the Sector have started yielding the desired result. He added that this will boost the diversification of the economy through the Minerals and Metals Sector.
“Dr. Ogah expressed satisfaction that with the collaboration between the Federal Government and La Mancha Holdings Incorporated, with portfolio companies, such as Endeavour Mining, Golden Star Resources and Altus Strategies, among others, and with a market capital in excess of about US$10 billion and over 1.2Moz of gold production.”
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