{"id":1052,"date":"2022-01-12T12:49:38","date_gmt":"2022-01-12T12:49:38","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/nigeria-woos-barrick-and-rio-tinto-to-spur-nascent-mining-industry"},"modified":"2022-01-12T18:59:16","modified_gmt":"2022-01-12T18:59:16","slug":"nigeria-woos-barrick-and-rio-tinto-to-spur-nascent-mining-industry","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/nigeria-woos-barrick-and-rio-tinto-to-spur-nascent-mining-industry","title":{"rendered":"Nigeria woos Barrick and Rio Tinto to spur nascent mining industry"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Barrick Gold Corp. and Rio Tinto Group have expressed interest in Nigeria\u2019s largely untapped mining sector, according to the West African nation\u2019s mining minister.<\/b><\/p>\n

\u201cThey are looking at the possibility of coming to look at opportunities in Nigeria,\u201d Olamilekan Adegbite said in an interview at a mining conference in Saudi Arabia\u2019s capital, Riyadh. Africa\u2019s biggest crude producer is hoping investors will follow the example of Thor Explorations Ltd., which has built the country\u2019s first industrial gold project, as it seeks to cut its dependence on oil earnings.<\/p>\n

Vancouver-based Thor poured first gold from its mine in southwestern Nigeria in July and is targeting output of 85,000 ounces a year. \u201cWe\u2019re so happy and delighted because they have succeeded and so give the right signal for investors,\u201d Adegbite said.<\/p>\n

Toronto-based Barrick, the world\u2019s second biggest gold miner, is among the firms \u201cinterested in coming to Nigeria,\u201d while the government \u201chas spoken with\u201d London-based Rio, the top iron ore producer, about opportunities in the country, Adegbite said without providing additional details. The government intends to auction rights to mine gold, lithium, copper and limestone later this year, he said.<\/p>\n

Africa\u2019s most populous nation has sizeable reserves of metals including gold, zinc, lead and iron ore, but nearly all extraction is done informally with rudimentary equipment. Before Thor\u2019s launch, the contribution of mining to gross domestic product stood at less than 0.1%.<\/p>\n

In the 1960s and 1970s, mining made up 4% to 5% of Nigeria\u2019s GDP, before major operations shut down and crude oil came to dominate the government\u2019s agenda.<\/p>\n

Gold smuggling has also been a problem, with much of it destined for Dubai, according to Adegbite, who is seeking help from authorities in the United Arab Emirates to stem the flow. \u201cWe are in discussion with the UAE government to stop such practices,\u201d he said. \u201cWe\u2019re getting some traction.\u201d<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Barrick Gold Corp. and Rio Tinto Group have expressed interest in Nigeria\u2019s largely untapped mining sector, according to the West African nation\u2019s mining minister. \u201cThey are looking at the possibility of coming to look at opportunities in Nigeria,\u201d Olamilekan Adegbite said in an interview at a mining conference in Saudi Arabia\u2019s capital, […]<\/p>\n","protected":false},"author":84,"featured_media":1051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,12,16],"tags":[233,237,234],"class_list":["post-1052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nNigeria woos Barrick and Rio Tinto to spur nascent mining industry - Botswana<\/title>\n<meta name=\"description\" content=\"Barrick Gold Corp. and Rio Tinto Group have expressed interest in Nigeria\u2019s largely untapped mining sector, according ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/nigeria-woos-barrick-and-rio-tinto-to-spur-nascent-mining-industry\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria woos Barrick and Rio Tinto to spur nascent mining industry\" \/>\n<meta property=\"og:description\" content=\"Barrick Gold Corp. and Rio Tinto Group have expressed interest in Nigeria\u2019s largely untapped mining sector, according ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/nigeria-woos-barrick-and-rio-tinto-to-spur-nascent-mining-industry\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-12T12:49:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-12T18:59:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/01\/img-61df24e2d49d6.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/nigeria-woos-barrick-and-rio-tinto-to-spur-nascent-mining-industry#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/nigeria-woos-barrick-and-rio-tinto-to-spur-nascent-mining-industry\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Nigeria woos Barrick and Rio Tinto to spur nascent mining industry\",\"datePublished\":\"2022-01-12T12:49:38+00:00\",\"dateModified\":\"2022-01-12T18:59:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/nigeria-woos-barrick-and-rio-tinto-to-spur-nascent-mining-industry\"},\"wordCount\":338,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/nigeria-woos-barrick-and-rio-tinto-to-spur-nascent-mining-industry#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/01\/img-61df24e2d49d6.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/nigeria-woos-barrick-and-rio-tinto-to-spur-nascent-mining-industry#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/nigeria-woos-barrick-and-rio-tinto-to-spur-nascent-mining-industry\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/nigeria-woos-barrick-and-rio-tinto-to-spur-nascent-mining-industry\",\"name\":\"Nigeria woos Barrick and Rio Tinto to spur nascent mining industry - 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