Kian Smith Trade & Co Limited, a Nigerian firm, revealed that the country’s first gold refinery would be completed by June 2019. The development was confirmed at the ground breaking ceremony of the refinery.
The firm said the refinery would start with a production capacity of three tonnes per month of 99.99 percent gold and one ton per month production of 99.99 percent silver.
Nere Teriba, the Vice Chairman of Kian Smith revealed that the firm has already secured a significant monthly supply of gold from Zamfara, Kebbi, Kwara, Niger, Kaduna, Ibadan, Ile-Ife, and Ilesha and about 100kg per month from other parts of Africa.
Teriba noted that the firm was finalising supply agreements and terms from suppliers in Kano. She said “next week we will be securing supply from Kogi state”.
Teriba further revealed that the refinery, when completed, will provide more than 500,000 jobs in two years as it continues to support its suppliers in their bid to become registered business entities in the mining sector.
At the ground breaking ceremony, the Minister of State for Mines and Steel Development, Abubakar Bwari said the Nigerian Government is determined to develop the mining sector and to act as a catalyst for sustainable economic growth of Nigeria.
Bwari said “part of our marching orders in the mines and steal development ministry is that we are expected to develop the sector to increase its contribution to the nation’s Gross Domestic Product, improve its capacity to create jobs and engender sustainable mining”.