Segilola Gold Mine, Nigeria’s first and largest industrial-scale gold mine owned by the Canadian mineral exploration company, Thor Explorations Limited, is set to be completed in the first half of 2021.
The gold mine which was built to place Nigeria on the list of major gold producing nations is expected to create about 400 direct and 1,000 indirect jobs by carefully exploring the abundant wealth inherent in the gold value chain.
The Gold Mine tagged “Segilola” is a high-grade gold project being developed in Osun, Nigeria, is expected to hasten Nigeria’s diversification of the economy and reduce unemployment among the youth populace.
The country’s first and largest industrial-scale gold refinery will be completed some months from now, this year.
The Segilola Gold Project is considered Nigeria’s first and most advanced gold project, with an indicated resource of 556,000 ounces grading at 4.2g/t, an inferred resource of 306,000 ounces grading at 4.7g/t and a probable reserve of 448,000 ounces grading at 4.2 g/t.
In line with this shift, the Mining sector has been PROJECTED to contribute 3.0% of the nation’s GDP by 2025.