Home Africa Goodbye to oil? Nigeria hits BIG money in freshly discovered mineral resource

Goodbye to oil? Nigeria hits BIG money in freshly discovered mineral resource



– An Australian firm has discovered a rare mineral resource that could turn Nigeria’s economic fortunes around

– The mineral resource, a 90 per cent nickel was discovered at Dangoma in the north-west state of Kaduna state

– Owner of the Australian firm, Huge Morgan says the federal government is in the best position to announce the discovery

Premium Times is reporting that Nigeria has hit pay dirt with the discovery of a rare mineral resource in the northern part of the country. According to reports it published on Monday, August 29, the online medium quoted The Australian, an Australian national news daily as saying that a private mining syndicate headed by a mining industry veteran, Hugh Morgan made the discovery at Dangoma in the north-west state of Kaduna.

“The discovery is unusual because the nickel is found in small balls up to 3mm in diameter of a high purity in shallow soils in what could be the surface expression of a much bigger hard-rock nickel field.

“The nickel balls, rumoured to grade better than 90 per cent nickel and thought to be a world first given their widespread distribution, offer the potential for early cashflow from a simple and low-cost screening operation to fund a full assessment of the find that has exploration circles buzzing,” the newspaper was quoted as reporting.

Premium Times also quoted Morgan as saying that he expects the federal government of Nigeria to make an official announcement but reports that Olayinka Oyebode, chief press secretary of minister of solid minerals development, Kayode Fayemi, said he had no details of the discovery. Oyebode however confirmed that Fayemi is scheduled to be in Australia next week as one of the speakers at a three-day Africa Down Under mining conference at Perth’s Pan Pacific Hotel, Australia.

“I know there is a mining conference coming up in Australia where the Honourable Minister is supposed to make a presentation. “But I don’t have an advance knowledge of what he’s going to talk about but, generally speaking, he’s going to market Nigeria,” Oyebode was quoted as saying on Monday, August 29.

Meanwhile, Fayemi has warned newly deployed federal mines officers to pay maximum attention to matters relating to the procurement, transportation, storage and use of explosives in their respective states.

He declared that they would be held responsible for any diversion of explosives to unauthorised persons. Fayemi gave the warning during a meeting with the 37 newly deployed officers in his office on Tuesday, August 9 while assuring them that they would be adequately equipped for the assignment.

Source: Naij

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