Yemisi Izuora
Matching the right investors with the right project will be top of mind at the new Finance and Investment Day during the upcoming Nigeria Mining Week taking place in Abuja from 26-28 October.
“As a booming market in its infancy, the upward trajectory of the Nigerian mining sector is a strong incentive for investors to profit from the golden opportunity of newcomers,” says event manager Sabrina Tab.
“The Finance and Investment Day will provide a full day of dedicated conference sessions featuring industry experts along with financiers, allowing investors to tap into this strategic territory through project showcases and case studies, while miners looking for funding will be able to learn more about strategies and models best suited to their financial needs,” she explains.
This year marks the fifth edition of the event which garnered increasing interest over the year.
The expansion of the event and the expectation of welcoming in excess of last year’s 1159 attendees from 17 countries, have prompted organiser Clarion Events to move to a larger venue, the International Conference Centre (ICC) to accommodate the expected 60+ exhibitors as well as several country pavilions.
The event is organised in partnership with the Miners Association of Nigeria (MAN), PwC Nigeriaand the Ministry of Mines and Steel Development.
Minister of Mines and Steel Development, Arch. Olamilekan Adegbite, has stated that the ministry intend to increase its support for Nigeria Mining Week.
He recently told Mining Review Africa, “It is my wish to upgrade Nigeria Mining Week to an international event like the Investing in African Mining Indaba, PDAC of Canada and Mines and Money. This what we are working on.”
A longstanding supporter of the event and returning gold sponsors for 2020 is the engineering specialist PW Nigeria Ltd (PWN). Chris McQuillan, mining director at PWN adds,
“Since 1974, we have worked continuously in Nigeria on major civil engineering projects. During this time we moved 55 million m3 in bulk earthworks projects, constructed 2 000 km of roads and constructed some of Nigeria’s premier bridges.
In 2015, we started a diversification process which would integrate mining into our core competencies.”
The majority shareholding in PWN was recently acquired by the BUA group.
“The BUA group is one of the largest groups on the Nigerian Stock Exchange and is a perfect fit for PWN. With its strong capital base, quarrying possibilities and its commitment to improve infrastructure in Nigeria. With their help and support PWN will be able to advance its mining portfolio,” adds McQuillan.
PWN’s current projects in the country include securing a consortium of Irish-Canadian mining investors on three gold targets in Niger state. The investment will be used for further exploration of these targets in the form of geo-chemistry, aero magnetics, reverse circulation drilling, diamond drilling and fire assays.
The company also owns the Lafarge Ewekoro quarry project which oversees removal of 500,000 bank cubic metres (BCM) of overburden to expose limestone, the drill and blast, load and haul and ROM refeed of 3.5 m tonnes of limestone annually.
McQuillan further adds that the COVID-19 pandemic has compelled PWN to close many of its operations due to the obvious health and safety issues and to help the government’s efforts to contain the spread of the virus.
“These closures have been done in a strategic manner to best allow our clients to implement their own policies and closure processes. We hope to be able to return and recommence these projects at the earliest opportunity and are in contact liaison with our clients.
“It is difficult not to get excited by the opportunities that exist in the Nigeria’s mining sector which remains largely untapped. We recently spent some time in the British geological survey going through mining records for the region which dated back to the early 1900s. A lot of enthusiasm existed during this period, we want to reignite this enthusiasm and bring the sector back to life.”
PWN is equally excited to return to Nigeria Mining Week.
“The show continues to grow and attract the right attendees. The more good news the Nigerian mining sector puts out the better; this is the right forum to do that,” concludes McQuillan.
