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From Louis Ibah
Dukia Gold and Precious Metals Refining Company Limited Nigeria and Philoro Global Trading AG Switzerland, have signed a Working Together Agreement (WTA) on the sidelines of the Investing in African Mining Indaba taking place in Capetown, South Africa for the development of precious metals small scale and artisanal gold mining value chain.
The agreement endorsed by the Ministry of Mines and Steel Development would deepen participation in the extractive industry and consolidate strategies in the development of programmes needed to exploit the expected benefits in the sector.
Chief Operating Officer( COO) and Executive Director Dukia Gold, Paul Beesley said the agreement “would bring about the establishment of a precious metals trading programme centred in Nigeria to service and support the Nigerian market and potentially use it as a basis to offer similar products to other African markets.”
He also said the partnership would assist in developing finance and technical support solutions to unlock Dukia Gold’s responsible sourcing of Dore’ strategies, including evaluation and development of new projects and supporting small scale and artisanal mining programmes.
He said the ultimate target is to produce world class good delivery bars and coins.
“Our commitment to work together with Dukia Gold will further promote and develop other important and relevant opportunities in the precious metals value chain in Nigeria and West Africa, through skills and knowledge transfer, capacity and capability building and the institution of beneficial engagements with host communities.
“These are challenging objectives, but we are confident that with the right relationships and working within the right enabling environment we can achieve these and more.
“Together with Philoro Global Trading AG, Switzerland, we are embarking on a long-term relationship and will use our combined successes to build and showcase what is possible. These incremental victories then will form the basis for encouraging further expansion of the vision through definitive commitments with other global entities whose capabilities will further add to a more sustainable Precious Metals Mining, Refining & Trading supply chain in Nigeria.”
Dukia Gold is listed on the Lagos Commodities and Futures Exchange (LCFE) and licensed to trade Good Delivery Gold products on the LCFE, thus making gold available for purchase and investment by Nigerians on the floor of the Exchange.
Also speaking at the event,President of Philoro, Mr Rudolf Brenner said the company was delighted to expand its presence and global vision in Africa through its partnership with Nigerian firm, Dukia Gold.
“Today’s signing is a milestone, but we believe is only a first step in a long relationship between the parties. The presence of the minister and indeed the ambiance of this gathering sends a positive message, that Nigeria is a mining investment destination. This is important for what this represents to all concerned. The collaboration between the two companies shows what is possible when you bring together open minds in an enabling environment. The teams have been working between Lagos, Abuja, London, Zurich, Vienna and Johannesburg to develop solutions that will benefit Nigeria, Nigerians, Dukia Gold and philoro Global. It is a true success story in the making about the value of diversity.”
In his remarks, Minister of Mines and Steel Development, Olamilekan Adegbite said: “This is a fundamental major step towards trading of gold and gold products in Nigeria. Dukia Gold has been a frontier company blazing trails where other people have not been. They have done so much to try and bring the value chain in the gold business, gold assets to ordinary Nigerians.”
