Charity Nwakaudu, Abuja

A leading Luxembourg private gold development and mining company in Cairo, Egypt, Messrs La Mancha Incorporated, has signed a deal with Ministry of Mines and Steel Development to invest in gold mining in Nigeria.

Minister of State, Mines and Steel Development, Dr. Uchechukwu Sampson Ogah, said with the signing of the expression of interest, efforts to attract big investors into the sector have started yeilding desired result.    

Related News

Ogah expressed satisfaction that with the collaboration between the Federal Government and La Mancha Holdings Incorporated, with portfolio companies such as Endeavour Mining, Golden Star Resources and Altus Strategies among others and with a market capital in excess of about US$10bn and over 1.2Moz of gold production.

He said Nigeria stands to benefit immensely from the partnership, noting that the collaboration would further cement African brotherhood in a way that ensures development within the continent using its abundance gold resources.

Chairman, La Mancha, Naguib Sawiris, disclosed that the signing of the document was its way of formally expressing the Company’s interest to begin earnest operations in Nigeria.