Mining Firm To Invest $100m In Nasarawa State

Multiverse Mining and Exploration Plc, the only listed mining company on the Nigeria Stock Exchange, is investing $100m in Nasarawa State.

The Managing Director of the company, Mr Ayedun Fasina, made this known when he led a delegation on a courtesy call on Nasarawa State Governor, Abdullahi Sule, on Tuesday.

Fasina hinted that the company, which has been operating for over ten years in the state, had already invested over $70m and concluded plans to install a floatation plant worth $100m, in response to the call by the Federal Government for investors to add value to mineral resources before export.

“We are happy to inform you that over $70m have been invested and in line with the FG policy on adding value to mineral resources being mined, an investment schedule of about $100m to install floatation plant is on ground.

“It is at the port now to be shipped in a few weeks and installation will start. As a matter of fact, once we test the plant and the mining project, we plan to invite President Muhammadu Buhari for the inauguration,” the firm’s MD told the governor.

Fasina assured the governor that with the success of the project, lots of foreign direct investments would come into Nasarawa State because the firm was in partnership with a province in China.

He said, “As a good corporate citizen, we are law-abiding and we are ready to work within the state. We want to inform you that we carried out a test on our export process and in those processes, we have come across quite a few pains. On the community level, we have a very robust comprehensive community development agreement.”