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Business News of Wednesday, 24 November 2021

Source: punchng.com

Osun produces first gold bar, raises team on illegal mining

Gold file photo Gold file photo

The Osun State Government on Tuesday announced the production of its first gold, saying it had adopted strategic measures to effectively handle volatile mining operations in the state.

Governor Adegboyega Oyetola made the disclosure in Osogbo, the Osun State capital, at an event to mark the day dedicated to the Federal Ministry of Mines and Steel Development at the ongoing South-West Local Governments Agriculture and Mineral Resources Trade Fair.

The governor, who was represented by his deputy, Benedict Alabi, explained that the strategies adopted included setting up a committee to handle mining issues and regulating mining activities by registering miners to guide against quackery, and illegal mining.

Oyetola added that holding meetings with the mining communities and the artisanal miners to sensitise them on relevant issues including security and a conducive environment was vital to the growth of the sector.

He added, “Recently, Osun produced the first gold through the Segilola Project. The above-mentioned comprehensive and strategic mechanisms will ensure seamless and productive mining activities.”

In his remarks, Minister for Mines of Steel Development, Mr Olamilekan Adegbite, harped on the need to add value to the country’s mineral resources.

He said, “If you add value to gold, it will create more wealth for our people, it will create revenue for the government, it will create employment for our people.”

“And at the same time, that knowledge will always be there and then we can produce what other people need instead of exporting raw ore and of course, which we did in oil and gas to our detriment.”