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Australian mining syndicate discovers high-grade nickel in Nigeria

30 Aug 2016, 06:59 pm
Financial Nigeria
Australian mining syndicate discovers high-grade nickel in Nigeria

News Highlight

- The high-grade nickel discovery is in Dangoma, Kaduna State.

Nigerian Minister of Solid Minerals, Kayode Fayemi

A private mining syndicate has reportedly discovered high-grade nickel in Dangoma, Kaduna State, according to a report in The Australian on Monday.

The discovery, called Titan, is regarded as highly unusual because high-grade nickel was found in small balls up to 3 millimeter in diameter on shallow soils. This suggested that the nickel balls were the surface expression of a much larger hard-rock nickel field.

“The nickel balls, rumoured to grade better than 90 per cent nickel and thought to be a world first given their widespread distribution, offer the potential for early cashflow from a simple and low-cost screening operation to fund a full assessment of the find that has exploration circles buzzing,” according to the Australian national newspaper.

The private mining syndicate is reportedly led by Hugh Morgan, a former CEO of the Western Mining Corporation (WMC), which was once Australia’s biggest nickel producer. (WMC was taken over by BHP Billiton, the world’s largest mining company by market value, in 2005).

According to The Australian, Morgan declined to comment on the Nickel discovery, stating that it was for the Nigerian government to make an announcement.

Kayode Fayemi, the Minister of Solid Minerals, is scheduled to join Morgan and other speakers next month at a three-day Africa Down Under mining conference in Perth, Australia. About 12 other African mines ministers are also expected at the conference.

Fayemi is to speak first on Wednesday, September 7th, and Morgan will follow along with consulting geologist, Louisa Lawrance. Morgan is listed to speak as a director of the private company Comet Minerals, according to The Australian.

Earlier this month, Fayemi said that the federal government is seeking to raise $7 billion to kick-start Nigeria’s mining sectors, targeting minerals such as iron ore, lead, zinc, bitumen, nickel, coal, and gold.


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