Mining: Yobe Gov’t Partners 5 Investors

The Yobe State government has signed a memorandum of understanding and partnership with the Nigerian Geological Survey Agency and four local and international investors to drive exploration and value addition in the state mineral sector. The four investors; GeoScan Technology Limited, Revolve Mining Company, Deep Strata and Minepro and Energy signed an agreement with the […]

The Yobe State government has signed a memorandum of understanding and partnership with the Nigerian Geological Survey Agency and four local and international investors to drive exploration and value addition in the state mineral sector.

The four investors; GeoScan Technology Limited, Revolve Mining Company, Deep Strata and Minepro and Energy signed an agreement with the state government for sustainable mining and industrial growth in Yobe.

The Managing Director of the Yobe Mining Development Company Engr. Bamodu Yerima, signed the MUOs on behalf of the state government at the Stakeholders Forum on Mining Development held at Government House Damaturu.

Speaking shortly after the MOUs, Governor Mai Mala Buni of the state, said Yobe is richly endowed with mineral resources such as limestone, gypsum, trona, diatomite, kaolin, phosphate, granite, silica and several other untapped resources.

He said the state government has prioritized industrialization and resource optimization as pillars of sustainable growth transforming its mineral endowments into viable enterprises.

The Governor said the MOUs between the state government and investors were meant to diversify the state economy, create jobs, and attract credible investors to unlock the potential of Yobe soil and minerals.

‘‘The time has come to turn these hidden potentials into productive assets that will create jobs, generate wealth, and advance the socioeconomic development of Yobe state.

‘‘When our mineral resources are properly managed Yobe can become a major driver of solid minerals, provide jobs for our teeming youths and improve our internally generated revenue.

In his remark, the Managing Director of Yobe Mining Development Company, Engr. Bamodu Yerima, said the company is a fully structured institution, ready to engage investors, financiers and technical partners both locally and internationally.

Speaking, one of the investors, The Founder/CEO of Geoscan Technology Limited, Ulrich Eichhorn, said the company has partnered with the Yobe government to explore the state’s solid mineral resources. He said the partnership aims to advance solid minerals exploration, exploration and judicious use of revenue.