La Mancha, a Luxembourg-Incorporated Private Gold Development & Mining Company has signed an Expression of Interest Agreement with Ministry of Mines & Steel Development (MMSD) to invest in gold mining in Nigeria, in a ceremony coordinated by the Egyptian African Arab Co. for Devpt (EGAAD) in Cairo, Egypt.
Minister of State, Ministry of Mines & Steel Development, Dr Uchechukwu Sampson Ogah signed on behalf of the Federal Government of Nigeria, while the Chairman of La Mancha, Naguib Sawiris, signed on behalf of the Company. #InvestNigeria
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.
He stated that as a company, La Mancha was continually looking at new opportunities to expand its investment in Gold Mining across Africa, adding that Nigeria possessed enough gold deposits to attract investment.
Min of State (MMSD), Dr. Ogah noted that Nigeria stands to benefit immensely from the partnership with La Mancha, with portfolio companies such as Endeavour Mining, Golden Star Resources & others, & with a market capital in excess of US$10bn & over 1.2Moz of gold production. “Our ultimate goal is to attract investors with the technical and financial competence to invest in our solid minerals sector, from detailed exploration to mining, development, processing and refining to producing standard ores in Nigeria.” — Dr Uchechukwu Ogah.