Nigeria guarantees asset protection as Dukia, SGS Bateman seal polymetallic mining deal

2026-02-22 - 17:26

By Gift ChapiOdekina, Abuja Nigeria’s Minister of Solid Minerals Development, Dele Alake, has assured foreign investors of strong legal protection for mining investments, citing the country’s adherence to the Cape Town Convention on International Interests in Mobile Equipment. Alake made the remarks at the signing of an Engineering, Procurement, and Construction Management (EPCM) Memorandum of Understanding between Dukia Gold & Precious Metals Refining Company Limited and SGS Bateman during the Investing in African Mining Indaba in Cape Town. “Being a signatory to the Cape Town Convention provides international financiers and service providers with robust assurance that mining equipment and mobile assets deployed into Nigeria are protected under globally recognized legal frameworks,” the minister said. The convention standardizes transactions involving movable property, establishes rules for registering security interests, leases, and liens, and provides legal remedies in case of defaults, including repossession and bankruptcy clarity. Alake described the Dukia–SGS Bateman partnership as a major milestone that underscores Nigeria’s rising prominence in the global mining value chain. He highlighted government reforms, including streamlined licensing, investor-friendly fiscal incentives, and infrastructure prioritization, which have strengthened sector growth and mining’s contribution to GDP. The project, known as the Dukia–Arinola Mineral Resources Development Project, covers 184 square kilometres across Ose and Owo Local Government Areas of Ondo State within the Igarra Schist Belt. It is designed around a scalable polymetallic processing strategy, supporting phased growth from early-stage operations to large-scale industrial capacity while prioritizing local value addition and a Mine-to-Market model. “The initiative will stimulate economic activity, create jobs for skilled and semi-skilled workers, deepen local procurement, and contribute to Nigeria’s goal of a $1 trillion economy by 2036,” Alake said. He also encouraged participation from world-class mining contractors, engineering firms, equipment manufacturers, and capable Nigerian companies to enhance local content. Dukia Gold Chairman, Tunde Fagbemi, described the MoU as a strategic step toward feasibility-driven execution and long-term mineral beneficiation. “This MoU marks the beginning of a structured EPCM partnership to advance the Dukia–Arinola Project toward feasibility and disciplined execution,” he said. Dukia Gold operates a mine-to-market ecosystem covering exploration, responsible mining, refining, bullion trading, and digital gold products, while SGS Bateman brings global engineering and mineral processing expertise to the partnership. The signing signals both the private sector’s confidence in Nigeria’s mining reforms and the government’s commitment to positioning the sector as a key driver of GDP, industrial competitiveness, and foreign investment.