Tag: GOLD

World’s largest gold deposit found; worth over US$80bn

Aminu Imam
Gold deposit found

A deposit of high-quality gold ore containing around 1,000 metric tons (1,100 US tons) of the precious metal has been discovered in central China, according to Chinese state media. Valued at approximately 600 billion yuan, or US$83 billion, the discovery could be considered the largest and most lucrative reservoir of gold ever uncovered, surpassing the 900 metric tons estimated to lie within the mother of all gold reserves, South Deep mine in South Africa. The Geological Bureau of Hunan Province announced the detection of 40 gold veins within a depth…

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FG launches National Gold Purchase Programme to boost Naira’s value

Aminu Imam

The Federal Government yesterday announced the official launch of the National Gold Purchase programme, (NGPP), which aims to increase the countrys reserves and boost the value of the Naira. Minister of Solid Minerals, Dele Alake, revealed this information through his official X account, when he presented the gold bars to President Bola Tinubu at the Presidential Villa in Abuja. He explained that the bars were sourced from artisanal and small-scale gold miners and refined by an agency of the Ministry, the Solid Minerals Development Fund. The Minister also disclosed that…

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Gov. Matawalle of Zamfara commends Umahi for dumping PDP, take a swipe at S/South Governors

Abdul-Azeez Ahmed Kadir

Governor Muhammed Bello Matawalle of Zamfara has commended his Ebonyi counterpart, Governor Dave Umahi, for defecting from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC). The commendation was contained in a press release signed by Zailani Bappa, the Special Adviser to Governor Matawalle on Media, and made available to journalists in Gusau. Matawalle, who also belongs to the PDP, said he would rather commend Umahi for his bold decision rather than condemn him because everyone feels welcome only in a house where he feels comfortable. He said…

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