Nigeria’s First Gold Refinery Scheduled to Be Ready Next Year

A casting mold filled with molten gold sits above a melting vat during the manufacture of gold ingots at the Suzdal gold mine, operated by Nordgold NV, in Semey, Kazakhstan, on Tuesday, June 7, 2016. Nordgold, which has its stock traded in London in the form of general depository receipts, wants a more advanced listing in the city to better attract international investors.Photographer: Andrey Rudakov

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December 13, 2018 at 12:00 PM EST

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Nigeria’s first gold refinery, located in the southwestern state of Ogun, is scheduled to be completed by the end of June, according to Kian Smith Trade & Co Ltd., the local company developing it.

The refinery will initially be able to produce 3 metric tons of gold each month, and 1 ton of silver, Kian Smith said in a statement. The company said it will supply the nation’s central bank, as well as the jewelry and electronic industries, and source its gold from states such as Zamfara, Kebbi and Kwara.

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