The government of Niger and the Emirati company Suvarna Royal Gold Trading signed an agreement on Wednesday in Niamey to establish a gold refinery and gemstone processing units in Niger.
The agreement was signed by Niger’s Minister of Mines, Commissioner-Colonel Abarchi Ousmane, and Suvarna’s Chairman and CEO, Pattni Kamlesh Mansukhal Damji.
The partnership will lead to the creation of a new entity, Royal Gold Niger SA, tasked with developing a gold refinery, a jewelry manufacturing unit, and a gemstone cutting and polishing center on Nigerien soil, according to the Minister of Mines.
Under the terms of the agreement, the Nigerien state will hold a 45% stake in Royal Gold Niger SA and will benefit from the technical expertise of its Emirati partner.
Suvarna’s CEO welcomed the strategic partnership with Niger, praising the authorities’ commitment to locally adding value to national resources. He said he was honored to take part in what he described as “a new chapter” in the country’s economic history.