Western Goldfields Group Limited
 
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HISTORY...

 

WGG is a startup company of 9 separate companies with exploration licenses covering diverse solid minerals like iron ore, gold, tantalite, coal, limestone/marble, etc. In April 2009, these nine companies were acquired by Energy and Metal Industries Limited to form the Western Goldfields Group Limited.
The acquisition was spurred by the economic reason to consolidate the diverse licenses into a balanced portfolio that will reduce risk and position the emerging company to exploit emerging market opportunities in a global commodities market that is on a rebound. The acquisition also included Western Goldfields Limited – a key player in the emerging solid minerals industry of Nigeria.
The acquisitions increased the size of the company more than five-fold. The Group re-opened earlier exploration sites and has since invested over $100million in proving reserves of especially marble and opening up new coal reserves and in new plant and machinery.
The headquarters at Abuja currently coordinates mainly exploration activities at all exploration sites especially in the Kogi block now in partnership with the technical partners EMI and the Geological Institute of Ukraine. With sales of coal locked in for over 50 years with key industrial players in the manufacturing and generation sectors via LOIs, the market for the Group’s output seem assured in addition to domestic and export opportunities. These activities are projected to see WGG with a projected minimum turnover of $1bn with management, production, sale and distribution of coal and other minerals supporting thousands more jobs in businesses involved in the supply of equipment, goods and services.
Projections indicate that over 50% of all the coal mined in Nigeria will be produced by WGG before the middle of 2015 mainly via surface mine sites principally located in the Kogi and Enugu blocks. Most of the proposed coal to be mined will be used for the generation of electricity. The Group plans to process output from its lignite deposits in the Delta block into briquettes and other domestic power fuels for use mainly in the northern parts of Nigeria in keeping with her environmental protection initiatives.

 

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