TradeInvestNigeria Staff
Posted on: Thu, 17 Apr 2008
With a N1 billion investment, a Chinese company arrived in Osun State to commence with the exploration and mining of gold deposits in the state.
The Yan Tai Non-ferrous Metal Company of Shanghai, led by its Chairman, Zhang Jin Bin told Osun State Governor, Prince Olagunsoye Oyinlola in his office in Osogbo that the company was in Osun to commence business.
Prince Oyinlola, during his numerous trips to China in the last four years, had called for foreign technical participation in the mining of the gold deposits in Osun for which the state government already has a licence.
The Chinese company said its previous trip to Osun State's gold mine and the various analyses it conducted on samples it took to China convinced it that it should start with "100% business".
According to the company's chairman, the seriousness of the governor on the agreement earlier signed by the company with the state government and the hospitality displayed by the local people during its earlier visit were pointers that the company could do business with Osun State.
"We are not here to find out whether there is gold or not. We are here to do business. We have come with engineers and other staff with the necessary equipment. In the next one and a half years, the company plans to commit about N1 billion to the project," he said.
He all so used the occasion to introduce the General Manager appointed for its Osun State operations, Mr. Wang Ping, who told newsmen that the company would recruit local people as staff.
The local staff, he said would be given local as well as overseas training in China for them to be adequately empowered to function optimally.
In his response, Prince Oyinlola, who was represented at the ceremony by the Secretary to the State Government, Alhaji Fatai Akinbade, expressed delight at the decision of the Chinese company to start business immediately in the state.
He added that the government through its mining company, LivingSpring Mineral Promotion Company Ltd, would provide quality partnership to the Chinese company in the course of doing its business in the state.
The governor also congratulated both the state and the company for the breakthrough which he noted would shore up the revenue base of the state and create meaningful employment for its teeming skilled youths.
