• Nigeria’s only listed mining firm to invest $100m in Nasarawa

    Multiverse Mining and Exploration Plc, the only listed mining company on the Nigeria Stock Exchange (NSE), is investing $100m in Nasarawa State, it has announced.

    The company has already invested over $70 million and has concluded plans to install a floatation plant worth $100 million, as a response to the call by the Federal Government for investors to add value to mineral resources before export.

    The Managing Director of the company, Ayedun Fasina, disclosed this when he led a delegation on a courtesy call on Nasarawa State governor, Abdullahi Sule in Lafia.

    Fasina announced that the company which has been operating for over ten years in the state and is hope to impact more on the lives of the people and to the overall development of the state.

    “We are happy to inform you that over 70 million dollars have been invested and right now, and in line with the FG policy on adding value to mineral resources being mined, an investment schedule of about one hundred million dollars to install flotation plant is on the ground.

    “I think it’s at the port now to be shipped in a few weeks and installation will start”.

    As a matter of fact, once we test-run the plant and the mining project, we plan to invite the President for the commissioning,” the firm’s MD told the governor.

    He assured the governor that with the success of the project, the only one in the country, a lot of foreign direct investments will come into Nasarawa State because the firm was in partnership with a province in China.

    “As a good corporate citizen, we are law-abiding and we are ready to work within the state.

    He announced that the company had a comprehensive community development agreement.

    “It’s even a community participatory and product sharing agreement in which we believe that we must, first of all, give back to the environment in which we operate and the people we are working with must also at the same time have the benefit and enjoy the resources God has given them,” Fasina stated.

    He, however, said that the firm sought the cooperation of the government towards protecting its investments in the state.

    Governor Sule on his part said that his administration determined to promote investments in the state.

    He explained that his biggest concerns were generating employment for the people of the state as well as generating revenue for the state.

    According to Sule, once the state indigenes were employed, they would have the opportunity to learn some technical skills.

    “The other area is the community where you operate and I’m glad you mentioned your corporate social responsibility about the area.

    “If the people are employed and they have a little money and you are a quoted company then people from Nasarawa State can also be shareholders in your company.

    “These are the three major concerns for me. As a state, then we know how much revenue the state will be generating,” he said.

    Sule while cautioning the company against giving individuals revenues meant for the local government and the state, directed them to ensure they remit such revenues into the coffers of the various levels of governance.

    The governor assured that government would do everything possible to ensure protection of investments coming into the state.

    He stressed that his administration is poised to partner with real investors that will come into partner with the state in order to promote economic activities, not just briefcase investors.

    Source: https://businessday.ng/real-sector/article/nigerias-only-listed-mining-firm-to-invest-100m-in-nasarawa/
  • Mining firm to invest $100m in Nasarawa

    Multiverse Mining and Exploration Plc, the only listed mining company on the Nigeria Stock Exchange,  is investing $100m in Nasarawa State.

    The Managing Director of the company, Mr Ayedun Fasina, made this known when he led a delegation on a courtesy call on Nasarawa State Governor, Abdullahi Sule, on Tuesday.

    Fasina hinted that the company, which has been operating for over ten years in the state, had already invested over $70m and concluded plans to install a floatation plant worth $100m, in response to the call by the Federal Government for investors to add value to mineral resources before export.

    “We are happy to inform you that over $70m have been invested and in line with the FG policy on adding value to mineral resources being mined, an investment schedule of about $100m to install floatation plant is on ground.

    “It is at the port now to be shipped in a few weeks and installation will start. As a matter of fact, once we test the plant and the mining project, we plan to invite President Muhammadu Buhari for the inauguration,” the firm’s MD told the governor.

    Fasina assured the governor that with the success of the project, lots of foreign direct investments would come into Nasarawa State because the firm was in partnership with a province in China.

    He said, “As a good corporate citizen, we are law-abiding and we are ready to work within the state. We want to inform you that we carried out a test on our export process and in those processes, we have come across quite a few pains. On the community level, we have a very robust comprehensive community development agreement.”

    Source: https://punchng.com/mining-firm-to-invest-100m-in-nasarawa/

  • Multiverse Mining Exploration Plc Appoints Mr Mamman Bukar Zargana as Non-Executive Director

    Multiverse Mining and Exploration Plc (the Company) hereby notifies The Nigerian Stock Exchange (The Exchange), its shareholders and other stakeholders that at the 38th Board of Directors meeting held on the 1oth day of July, 2018, Mr. Mamman Bukar Zargana was appointed as a Non-Executive Director of the Company with effect from the 1St day of August, 2018.

    Brief Profile of Mr Mamman Bukar Zargana

    Mamman Bukar Zargana is currently the Managing Director, Chief Executive Officer of Mainstreet Capital Limited. His experience in investment banking spans almost twenty (20) years, with in-adept investment banking practice, industry knowledge, strong corporate governance and compliance strategy.

    His core competence is in Leadership and Management; Valuation and Fairness Option; Portfolio/Funds Management; Public Offers-Underwriting; Mergers and Acquisition; Privatization and Public Partnership; Strategic Advisory Services and Debt/Equity Capital market.

    Mamman Bukar Zargana is a Non-Executive Director in Platform Capital Limited and Multiverse Mining & Exploration Plc. He is also an Honorable Member (Part-time) of Investments and Securities Tribunal (IST).

    Zargana has served as adviser to companies involved in exploiting various investment opportunities in Nigeria. Investment areas include sectors like real estate, financial services, mining, manufacturing, agriculture and agro-allied, technology and telecommunications. He has variously advised on the restructuring of corporations, divestments, capital raisings and securitizations.

    He holds a M.Sc. International Finance & Economic Policy, UK; Master in Business Administration, Lagos State; B.Sc. Accountancy, Borno State. Other certifications’ include Advanced Certificate in Investment Banking Switzerland; Fellow of the Chartered Institute of Capital Market Registrars (ICMR); Fellow, Institute of Chartered Economist of Nigeria (ICEN); Associate, Nigerian Institute of Management (NIM); Member, Institute of Directors of Nigeria (IoD); and Member, Nigerian Capital Market Institute (NCMI).

    Source: https://www.proshareng.com/news/Stock%20%20Analyst%20Updates/Multiverse-Mining-Exploration-Plc-Appoints-Mr-Mamman-Bukar-Zargana-as-NonExecutive-Director/41410
  • Multiverse Plc Announces Joint Quarry Production Agreement with Chinese Firm

    The Company has notified The Exchange that it has signed an agreement with Unicontinental Engineering Company Limited and International Chinese Quarry Company with a view to entering into joint quarry production across the country.

    Multiverse has signed the long term joint production agreement with the company for granite stones in Multiverse’s entire quarry sites. Multiverse is of the opinion that this strategic arrangement which covers Technical, Financial, Equipment and production will no doubt ensure continuous production of granite chippings. Source: https://www.proshareng.com/news/Investors-NewsBeat/Multiverse-Plc-announces-Joint-Quarry-Production-Agreement-with-Chinese-Firm/20140
  • Multiverse Gets Mining License

    Multiverse Plc, a non-metallic mineral mining company, has secured approval to commence mining operations in Nigeria. with a mining licence which covers 14 cadastre units within the company’s exploration licence 3187 and is subjected to renewal over a 25-year period.

    The new mining licence (Reg No. ML14646) was granted to the company after an extensive exploration exercise and geographical study that confirmed economic quantity of Lead/Zinc Ore in the Mining Area.

    A statement released by the Nigeria Stock Exchange (NSE) listed company over the weekend revealed that the license approval represents significant milestone in its quest to position itself as a leading mining outfit in Nigeria.

    “It prospects that this will lead to a sustained and world class returns on investment (ROI) for our shareholders in the medium and long term,” Multiverse said.

    The company believes the expansion of its operation into the mining of solid minerals will deliver high returns to shareholders in the nearest future.

    Multiverse, a leader in the production of granite stones, has expanded into the solid minerals mining with focus on Lead Ore, Barite Ore and Copper Ore. Its core business line spans through exploring, extracting, prospecting, boring refining and drilling for producing and quarry mining of stones and rocks into different configuration and classification especially granite chipping and stone dust

    Meanwhile, a mining lease license was also granted to Allied Mining Limited. Allied specialises in the exploration of Gold, Silver, Copper, Tin, Columbite, Lead/Zinc, among others.

    Director General of the Nigerian Mining Cadaster, Engineer Mohammed Amate said the award of the license to the two companies attest to the fact that both firms had qualified both technically and financially and had met the minimum requirements by law to be issued mining leases.

    Source: http://venturesafrica.com/blog/2012/11/26/multiverse-gets-nigerian-mining-license/
  • Meet the shortlisted CEOs for BusinessDay Top CEOs

    Meet the shortlisted CEOs for BusinessDay Top CEOs and Next Bulls Awards 2020 in partnership with The Nigerian Stock Exchange (NSE) tagged “Advancing against all odds”. Date: September 5, 2020 Time: 3:30pm source: https://www.linkedin.com/feed/update/urn%3Ali%3Aactivity%3A6702584464104534016/?actorCompanyId=69037490  
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