The federal government said it has approved two licenses for the establishment of solid minerals refineries in Mowe in Ondo state and Abuja, Federal Capital Territory (FCT).
Minister of Mines and Steel Development, Mr Olamilekan Adegbite, who disclosed this to State House correspondents, said the two refineries would be refining gold for export.
“The Central Bank of Nigeria (CBN) has agreed to keep part of its foreign reserve in gold. The CBN will be the off-taker of the gold in Nigeria. We have licensed two refineries in Nigeria. One is in Abuja. One is in Mowe in Ogun State.
“They will refine gold and of course produce bdellium that the CBN can buy at international prices. This is also encouraging mining in Nigeria,” he said.
The minister said the Ministry of Mines and Steel Development had generated N5 billion for the country in 2019.