Bluesach Matrix Limited in Nigeria has announce acquisition of mining sites from other mining companies that were inactive.
The move is a step in the country’s efforts to diversify its economy away from being a mono economy, primarily dependent on a single industry. Nigeria has historically been heavily reliant on the oil and gas sector, which can make its economy vulnerable to fluctuations in oil prices. Acquiring mining sites for the extraction of solid minerals opens up new opportunities and revenue streams.
Mining operations
Bluesach Matrix Limited’s Chairman Mr. Kingsley Anajemba said that the company’s experienced personnel suggest a strong foundation for their mining operations. He also noted that the success of this endeavor will depend on factors such as market demand, operational efficiency, and the company’s ability to attract investment and manage resources responsibly.
By expanding mining operations and attracting investors, Bluesach Matrix Limited aims to create opportunities, thereby reducing unemployment and enhancing local content in the industry. This is an important step in boosting the nation’s economy and reducing capital flight. The firm has established a strategic move that will include setting up a commercial bank to finance mining operations to facilitate investment in the sector.
“After successful exploration and mining of the acquired sites should be able to account for about 100 Million metric tons of granitic pegamatite. We estimate to mine and refine about 3,600,000.00 Metric tonnes of lithium from over 20 mining sites with the financial projection estimates of the company to hit a billion dollars in the next four years,” said Mr. Kingsley.
