By Gabriel Ewepu

Indigenous mining firm, Promethean Resources, has commenced Nigeria’s first tin smelting plant in Gurum, Plateau State with an initial investment of about $20 million. This was disclosed at the weekend by the Managing Director of the company, Mr. Demola Gbadegesin, during a visit of the Minister of Mines and Steel Development, Mr. Musa Sada, to the company’s office in Abuja.

Gbadegesin said the Tin smelting plant was initiatedby the company to fast track industrial revolution in the country, as the commodity has huge economic potential. He said: “Promethean Resources has commenced plans to establish the first Tin smelter in Nigeria in over 20 years. We are at the feasibility stage right now.

The project as whole will cost $20 million and the completion period will be 18 months. For us,tinis the one commodity with all of those things come together. “The Tin smelter will allow Promethean to produce 99.9 percent pure tin ingots as well as products such as tinplate, tin solder, and others. The project has the potential to generate over $300 million in foreign exchange by the third year. Our smelter will use electric furnace technology, which is the cleanest technology available for smelting.

“We are embarking on an expansion programme targeting a minimum monthly production of 500 metric tonnes of high-grade tin concentrate by Q42015. Tin has various applications locally and internationally including electronics, food packaging, automobile manufacturing and assembly, solar panels and a host of others.”

To this end, Gbadegesin said the company has so far invested over $20 million in its operation and employs of over 90 per cent of Nigerians. “So far, we have invested over $20 million in our operation. We are producing high grade Tin concentrate from our operation in Gurum, Plateau State, and two other sites which will soon start producing.

“We have employed quite a number of people at our various sites both indigenous and foreign, and 90 per cent of our workforce is Nigerian, and we have plans for a bigger one in the future,” he added. Responding, Sada promised to consider the demands made by Promethean Resources, and also commended the company for its investment in the industry.

“The presentation made by Promethean Resources is a clear manifestation and believe to move the solid minerals sector forward. It is commendable for the company to establish a tin smelting plant in Nigeria, and it will stop job exportation. “We are ready to give you a waiver, and we will look at the request for more mineral titles, and we will consider the operation, tonnes of tin exported and others. If you can give more jobs to Nigerians you deserve some support,” Sada stated.