The Nigerien government, meeting Thursday, May 19 in the Council of Ministers, adopted a draft decree approving the mining agreement between the State of Niger and the Ideal Business Trading Company (IBT) SARL, for the research permit “DJADO 12 for gold and related metals, in the Commune of Djado in the department of Bilma in the region of Agadez, indicates a press release issued after the Council.
According to the terms of the agreement, the company IBT undertakes to invest within three years following the signature of the said agreement, a minimum amount of 2,000,000 US dollars, or approximately 1,200,000,000 CFA francs for the realization of its activities.
In addition to tax revenue, the Nigerien authorities expect in the immediate future, with this project, the creation of 20 jobs, the contribution to the local development of the municipality in which it will conduct its activities to the tune of 6,000,000 FCFA per year, as well as the contribution to the capacity building of the agents of the Administration of mines and geology up to 6,000,000 FCFA per year, details the press release.
Niger has one of the richest subsoils in sub-Saharan Africa, highly coveted by foreign investors. The country, which is keen to boost the development of its mining sector, regularly signs mining agreements for the allocation of exploration permits.