Niger’s military government has signed a landmark deal with UAE-based Suvarna Royal Gold Trading LLC to establish the country’s first gold refinery, marking a significant step towards economic sovereignty. The partnership will see the construction of a gold refinery, jewelry manufacturing unit, and gemstone processing center, all managed by the newly formed Royal Gold Niger SA.
The agreement was formalized at Uranium House in Niamey, with Niger’s Minister of Mines, Colonel Abarchi Ousmane, and Minister of Budget, Mamane Sidi, in attendance alongside Suvarna’s CEO, Pattni Kamlesh Mansukhal Damji. Minister Ousmane hailed the deal as a “structural revolution” for Niger’s gold industry, emphasizing that the country’s gold will now be processed locally for the benefit of its citizens ¹.
“This signature embodies a firm political will to make the mining sector a lever of sovereignty, prosperity, and national dignity,” Ousmane stated. The minister highlighted the importance of structuring the artisanal gold mining sector, protecting it from illicit networks, and creating jobs and tax revenue for the country ¹.
The project aligns with Niger’s National Council for the Safeguarding of the Homeland (CNSP) priorities, focusing on national resource development across the value chain. With Niger’s gold production reaching 2,000 kg in 2022, according to the U.S. Geological Survey, this initiative aims to capture the value chain, create jobs, and boost the economy.
However, the deal has raised eyebrows due to CEO Pattni’s controversial background, including sanctions from the United States and the United Kingdom for alleged involvement in gold smuggling and money laundering networks. Despite this, Niger’s government has welcomed the partnership, emphasizing its potential to drive national prosperity and independence ² ³.