Japaul Gold eyes major commercial mining expansion in Nigeria

Japaul Gold & Ventures Plc, a leading Nigerian dredging and mining firm, has kicked off test runs at its pilot gold processing plant at the Libeli Mine, signaling its entry into full-scale gold production.

In a statement to the Nigerian Exchange, Japaul Gold highlighted that the milestone follows more than four years of geological surveys, regulatory approvals, and acquisition of statutory mining titles. The company currently holds four gold mining leases across Taraba, Niger, and Osun States.

The company plans to commence commercial operations in May, positioning itself as a key player in Nigeria’s emerging gold mining sector.

Pilot plant poised for growth

The newly operational pilot facility can process 18,000 to 21,000 grams of gold per month, handling both hard-rock and alluvial deposits. 

The company plans to scale production dramatically with an industrial-scale processing plant slated for the fourth quarter of 2026. Once online, the new facility is expected to handle 210,000 grams monthly, reinforcing Nigeria’s potential as a rising gold mining hub in Africa.

Technical operations are led by Canadian Managing Director (Mining) David Dawson, who brings more than 30 years of experience in large-scale mining across North and South America.

Gold reserves and long-term ambition

Founded in 1994 by Chairman Jegede Abiodun Paul and listed on the Nigerian Exchange, Japaul Gold & Ventures has evolved into a diversified group spanning gold, lithium, copper, maritime logistics, dredging and construction.

The company controls mining leases covering more than 100 square kilometers and holds over 300 square kilometers of exploration licenses across multiple states. Japaul said one of its gold assets contains approximately 650,000 kilograms of inferred reserves, with ongoing exploration aimed at increasing proven reserves to 30 million ounces by 2028.

Current estimates show 20,576 kilograms of gold reserves from 15% completed exploration across licensed mines, which the company values at roughly $1.8 billion at prevailing gold prices.

As global gold prices remain elevated and investor appetite for African mining assets grows, Japaul’s transition into commercial production underscores Nigeria’s broader ambition to unlock value from its solid minerals sector and reduce dependence on crude oil exports.