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Junior Nigerian firm wins African Mining Indaba contest

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Thor Exploration Limited a junior Nigerian mining firm has emerged winner of the 2018 Investment Battlefield organized by African Mining Indaba for their gold exploration project in the Southwest state of the country.

The company was selected as the most promising of the 22 junior mining companies that participated in the battlefield, after beating Algold Resources, a Mauritanian gold explorer and developing company to the second place.

The Investment Battlefield contest involves pitching for a project to a panel of judges made up of leading analysts and investors.

Read:New DRC mining code meets stiff resistance from miners

Chief executive officer of Thor Exploration Limited Mr Segun Lawson said that the panel of judges were keen on whether project was economically robust, they were also looking at the progressive Mining Code of Nigeria and the regulatory framework of the Ministry of Mines and Steel Development, as well as the potential to increase its size through further exploration.

“Identifying the best emerging mining companies for investors and supporting the development of new projects is a critical part of Mining Indaba,” says Harry Chapman, director of Content for the Mining Indaba.

The 2017 Investment Battlefield competition took this one step further. Over a one day session, 16 mining companies pitched their projects on stage to a panel investor judges, who provided live feedback.

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