The agreement, signed in Abuja, represents the culmination of months of negotiations and highlights growing investor confidence in ongoing reforms within the sector. “This is a landmark deal, poised to transform the mining sector and increase its contribution to the nation’s GDP,” he said. Executive Secretary of SMDF, Fatima Shinkafi, described the agreement as the largest project the fund has undertaken since its establishment. It is a $1.3 billion capital expenditure project, and SMDF has come of age to sign this deal with AFC,” she said. A joint strategic investment vehicle was also established to accelerate exploration and development of mining assets once exploration campaigns are complete.

Source: Punch March 01, 2026 19:09 UTC