Exclusive interview with the Kursi Group, diamond sponsors of the upcoming Nigeria Mining Week.
Welcome to Nigeria Mining Week! Please give us some background on the Kursi Group and its activities. The company already has a proud history.
Thank you for having us. Kursi Group is a proudly Nigerian conglomerate with close to two decades of operations. The Group is well-diversified in commodities trading, real estate and construction, information technology and mining. Our flagship subsidiary is Kursi Investments Limited with a focus on mining and jewellery manufacturing. Kursi Investments Limited is a proud member of the Responsible Jewelry Council (RJC), a testament to our commitment to responsible and ethical practices in our operations.
Any mining projects in Nigeria that you are involved in that you are particularly excited about currently?
We’re currently involved in a few key projects. We’re also working on exploring other critical minerals that will contribute to sustainable development.
Where are you focusing for future growth?
Our focus for future growth remains beneficiation and value addition. We are trying as much as possible to domesticate our value chain in-country. Beyond mining, we are strengthening our processing and refining capacity to boost outputs and ensure value enhancement. All these will be done with a focus on responsible and ethical sourcing.
How important is the mining sector for the future of Nigeria’s economy in your view?
The mining and quarrying sector consists of crude petroleum and natural gas, coal mining, metal ore and quarrying and other minerals sub-activities. This sector grew nominally by 34.14% (year-on-year) in Q1 2024. Metal ores exhibited the highest growth rate of all the sub-activities at 220.87%, followed by crude petroleum and natural gas activity at 33.23%. Crude petroleum and natural gas were the main contributors to the sector with a weight of 98.45% in Q1 2024. (NBS Report). Unfortunately, our focus sub-sector which is metal ores contributed an insignificant portion to the GDP. With a renewed focus on the solid minerals sector, especially the critical minerals such as lithium and others that will power the renewable energy industry, the sector will pull its weight and start contributing significantly to the overall GDP.
What are the particular challenges in Nigeria and the region?
One of the main challenges is insecurity, which poses a risk to mining operations. Additionally, there are infrastructural challenges and the need for more streamlined regulatory processes. However, with ongoing government efforts and increased collaboration between the public and private sectors, we believe these challenges can be effectively addressed.
Is the Nigerian government doing the right things to attract investment and exploitation of the country’s mineral wealth?
The government alone cannot do it, which is why we should commend initiatives such as Nigeria Mining Week for their tenacity in holding the annual event over the years.
You are a new diamond sponsor for Nigeria Mining Week. What motivated you to partner with the event?
As the foremost mining event in the country, we also seek enduring partnerships to deepen our footprints in the sector and share our story to encourage others who are coming behind. We seek collaboration with other stakeholders in our quest for responsible souring and sustainable mining operations.
What will be your message at Nigeria Mining Week?
Our message is clear: responsible and sustainable mining is not just good practice, it’s good business. At Kursi Group, we believe that our operations can be a force for good, contributing to economic growth while ensuring environmental stewardship and community development. We’re here to collaborate, innovate, and lead by example.
How important is this event on the regional mining calendar in your view?
Nigeria Mining Week is a pivotal event in the region’s mining calendar. It brings together stakeholders from across the industry, offering a platform to discuss challenges, opportunities, and innovations. For us, it’s an invaluable opportunity to engage with peers, government officials, and investors, all working towards a shared goal of advancing the mining sector in Nigeria and beyond.
Anything you would like to add?
We’re excited about the future of mining in Nigeria and look forward to playing a key role in its development. Our participation in Nigeria Mining Week underscores our commitment to this sector and to the sustainable growth of Nigeria’s economy. We’re ready to collaborate and drive meaningful progress.