Japaul Gold & Ventures Plc has commenced test runs of its pilot gold processing plant located in Libeli, Niger State.
This was disclosed in a notice signed by Company Secretary, Chidimma Okolo, and addressed to the Nigerian Exchange Limited (NGX) and the investing public on Tuesday, February 17, 2026.
The development marks the company’s transition into active mining and gold processing at its Libeli Mine site.
What they are saying
Japaul Gold stated that at full capacity, the pilot plant is designed to process between 18,000 and 21,000 grams of gold per month.
According to the company, the newly commissioned facility is equipped with advanced technology capable of extracting gold from both hard-rock and alluvial deposits.
- “Japaul Gold & Ventures Plc (the “Company”) is pleased to formally notify the Nigerian Exchange Limited (NGX) and the investing public of the successful delivery and commencement of test runs for its pilot gold processing plant,” the statement said.
- “This operational phase is the strategic result of over four years of intensive geological exploration, acquisition of statutory mining titles, and comprehensive regulatory approvals.”
The company added that it holds a portfolio of four gold mining leases spanning Taraba, Niger, and Osun States.
- “Upon full installation at the Libeli site, commercial gold production is scheduled to commence in May 2026.”
Backstory
Interest in gold processing has been on the rise as Nigeria intensifies efforts to reposition itself as a leading minerals processing hub in Africa, shifting away from the export of raw minerals.
- In January 2026, the Federal Government announced the commencement of operations at a high-purity gold refining plant in Lagos.
- Authorities also disclosed progress on three additional gold refineries at various stages of development nationwide, alongside a $600 million lithium processing plant in Nasarawa State ready for commissioning.
Minister of Solid Minerals Development, Dele Alake, noted that emerging lithium and gold processing projects are positioning Nigeria as a key global partner in supplying minerals critical to the green energy transition, including electric vehicles, renewable energy storage systems, and advanced manufacturing.
More insights
Japaul Gold further disclosed plans for an industry-scale processing facility scheduled for delivery in the fourth quarter of 2026, in line with its strategic roadmap to increase annual production capacity.
- “This high-capacity plant will significantly expand the Company’s output, with a projected monthly processing volume of 210,000 grams.”
The company said operations are being led by its Canadian Managing Director (Mining), Mr. David Dawson, a mining professional with over 30 years of experience in large-scale operations across North and South America, supported by a team of expatriates and technical specialists with experience in African gold mining.
It also noted that its corporate governance structure has been strengthened under the chairmanship of Mr. Segun Oloketuyi, alongside Acting Group Managing Director Mr. Henry Alakhume and Chief Financial Officer Mr. Adegboyega Adebukunola.
- “The Board is comprised of resourceful management technocrats dedicated to steering Japaul Gold & Ventures Plc toward a new era of growth, operational excellence, and shareholder profitability,” it says.
What you should know
Gold prices are expected to maintain an upward trajectory in 2026, with projections of a 15–30% increase, according to a recent outlook by the World Gold Council.
The precious metal delivered a strong performance in 2025, recording more than 50 all-time highs and generating returns exceeding 60%.
