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Future Gold Mining in Nigeria. The biggest roadblock to gold mining by large prospectors is the lack of information on Nigeria’s gold mining activities by the government. Another factor is that small-scale miners do not keep adequate records of the gold that they have discovered. As a result, the value of the nation’s gold is minimized.

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Yet, there is gold in Nigeria. The proof is that 1.4 metric tons of gold were mined in the early 1930’s. However, in order for gold mining companies to feel secure enough to prospect in Nigeria, information on the amount of gold being mined must be made available.

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The Nigeria Uranium Mining Company (NUMCO) was a parastatal organization that controlled the exploration and mining of uranium in Nigeria and was a public/private partnership with Total Compagnie Minière of France, which owned 40% of the company.