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In a landmark move for its mining sector, Niger has signed a joint venture agreement with Emirati company Suvarna Royal Gold Trading LLC to establish the country’s first gold refinery, alongside a jewelry manufacturing unit and gemstone processing center.
The agreement, formalized on April 23, 2025, at Uranium House in Niamey, marks a significant step toward retaining more economic value from Niger’s natural resources. However, the involvement of Suvarna’s CEO, Pattni Kamlesh Mansukhal Damji, has sparked concerns due to his controversial past in one of Africa’s largest financial scandals.
The new venture, named Royal Gold Niger SA, will focus on refining gold, manufacturing jewelry, and cutting and polishing precious stones on Nigerien soil. Niger’s Minister of Mines, Colonel Abarchi Ousmane, and Minister of Budget, Mamane Sidi, were present at the signing ceremony alongside Suvarna’s CEO, Pattni Kamlesh Mansukhal Damji.
“Niger will soon have a gold refinery. Yes, the gold of Niger will be turned to Niger,” the African Hub reported, quoting officials at the event. This development aligns with a growing trend across Africa, where nations are increasingly seeking to process raw materials domestically rather than exporting them for refinement abroad.
Niger, though not a global leader in gold production, has steadily contributed to the market, with output reported at 2,000 kg in 2022, according to the U.S. Geological Survey. Historically, much of its gold has been exported in raw form, limiting the economic benefits for the local population.
By establishing a refinery, Niger aims to capture more of the value chain, create jobs, and boost its economy—a strategy that mirrors efforts in other African nations like Mali, which has struggled with underutilized refineries due to a lack of mandates for local processing.
Suvarna Royal Gold Trading LLC, based in Dubai, presents itself as a reputable player in the bullion industry, with a global network of refineries and mints. According to its website, the company prides itself on ethical business practices, advanced technology, and a commitment to quality. However, the involvement of Pattni Kamlesh Mansukhal Damji has raised red flags among observers.
Pattni, a Kenyan businessman, was a central figure in the infamous Goldenberg scandal of the 1990s, a fraudulent gold export scheme that cost Kenya an estimated KSh 5.8 billion. Although Pattni was cleared of charges in 2013 by a Kenyan High Court judge, his reputation remains tarnished, with some X users warning Nigerien authorities of potential risks.
“That man Niger is dealing with is a scammer—learn about Goldenberg in Kenya,” wrote Philip Gichira, while another user, Joe Gichimu, bluntly stated, “Kamlesh is a gold scammer.”
Despite these concerns, the project has garnered optimism from others who see it as a step toward economic empowerment. “Finally 🤝 way to go Africa,” commented Big Boys Soccer Talks on X, echoing sentiments of pride in the continent’s push for self-reliance. Mfundo Kanan added, “A country ran by people that think for the people, not their own selfish interests.”
The sentiment reflects a broader desire among African nations to break free from historical patterns of resource exploitation, where raw materials are exported with minimal benefit to local economies.
The global context for this venture is also noteworthy. According to a 2024 Wikipedia entry on gold production, the industry has seen shifts, with South Africa no longer holding its historical dominance since 2007 due to rising production in other countries. Niger’s entry into gold refining could position it as a small but strategic player in the market, especially if it can leverage its resources effectively.
For Niger, the stakes are high. The success of Royal Gold Niger SA could serve as a model for other resource-rich African nations, demonstrating the benefits of localized processing. However, the shadow of Pattni’s past looms large, and Nigerien authorities will need to exercise vigilance to ensure the project delivers on its promises without falling prey to mismanagement or exploitation.
As the country embarks on this ambitious journey, the world will be watching to see if Niger can turn its gold into a true catalyst for sustainable development.
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