- The objective is to stablish a comprehensive database showcasing Nigeria’s resource potential
- Xcalibur Multiphysics role includes providing technical support, ensuring data quality and conducting economic evaluation studies
Abuja, 18th October 2023 – Xcalibur Multiphysics, global leader in integrated project and solutions for airborne geophysics and applied technology, has joined forces to enhance the landscape of geospatial edata mapping for early-stage mining projects in Nigeria with Africa Finance Corporation (AFC) and the Solid Minerals Development Fund of Nigeria (SMDF).
The primary focus is to enhance global access to Nigeria’s geological data, promoting secure investments from various entities, including banks, mining firms, financial institutions, individuals, and agencies. At the forefront of this initiative is Xcalibur Multiphysics, contributing technical support, ensuring data quality, and conducting economic evaluation studies.
The collaboration is an extension of the AFC and Xcalibur Multiphysics’s earlier agreement to map, develop, and co-finance natural resource projects in Africa. This specific project in Nigeria aims to establish a comprehensive database showcasing the country’s resource potential. The AFC and SMDF will navigate financing solutions, engage with regulators, and facilitate government discussions, while Xcalibur plays a crucial role in overseeing the technical aspects and economic evaluations.
Samaila Zubairu, President & CEO of AFC, emphasizes the significance of the partnership, highlighting Nigeria’s vast but underexplored mineral wealth. The goal is to attract mining investments and position Nigeria as a key player in the global energy transition.
Dario Castellanos, VP Financing and Middle East Director of Xcalibur Multiphysics, echoed her words, affirming the company’s commitment to enhancing geophysical data in Nigeria. Castellanos believes that the collaboration will attract mining investments, contributing to the development of critical mineral resources and establishing Nigeria as a pivotal player in the global energy transition.
Despite Africa hosting 30% of the world’s mineral reserves, only 5% of global mining financing reaches the continent. AFC has been a significant investor, deploying over $900 million in critical projects over the last seven years, with a focus on closing the financing gap in the mining sector. Examples include the Dynamic Mining Bauxite Mine in Guinea and the FG Gold Baomahun Gold Project in Sierra Leone, both expected to have transformative impacts on local economies and job creation.
About Xcalibur Multiphysics
Xcalibur Multiphysics is the global leader in airborne and mapping geophysics industry, providing comprehensive and sustainable solutions for mapping and assessing natural capital, renewable and non-renewable resources with +100 years of accumulated experience.
With over 1,000 executed projects and an astonishing total of more than 50 million linear kilometers flown, we have become global leaders across six continents. Our worldwide presence is underpinned by a fleet of 40 specialized aircraft owned by the group, all equipped with state-of-the-art geophysical systems. Our workforce, consisting of over 250 highly qualified employees, serves as the driving force behind our continuous innovation and industry success.
Our mission is to apply technology and smart data to discover natural capital responsibly, help stakeholders create opportunities for growth and integration, and protect biodiversity. All this with the firm purpose of accelerating a just energy transition for a more sustainable economy, making us the partner of reference in natural capital mapping.