Niger’s military-led government has entered a joint venture with Suvarna Royal Gold Trading LLC — a Dubai-based firm linked to controversial Kenyan businessman Kamlesh Pattni — to establish the country’s first gold refining and jewelry complex.
Under the agreement, Suvarna and Niger will jointly create Royal Gold Niger SA to build a refinery, a precious stone-cutting unit, and a jewelry production facility near the capital, Niamey. The state will retain an equity stake in the venture, aiming to boost earnings from its gold exports, which were valued at US$547 million in 2023, according to the Observatory of Economic Complexity (OEC).
“It is a structural revolution because, from now on, Niger’s gold will no longer just be extracted, it will be processed here, for the benefit of Nigeriens,” said Niger’s Mines Minister, Commissioner Colonel Abarchi Ousmane.
Kamlesh Pattni, who controls Suvarna, is a figure long associated with financial scandals. In December 2024, the U.S. and U.K. sanctioned him for allegedly running a gold smuggling and money laundering network in Zimbabwe that robbed the country of critical resource revenues. The sanctions include asset freezes and blacklisting by the U.S. Treasury’s Office of Foreign Assets Control.
Pattni is best known in Kenya for his central role in the 1990s Goldenberg scandal, which saw the embezzlement of billions of shillings through fake gold and diamond export schemes. He later fled Kenya amid mounting legal pressure and returned only after charges were dropped. He later rebranded himself as a Christian preacher but was recently exposed in an Al Jazeera investigation for his alleged involvement in illegal gold trade in Zimbabwe.
Despite the controversy surrounding Pattni, Niger hopes the refinery will reduce its reliance on raw gold exports and help formalize the artisanal mining sector, which remains dominant.
“While artisanal gold mining has become a pillar of livelihood for many Nigerien families since the 1950s, it is our responsibility to structure this sector, protect it from illicit networks and make it a source of tax revenue, job creation and local training,” said Ousmane.
The financial terms of the deal were not disclosed. However, the move is seen as part of Niger’s broader economic pivot under its transitional military leadership.
General Abdourahamane Tchiani, who overthrew President Mohamed Bazoum in July 2023, has rejected Western influence, expelled U.S. and French forces, and aligned with Russia. Last month, he was sworn in as transitional leader under a five-year charter and has since banned political parties and co-founded the Alliance of Sahel States alongside Mali and Burkina Faso, defying ECOWAS calls for a swift return to civilian rule.
