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Stock Watch:
Business > Industry
Multiverse expands to Abuja, seeks foreign partners
By Staff Reporter
July 28, 2012 20:43:30pm GMT
Nigerian Stock Exchange

WorldStage Newsonline-- Multiverse Plc said  it has taken some bold steps to consolidate its quarry business via expansion into Abuja market with the setting up of 1.2m metric ton per annual plant in Apo village and expansion into solid mineral in Nassarawa State.

According to a filing at the Nigerian Stock Exchange, the company further stated that it is currently expanding its operations into exploration of solid mineral namely, Lead ore (Galena). To this end, it has acquired an exploration License EL187 dully endorsed by Cadastre Office in line with the Nigerian Minerals and Mining Act 2007.

In its quest to be the market leader in mining sub sector, the company stated that it is seeking strategic alliance with Multinational Companies off-shore. This, the company believes will provide superior technical knowhow, leverage cheaper and longer term funds to expand its operations with the resultant improvement in profitability.

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