Niger enters gold refinery deal with sanctioned Kenyan businessman Kamlesh Pattni
Pattni himself signed the agreement on behalf of Suvarna. Despite Pattni's controversial reputation, which includes sanctions imposed by the United States and the United Kingdom, the Niger government welcomed him with full honours, presenting the project as a major step toward economic sovereignty
The government of Niger has entered into a controversial partnership with Kamlesh Pattni, a Kenyan businessman known for his central role in the infamous Goldenberg scandal, to establish a new gold refinery and gemstone processing hub in the capital, Niamey.
The agreement, signed on April 23, 2025, will see Niger's government and Pattni's Dubai-based company, Suvarna Royal Gold Trading LLC, create a joint venture called Royal Gold Niger SA.
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This company will build a gold refinery, jewellery manufacturing plant, and gemstone polishing centre.
The signing ceremony, held at Uranium House in Niamey, was attended by Niger’s Minister of Mines, Commissioner-Colonel Abarchi Ousmane, and Minister of Budget Mamane Sidi.
Pattni signed the agreement on behalf of Suvarna. Despite Pattni's controversial reputation, which includes sanctions imposed by the United States and the United Kingdom, the Niger government welcomed him with full honours, presenting the project as a major step toward economic sovereignty.
Mines Minister Ousmane praised the deal, emphasising its potential to transform Niger’s gold industry.
“From now on, Niger’s gold will not only be extracted; it will be transformed here, for the benefit of Nigeriens,” he said, calling the partnership a "structural revolution."
The project is seen as part of Niger's broader efforts, under the National Council for the Safeguarding of the Fatherland (CNSP), to gain control over its mineral resources and build an integrated mining value chain, which would include everything from extraction to processing and marketing.
Ousmane also stressed that Niger's artisanal gold mining sector, which has been providing income to families since the 1950s, is ripe for formalisation. The aim is to curb smuggling and boost national revenues.
“This signature is not a simple administrative or commercial act; it embodies a firm political will to make the mining sector a real lever of sovereignty, prosperity, and national dignity,” Ousmane said.
He added that the partnership with Suvarna aligns with Niger’s strategic vision for sustainable economic development.
Pattni also spoke during the signing, echoing the sentiments of the Nigerien ministers.
"This partnership is in line with Niger’s vision for sustainable development," Pattni said, underscoring the importance of transforming gold locally to benefit the national economy.
Suvarna, the company led by Pattni, specialises in gold trading and precious metals recycling. The joint venture will see the Nigerien government hold equity in the new company, a move that officials say will ensure national oversight and long-term benefits.
“We are not just signing an agreement, we are making history,” Minister Ousmane declared.
However, the partnership has attracted criticism due to Pattni's checkered past. Known in Kenya for his involvement in the Goldenberg scandal of the 1990s, Pattni was accused of manipulating export incentives and bribing senior government officials, which led to a corruption case that allegedly siphoned Sh13.5 billion from public coffers.
Despite fleeing Kenya amid growing scrutiny, Pattni later reinvented himself in the gold trade, moving his operations to Zimbabwe and Dubai.
Pattni's name resurfaced in 2024 when the Uas Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on him for allegedly leading a gold smuggling and money laundering network. US authorities claimed that Pattni used bribery, concealed ownership through trusted supporters, and built an intricate web of businesses to cover up his illicit operations.
In addition to the US sanctions, Pattni was targeted by the UK government, which imposed asset freezes on him and several of his associates as part of broader efforts to combat money laundering and disrupt illicit gold activities that have allegedly supported Russia’s war efforts.
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