Nig Ready To Receive International Players In Mining Sector

The Minister of Solid Minerals Development, Dr. Dele Alake has pledged Nigeria’s readiness to welcome international big players into the mining sector.

Dr. Alake stated this while playing host to the Group CEO of Swiss-based Glencore, Mr. Gary Nagle, in Abuja.

The Minister who explained that there are ongoing reforms to sanitise the sector stressed that Nigeria has critical minerals that are commercially viable, globally.

He stressed that providing efficient governance structure and sanitising the operating environment of the mining sector remains a priority of the President Bola Tinubu administration.

“We want you to come here and invest because we have a preponderance of critical minerals like Lithium, gold, zinc, and nickel amongst others that are in high demand globally. We are securing the mining environment through a new security outfit, “Mining Marshals” and providing wide-ranging incentives for investments as well as establishing an efficient governance structure for the mining sector, “Alake emphasised.

The Minister further added that the Federal Government is committed to attracting international big players, that will fast-track development of the mining sector, like the oil industry.

“We are offering tax waivers on imported equipment; policy of full repatriation of profits to home countries; removing bottlenecks to ease of doing business. The ministry is also ready to address any concerns that Glencore might have to facilitate smooth operations in Nigeria,” Dr. Alake added.

In his remarks, Group CEO of Swiss-based Glencore, Mr. Gary Nagle, who applauded reforms in the mining sector and the economy, urged the government to put in place mechanisms to address policy flip-flops and ensure stability in the nation’s business climate.

“We are ready to invest provided the government ensures stability in the business climate and creates an enabling environment. We are excited by what you are doing so far, so apart from oil and gas, we are looking at opportunities to invest in the mining sector with emphasis on nickel, cobalt, zinc amongst others” Mr. Gary Nagle stressed.

Meanwhile, in another development, the Minister chaired the groundbreaking ceremony of the ASBA-Wisdom Lithium processing plant in Abuja, where he noted that the project is in consonance with the value addition policy of the Federal Government.

On completion, the Lithium factory will produce 1.6m tonnes of processed lithium annually and estimated to employ at least 1,200 Nigerians.

Dr. Alake promised the support of the federal government for the Lithium project, stressing that promoting diversification of the economy through development of the mining sector is a major plan of the Renenwed Hope agenda of the present administration.

By Georgina Humphrey, Edited By Grace Namiji