FG Moves To Reposition Solid Mineral Sector

By Georgina Humphrey

ln efforts to mobilize international assistance to reposition the solid minerals sector to compete globally, the Federal Government held talks with the Commonwealth Secretariat.

The focal of the talks was the prospects in deep sea mining in Nigeria coastal waters.

Minister of solid minerals development, Dr. Oladele Alake made this known when he led the Nigerian delegation on a courtesy visit to the institution in London.

Dr. Alake while addressing the forum, noted that the discussion has brought a new dimension to mineral development and promised that the ministry would study the dimension of deep sea mining in collaboration with other ministries and put together a proposal for further consideration.

Dr. Alake explained that President Bola Ahmed Tinubu has identified the solid minerals sector as a pillar of Nigeria’s current efforts to diversify the economy.

He stressed that this has led to the development of a seven Point Agenda that includes the establishment of a solid minerals company, gathering Data on mineral reserve to de-risk investments, improved security to keep the mines safe and socio-economic development of mining communities through effective community development agreements.

The minister who described the Commonwealth as an institution that has developed expertise over the years called for support towards the Tinubu administration’s efforts.

Responding, the Senior Director, Trade, Oceans and Natural Resources Department of the Commonwealth, Paul Kautoke emphasized that Nigeria as a coastal country, could explore the profitable prospects of extraction of deep sea minerals such as copper, cobalt, nickel, gold and rare earth elements.

Kautoke who noted that many Commonwealth countries in the Pacific region were making inroads into the deep sea mining sub-sector promised that the Commonwealth could assist to develop a policy for Nigeria.

He also commended the delegation for visiting the Commonwealth secretariat.

In their separate presentations, the Director Natural Resources, Victor Kitange, Trade and Investment Adviser, Opeyemi Abebe, Economic Adviser, Trade, Ocean and Natural Resources, Daniel Wilder and Adviser, Ocean Governance Allison Swaddling who spoke about the progress achieved in deep sea mining expressed concerns that African countries were lagging behind.

Edited By Grace Namiji