Alake Woos Investors to Nigeria’s Mining Sector, Highlights Opportunities

Folalumi Alaran in Abuja

The 21st Africa Down Under conference held in Perth, Australia, recently, ended on a positive note, with Nigeria’s mining roadmap attracting the keen interest of investors.

dees at the conference, the Minister of Solid Minerals Mr. Dele Alake, presented a convincing argument for investing in the country’s mining sector.
He stressed the importance of establishing the Nigerian Solid Minerals Corporation as the essential bridge between the global mining industry and Nigeria.
The minister also pointed out the favorable legal framework that allows investors to repatriate their earnings.

Alake, highlighted a significant investment in geoscientific research aimed at conducting a comprehensive assessment of Nigeria’s mineral resources, including their quality and quantity.
The endeavor, he explained, aims to empower investors with accurate data, enabling them to project their investments’ costs and potential profits more confidently.

Furthermore, the minister revealed the substantial lithium reserves in Nigeria, a crucial element in the thriving electric vehicle sector.
Alake, highlighted advancements achieved by trailblazing investors such as Basin Limited in their Jupiter project, which focuses on lithium extraction in the North, and the investments made by Lithium King in the south-west.

These achievements he noted served to emphasise Nigeria’s exceptional appeal as a highly profitable location for the valuable mineral.
In terms of security, the Minister assured investors of their safety, highlighting the government’s ultimatum for illegal miners to join cooperatives within 30 days.
Additionally, plans were unveiled to deploy surveillance task forces and mine police to safeguard mining operations from criminal activities.

“The message is clear: Nigeria is open for business, and with our ongoing solid minerals sector reforms, we guarantee investors a conducive operating environment and attractive returns on their investments,” proclaimed the Minister.
Supporting Alake’s assertions, Dr. Stevens Davies and Partner, Hugh Morgan of Basin Limited, detailed the accessible nature of lithium deposits in Nigeria, which largely required quarrying for excavation.

They also mentioned a promising nickel project they are developing within the country.

Investors echoed their approval of the proposed Nigerian Solid Minerals Corporation, considering it a significant step in the right direction.

A mining investor based in the United Kingdom and Ghana, Mr. David Gardner, shared his renewed interest in investing with the Minister, solidifying the positive impact of the roadmap.

Prominent figures present at the mining forum included Mr. Guy Le Page, Director of RM Capital; Mr. Ossama Aasriou, Head of Procurement, Distribution & Marketing at CTA Group; Mr. Mark Atta-Danso, Chairman of Stakeholder Engagement at the African Mining Professionals Association of Australia; Mr. Smart Bateman, Managing Director of Innov-Africa; Mr. Oumar Baba Sy, Managing Director of TAMIPA; David Abott, Business Development Manager at Xcalibur; and Mr. Doug Horak, Business Development Manager at Intertek, Australia.