The Minister of Solid Mineral Development, Dele Alake, has announced the conditions that international mining companies must meet in order to obtain licences to operate in Nigeria.
During the Nigeria Mining Week event in Abuja, Alake emphasized that these companies will be required to invest in domestic processing as part of the licensing process.
The minister highlighted the importance of presenting business plans for “value addition” as a prerequisite for obtaining licenses. This policy is aimed at promoting job creation in the mining sector.
Alake expressed his satisfaction that some companies have already begun operations in Nigeria, citing Ganfeng Lithium Industry Ltd., a Chinese company currently constructing a $250 million lithium processing plant in Nasarawa State, as a prime example of the government’s desired investment.
The lithium processing plant is projected to process approximately 18,000 tons of lithium ore daily to produce batteries designed for electric vehicles, according to the minister.
In addition to attracting foreign investment, Alake highlighted the government’s efforts to modernize the mining industry. The government has invested more than N15 billion over seven years in a National Integrated Mineral Exploration Project (NIMEP) to collect comprehensive mineral data.
By implementing these conditions, the Nigerian government aims to foster sustainable growth and development in the mining sector, while also promoting local value addition and job opportunities.
