Nigeria’s mining roadmap became the centre of attention for investors as the 21st Africa Down Under conference in Perth, Australia, came to a close.
Investors enthusiastically flocked to the Ministry of Solid Minerals’ exhibition booth at the Pan Pacific Hotel venue of the event. Their excitement was sparked by the enticing package of incentives unveiled by the Minister of Solid Minerals, Mr. Dele Alake during the fourth session of the conference.
Alake presented a compelling case for investment in Nigeria’s mining industry. He emphasised plans to establish the Nigerian Solid Minerals Corporation, serving as the interface between the global mining industry and Nigeria. Importantly, Alake highlighted that the laws permit investors to repatriate their profits.
Furthermore, Alake outlined a major plan to demonstrate the government’s commitment to assisting investors. This plan involves significant investment in geoscientific investigations of the country’s mineral resources, their quality and quantity. These investigations will enable investors to project the costs of their investments and the potential profits with greater certainty.
Regarding the promising presence of lithium in Nigeria, a critical component in the battery minerals used in the automotive industry, Alake pointed to the progress made by investors like Basin Limited in their Jupiter project, which involves lithium mining in the north and Lithium King’s investments in the southwest. These developments substantiate reports that Nigeria is among the most profitable destinations for this precious mineral.
The minister also assured investors of their safety, emphasising that the government has given illegal miners a 30-day ultimatum to join cooperatives. Additionally, plans are underway to deploy a surveillance task force and mine police to combat criminal activities in the mining sector.
“The door to business in Nigeria is wide open, and with our ongoing reforms in the solid minerals sector, I can assure every investor coming to our country of a conducive operating environment and attractive returns on their investments,” declared the minister.
Backing Alake’s claims during their presentations on the Jupiter project, Dr. Stevens Davies and his partner Hugh Morgan from Basin Limited disclosed that lithium deposits in various parts of Nigeria are close to the surface, primarily requiring quarrying for excavation. They also mentioned their company’s work on a nickel project in Nigeria that has shown promising prospects.
In response to these developments, investors praised the proposed Nigerian Solid Minerals Corporation as a positive step forward.
One mining investor, Mr. David Gardner, based in the United Kingdom and Ghana, expressed to the minister during a meeting after the session how the roadmap had rekindled his interest in investing.
A statement from the ministry’s deputy director of information, Alaba Balogun, listed other investors who attended the mining forum, including the director of RM Capital, Mr. Guy Le Page; Head of procurement, distribution and marketing at CTA Group, Mr. Ossama Aasriou; Chairman of stakeholder engagement at the African Mining Professionals Association of Australia, Mr. Mark Atta-Danso; Managing director of Innov-Africa, Mr. Smart Bateman; Managing director of TAMIPA, Mr. Oumar Baba Sy; Business development manager at Xcalibur, David Abott and the business development manager at Intertek, Australia, Mr. Doug Horak.