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Olugbemi. Adeyinka Ogunleye
5 days ago
Overview
Gold, Lithium position Nigeria as Africa’s minerals supply hub – Alake
Nigeria’s push into value addition through lithium processing and gold refining is positioning the country as Africa’s minerals supply hub and a key global partner for green energy minerals. Dele Alake minister, solid minerals development at the Ministry of Solid Minerals Development said this at a meeting with Ibrahim Al-Khorayef minister, of industry and mineral resources of Saudi Arabia.
The engagement took place ahead of the Future Minerals Forum in Riyadh, a statement by Segun Tomori, special assistant on media minister of solid minerals development stated. Alake said Nigeria’s value addition policy is already delivering results. A high purity gold refining plant is operational in Lagos, three additional gold refineries are at different stages of development and a 600 million dollar lithium processing plant in Nasarawa State is ready for commissioning.
He commended Saudi Arabia for expanding collaboration across Africa the Middle East Asia and Europe through the forum. He said Nigeria is keen to deepen ties by leveraging areas of comparative advantage in solid minerals development. “There are areas where Saudi Arabia excels and others where Nigeria has strengths. We want structured agreements that support capacity building training technology transfer and exploration,” Alake said.
He added that Nigeria’s vast landmass hosts abundant critical minerals and rare earth elements required by the global economy. He said the forum provides a platform to shape partnerships based on fairness equity and mutual benefit. Alake recalled engagements after the 2025 forum. He said a joint working group involving the Nigerian delegation and the Saudi Chamber of Commerce has been active over the past year. “Its report is ready and will be presented before the close of the current forum.”he added
He identified mineral traceability ESG standards and mine pit remediation as priority areas for collaboration. He said traceability boosts investor confidence and should be central to any partnership. He added that clear timelines and strong monitoring and evaluation are essential. Al-Khorayef reaffirmed Nigeria as a longstanding ally of Saudi Arabia. He agreed on the need for practical and actionable agreements on solid minerals development. He proposed that the working group prepare a draft memorandum of understanding for possible signing on the sidelines of the conference.
He urged Nigeria to use the forum to showcase mining investment opportunities to Saudi investors. He also encouraged African countries to adopt advanced mining technologies noting that Nigeria could benefit from Saudi Arabia’s progress.
Credit: Business Day
