Nigeria’s Ministry of Solid Minerals is actively pursuing opportunities to attract investors interested in exploring the country’s lithium deposits. The ministry’s Deputy Director of Information, Alaba Balogun, revealed these efforts in a recent statement.
At the 21st Africa Down Under Conference held in Perth, Australia, the Ministry of Solid Minerals showcased its commitment to fostering investment in Nigeria’s mining industry. During the event, investors expressed keen interest in Nigeria’s vast mineral resources.
Alake, a representative of the ministry, emphasized Nigeria’s plans to establish the Nigerian Solid Minerals Corporation. This entity will serve as a bridge between the global mining industry and Nigeria, offering a platform for investors to collaborate with the government. Furthermore, Alake pointed out that Nigerian laws permit investors to repatriate their profits.
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The government is also demonstrating its commitment to supporting investors by investing heavily in geoscientific investigations of the country’s mineral resources. These investigations aim to provide potential investors with precise data on mineral quality and quantity, enabling them to make informed investment decisions with greater certainty regarding costs and potential profits.
One of the key areas of interest is lithium, a critical component in battery technology used in the automotive industry. Nigeria is gaining attention as a potentially lucrative destination for lithium exploration. Investors, such as Basin Limited with its Jupiter project in the North, and Lithium King Investments in the South West, are making significant progress in mining lithium, reinforcing Nigeria’s reputation as a profitable destination for this precious mineral.
The Minister of Solid Minerals, Mr. Dele Alake, assured investors of their safety and emphasized the government’s ongoing reforms in the solid minerals sector. Additionally, he announced a 30-day ultimatum for illegal miners to join cooperatives, along with plans to deploy a surveillance task force and mine police to combat criminal activities in mining areas.
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