Nigeria and South Korea are in talks about Nigeria’s lithium reserves, with both parties proposing amendments to their 2006 Memorandum of Understanding. The pursuit of Nigeria’s high-grade lithium reserves is gaining traction, and South Korea is particularly interested. The discussions took place at the Seventh Korea-Africa Economic Co-operation Conference in Busan, South Korea. The Nigerian team included officials from the Ministry of Solid Minerals Development and Oando Mining Company, while the South Korean team consisted of representatives from the Korean Institute of Geosciences and Mineral Resources and Korean Mines Rehabilitation and Mineral Resources Corporation. The proposed amendments to the Memorandum of Understanding involve training Nigerian mining professionals in various areas and collaborating to explore the large deposits of lithium-bearing pegmatites. South Korea has expressed its expertise in lithium ore processing and its willingness to provide technical and financial assistance for mining investments. Nigeria has been keen on exploring its lithium reserves to boost its overall revenue, and foreign investors have shown interest in the high-grade lithium discovered in the country.
