Orosur Mining’s Venture into Nigeria’s Lithium Exploration

Orosur Mining, a prominent Canadian mineral exploration company, has recently announced its intention to invest a substantial $5m in the exploration of Nigeria’s abundant lithium deposits. This investment follows the Nigerian Geological Survey Agency (NGSA) commitment to assist Orosur Mining by providing essential geosciences information on lithium deposits in the country.

Mr. Louis Castro, the Executive Chairman of Orosur Mining, disclosed this significant development during a meeting with Nigeria’s Minister of Solid Mineral Resources, Dr. Dele Alake, and the Director-General of the NGSA, Dr. Abdulrazaq Garba. Castro conveyed his confidence in the favourable regulations governing the mining sector in Nigeria, expressing optimism that this initial investment will pave the way for future investments in Nigeria’s highly lucrative solid minerals sector, particularly in the realm of lithium mineralization.

During the meeting, Dr. Abdulrazaq Garba, the Director-General of the Nigerian Geological Survey Agency, affirmed the agency’s commitment to providing Orosur Mining with credible geosciences information and technical expertise on lithium mineralization across the country. He highlighted the role of the NGSA in generating reliable data sets on Nigeria’s lithium resources and other minerals.

Engr. Obadiah Simon Nkom, the Director-General of Nigeria Mining Cadastre Office, welcomed Orosur Mining to Nigeria and assured the company that the mineral licensing process has been streamlined through the electronic mining cadastre (eMC+) platform.

The Nigerian government has been actively promoting mineral exploration through various initiatives, including the National Integrated Mineral Exploration Project (NIMEP), which has garnered recognition for its success in generating reliable datasets on mineral deposits in Nigeria.

In an effort to attract and support mining investors, the Nigerian government has put in place a comprehensive package of incentives, including tax holidays, deferred royalty payments, and exemptions from customs and import duties for mining-related equipment. These incentives aim to create a favourable environment for investment in the solid minerals and mining sector.

Furthermore, the Nigerian Investment Promotion Commission Act allows 100% ownership of companies by foreigners, and the Foreign Exchange Miscellaneous Act guarantees 100% repatriation of capital, profit, and dividends through authorized means.

In conclusion, Orosur Mining’s investment in Nigeria’s lithium exploration, combined with the government’s support and incentives, represents a significant step towards unlocking the full potential of the country’s solid minerals sector. This collaborative effort is poised to yield substantial benefits for both the investors and the Nigerian economy as a whole.