Venezuelan Deputy Minister Alejandro Martinez expressed his country’s investors’ interest in Nigeria’s mining sector during discussions with Nigeria’s Minister Dr. Dele Alake at the Mining Indaba. Both nations aim to diversify their economies from petroleum to mining to meet global demands for minerals essential for energy transition. They discussed collaboration opportunities, particularly through a new coalition for trade among countries with similar challenges.
Venezuelan Deputy Minister of Mining, Alejandro Martinez, has announced that Venezuelan investors are keen to explore opportunities within Nigeria’s mining sector. This interest was conveyed during discussions with Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, at the Mining Indaba in Cape Town, South Africa. Martinez noted that Venezuelan investors, particularly those in mining machinery production, are eager to collaborate and seek assistance in facilitating visits to Nigeria for investment insights.
Minister Alake highlighted that both countries previously benefited from petroleum but now face the need to diversify into solid minerals due to global warming and economic pressures. He emphasised that Nigeria has significant mineral resources crucial for energy transition, such as lithium, cobalt, nickel, and rare earth elements. Alake stressed the importance of processing minerals locally to generate employment and economic growth.
Alake called on Venezuela to join a new coalition of nations, termed the “Super Region,” aimed at facilitating trade among member countries and leveraging shared economic challenges for collective gain. He reiterated Nigeria’s commitment to collaborating with Venezuela on mineral exploitation and ensured that any projects would focus on local value addition and sustainability. The meeting saw participation from key Venezuelan officials, including the Ambassador to South Africa, Carlos Fed Acevedo.
The collaboration between Venezuela and Nigeria in the mining sector emerges as both countries seek to diversify their economies. With a shared background in petroleum production, both nations are now facing the reality of shifting global energy demands. Venezuela’s interest in Nigeria’s mining sector comes at a time when Nigeria is keen to exploit its mineral resources to boost economic independence and local employment. This partnership presents opportunities to harness each nation’s strengths for mutual benefit, particularly in mineral processing and trade.
The engagement between Venezuelan and Nigerian officials points towards a promising partnership in the mining sector. With a strong focus on sustainable development and local value addition, both nations are committed to leveraging their mineral resources effectively. As they navigate economic diversification, initiatives like the ‘Super Region’ coalition could strengthen their cooperative efforts and enhance trade relations, ensuring growth in the increasingly important mining sector.
Original Source: punchng.com