El-Tahdam Exploration Limited aims to transform Nigeria into a lithium processing hub through a $500 million partnership with TSG Mining Group. The company plans to establish processing plants across multiple states, creating jobs and boosting the economy. Their initiatives reflect a commitment to value addition and sustainable development within the mining sector.
Nigeria is set to become a lithium processing hub, with El-Tahdam Exploration Limited leading the charge. This emerging mining company is focused on harnessing the nation’s vast reserves of Electric Vehicle minerals, particularly lithium. Through a strategic partnership with TSG Mining Group and an investment of $500 million, El-Tahdam aims to establish a robust lithium processing value chain, attracting global interest and boosting the local economy.
El-Tahdam has invested $5 million in exploring lithium ore in Libata, Kebbi, and has achieved a recovery rate of 92%. To ensure efficient processing, they have procured equipment tailored for their operations in Kebbi. The company plans to build three lithium processing plants across Kebbi, Kwara, and Kaduna, with a combined capacity of 9,000 metric tonnes of lower-grade ore daily, producing significant lithium concentrate.
In addition to processing plants, El-Tahdam will establish a Lithium Carbonate facility in Lagos, which will target an annual output of 80,000 metric tonnes of high purity lithium carbonate. This initiative not only aims to enhance the value of Nigerian lithium but also addresses the historical loss of revenue from raw material exports, urging a shift towards value addition within the sector.
The $500 million investment from TSG Mining Group includes $250 million for the processing plant in Kebbi, expected to be operational by 2025. El-Tahdam previously secured a 25-year mining license, ensuring a solid foundation for this partnership. TSG’s investors, Zhejiang State-Owned Capital and Sunwoda, bring essential financial and technological resources to the project.
El-Tahdam’s initiatives align with Nigeria’s economic goals, aiming to meet the rising demand for lithium. The company’s projects are projected to create jobs and stimulate economic growth, aligning with the government’s efforts to diversify the economy and reduce oil dependence.
Furthermore, El-Tahdam is committed to community development, with the Kebbi plant expected to generate around 1,000 direct jobs and 3,000 indirect jobs, contributing to local empowerment. The company’s efforts extend to attracting further investments for the exploration and processing of other minerals, potentially unlocking an additional $1 billion.
To secure Nigeria’s position in the global mining sector, continued support from stakeholders, including government bodies, is crucial. El-Tahdam Exploration Limited is poised to lead the nation towards sustainable economic growth through its commitment to harnessing Nigeria’s rich mineral resources for the benefit of all.
El-Tahdam Exploration Limited has positioned Nigeria as a potential lithium processing hub with its ambitious plans and significant foreign investment. By establishing processing facilities and focusing on value addition, the company aims to transform the local economy while fostering community development. Continued stakeholder support will be essential for leveraging Nigeria’s mineral wealth and achieving sustainable growth in the mining sector.
Original Source: www.premiumtimesng.com