In the last two years, Nigeria has enacted crucial reforms to revitalise its mining sector, aiming to attract investment and enhance its GDP contribution. Initiatives have streamlined licensing processes and reduced barriers for international investors, improving mineral production across Nigeria’s 44 solid mineral types. The upcoming African Mining Week (AMW) 2025 will gather stakeholders and global investors to promote deals and sector growth.

The Nigerian Geological Survey Agency launched the Mineral Resources Decision Support System in May 2024. This platform offers global investors quick access to geological and policy data, showcasing Nigeria’s mineral wealth and infrastructure. By enhancing data transparency, it aims to facilitate investments and bolster investor confidence in the mining industry.

In August 2023, Nigeria restructured its Ministry of Mines and Steel Development into two entities to improve efficiency. The Ministry of Solid Minerals Development focuses on upstream activities, while the Ministry of Steel Development oversees steel and metallic resource development. This change is designed to enhance governance and attract targeted investments.

The Nigerian Minerals & Mining Bill, approved in April 2023, is currently under public review and aims to bolster foreign investment. It introduces incentives and strengthens local content requirements, serving as the primary legal framework for the sector. Once implemented, it will improve transparency and align the sector with global standards.

The Nigeria Mineral Value Chain Regulations, effective from July 2021, mandate local processing of certain raw minerals, fostering downstream investment. This policy spurred significant investments, such as Avatar Energy Materials’ lithium processing facility in Nasarawa State. These developments position Nigeria as a vital participant in the global critical minerals supply chain, which will be highlighted at AMW 2025.

African Mining Week is a prime event to explore the diverse mining opportunities across Africa, running alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Interested parties can contact [email protected] for more information on participation.

Nigeria’s mining reforms aim to revitalise the sector, attract foreign investments, and enhance GDP contributions through improved governance, transparency, and local processing initiatives. The restructuring of ministries, introduction of supportive legislation, and the launch of a data access platform demonstrate a robust commitment to unlocking the mining industry’s potential. The upcoming AMW 2025 will further provide a vital platform for collaboration between local and international stakeholders.

Original Source: energycapitalpower.com

The post Nigeria’s Mining Reforms: Attracting Investment and Driving Growth first appeared on Nigerian Mining News.

Two Chinese companies, Canmax Technologies and Jiangxi Jiuling Lithium, have taken control of a Nigerian lithium refinery project, originally established in 2022 by Chinese entrepreneurs. The refinery, located in northern Nigeria, was controversial due to its name similarity to Ganfeng Lithium Group, a major global lithium supplier. The joint venture aims to enhance Nigeria’s lithium sector, which traditionally exports raw materials to China.

Ganfeng Nigeria initially confused the market when it began construction in 2023 and later clarified its lack of formal ties to Ganfeng Lithium Group. The project, with an estimated cost of $250 million, is set to boost local lithium production, coinciding with increasing Chinese investments in Africa’s lithium resources despite significant price drops.

Canmax Technologies plans to invest over $200 million in additional lithium mining sites in northern Nigeria, partnering with local company Three Crown Mines. The founder of Canmax, Pei Zhenhua, is notable for his investment ties to major electric vehicle battery manufacturers.

Nigeria is rich in untapped minerals, including lithium, but much of the extraction remains informal, conducted by small-scale miners. The Nigerian Ganfeng has secured a 10-year mining agreement under state government permits, with the refinery’s first phase expected to finish mid-year and the second phase in four months. Local officials express optimism about the investment’s potential.

The takeover of the Nigerian lithium project by Canmax and Jiuling represents a significant investment in Nigeria’s emerging lithium industry, aimed at satisfying increasing global demand. The collaboration highlights the trend of Chinese companies consolidating resources in Africa to secure essential materials for electric vehicle production. The project is poised to enhance Nigeria’s industrial capabilities while drawing attention to the challenges of informal mining in the country. Overall, these developments indicate a strategic shift in lithium sourcing closely aligned with rising electric vehicle demands.

Original Source: www.mining.com

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Nigeria is opening its mining sector to Venezuelan investors, a move aimed at boosting foreign investments. This initiative was discussed during the Mining Indaba in Cape Town, where Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, met with Venezuela’s Deputy Minister of Mining, Alejandro Martinez. They explored opportunities for cooperation in the mining sector to strengthen economic ties between the two nations.

Alake highlighted the need for Nigeria to diversify from petroleum, noting the global shift towards green energy and the importance of mining critical minerals like lithium and cobalt. He stated, “Nigeria focused on petroleum. Now, the world is moving to green energy. Compulsorily, we have to shift our attention to our minerals.”

Emphasising local value addition, Alake expressed Nigeria’s desire for lithium to be processed domestically to create jobs and stimulate the economy. He invited Venezuela to join a new coalition for mining countries aiming for trade and economic independence.

Martinez acknowledged the challenges faced by both oil-producing countries and expressed Venezuela’s eagerness to collaborate. He conveyed gratitude from Venezuelan President Nicolas Maduro to Nigeria’s President Bola Tinubu for support and urged investment facilitation through closer ties between the two nations.

Nigeria and Venezuela’s partnership aims to diversify economies through mining, highlighting the importance of local processing and collaboration. Both countries seek to exploit their resources sustainably, focusing on critical minerals needed for the energy transition.

Original Source: tribuneonlineng.com

The post Nigeria and Venezuela Forge Mining Partnership to Boost Economic Ties first appeared on Nigerian Mining News.

The Nigerian federal government plans to set up a new mining corporation, the Nigeria Solid Minerals Corporation, to enhance the mining sector’s growth. This announcement was made by Segun Tomori, the Special Assistant on Media to the Minister of Solid Minerals Development, Dele Alake, during an XSpace discussion.

The corporation will be managed by the Ministry of Finance Incorporated (MOFI) and is expected to launch soon. It aims to serve as a specialized vehicle focused on advancing Nigeria’s mining industry, allowing Nigerians to hold equity in the corporation.

Equity distribution will aim to balance public and private interests: the federal government and citizens will each hold 25% while the private sector will own the remaining 50%. This structure is designed to minimise government interference and ensure sustainability beyond current administrations.

In parallel, Minister Alake has proposed establishing a mining development bank to assist in providing long-term financing for the sector. He urged mining company CEOs to lead this initiative, which aims to reduce government involvement and enhance the sustainability of the sector.

Furthermore, the government is working on removing obstacles that hinder business operations in the mining industry, fostering a better investment climate in Nigeria.

The establishment of the Nigeria Solid Minerals Corporation marks a significant step towards revitalising Nigeria’s mining industry by encouraging private sector participation and equity distribution. The proposal for a mining development bank further aims to sustain industry growth while reducing government involvement. Overall, these initiatives indicate a strategic effort to create a conducive environment for investment in Nigeria’s mining sector.

Original Source: www.tv360nigeria.com

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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

The post Venezuelan Investors Show Interest in Nigeria’s Mining Sector first appeared on Nigerian Mining News.

At an open-cast lithium mine in Nigeria, Abdullahi Ibrahim Danjija works diligently, chiselling whitish rock. His efforts yield three filled 50-kilo bags daily, earning him 150,000 nairas ($100). This amount significantly exceeds Nigeria’s monthly minimum wage, highlighting the economic potential of lithium mining in a country where a majority live below the poverty line.

Nigeria is experiencing a surge in interest for lithium mining, a crucial component for batteries used in electric vehicles and renewable energy systems. This rising demand presents both opportunities and challenges, particularly for local miners who often face economic hardship and precarious working conditions. The growing lithium market could offer financial relief but raises concerns regarding sustainability and worker rights.

Lithium mining in Nigeria showcases a stark contrast between potential economic benefits and the challenges faced by local workers. While individuals like Abdullahi Danjija find lucrative opportunities, the broader implications of this industry highlight the need for sustainable practices and better regulation to protect workers and the environment.

Original Source: www.heraldpalladium.com

The post Nigeria’s Lithium Mining Boom: Economic Opportunities and Concerns first appeared on Nigerian Mining News.

On the radio programme, Joyce highlights the rampant illegal mining in Nigeria, shedding light on recent remarks by former Edo State governor, Adams Oshiomhole. He suggested that high-ranking officials in the government are complicit in these illegal practices, contributing to the country’s mining sector problems. Joyce calls for accountability and a closer examination of government involvement in this illicit activity.

Illegal mining has become a significant concern in Nigeria, often associated with corruption and mismanagement within the government. The involvement of high-ranking officials in these illegal activities undermines efforts to regulate the mining sector legally and sustainably. Understanding the depth of these issues is crucial for addressing corruption and protecting the nation’s resources effectively.

The discussion on illegal mining in Nigeria underscores a severe issue of corruption that extends into government ranks. Calls for greater accountability and transparency are essential to combat these illegal practices. Increased awareness and pressure on officials may lead to more stringent regulations and a more effective mining sector.

Original Source: www.nigeriainfo.fm

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The Nigeria Security and Civil Defence Corps (NSCDC) Mining Marshals are determined to intensify their efforts against illegal mining operations in 2025. At the NSCDC National Headquarters, Commander John Attah discussed the achievements made in 2024, specifically targeting powerful cartels hindering the nation’s mineral resource management. The establishment of an Inter-Ministerial Committee has led to the development of strategies aimed at reducing unlawful activities in mining sectors.

Since the launch of the Specialized Mining Marshals in March 2024, over 2,509 trained operatives have been deployed across Nigeria to strengthen security in mining regions. Attah praised the collaboration between the Ministry of Solid Minerals and NSCDC, crediting it with the significant progress in combating illicit mining activities. The squad has successfully shut down illegal mining sites and ensured adherence to legal frameworks governing the industry.

Attah expressed optimism about future operations under Commandant General Dr. Ahmed Abubakar Audi’s leadership, emphasising their commitment to rooting out illegal miners and their networks. The Mining Marshals reaffirmed their dedication to intensifying efforts against illegal mining in 2025 to safeguard Nigeria’s extensive mineral wealth from exploitative practices.

The NSCDC Mining Marshals were established to address the rising challenge of illegal mining in Nigeria, which poses significant threats to the nation’s mineral resources and economic stability. In recent years, increased illegal mining activities have led to environmental degradation and loss of government revenue. The collaboration with the Ministry of Solid Minerals marks a proactive approach to enforcing legal mining practices and protecting natural resources.

The NSCDC Mining Marshals are resolute in their mission to eliminate illegal mining activities in Nigeria by 2025. With a focus on strategic collaboration and enhanced operational capabilities, the squad aims to significantly reduce illicit activities that threaten the country’s mineral resources. Their ongoing commitment reflects a serious stance against economic sabotage and a dedication to preserving Nigeria’s natural wealth.

Original Source: thewhistler.ng

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Dr Dele Alake, the Minister of Solid Minerals Development, underscored Nasarawa state’s critical role in enhancing Nigeria’s mining sector during a meeting with Governor Abdullahi Sule and Minister of Defence Abubakar Badaru. He highlighted Nasarawa as a mining hub, especially for lithium, and emphasised the need for ongoing collaboration to exploit the state’s mineral wealth effectively.

Nasarawa state is known for its extensive mineral resources, particularly lithium, positioning it as a pivotal area for mining efforts in Nigeria. Recent reforms in the country’s mining sector have sparked increasing interest from global investors. However, challenges such as insecurity remain, prompting the need for enhanced cooperation among state and federal officials to support mining activities while addressing security concerns.

The emphasis on collaboration between governmental bodies is crucial for advancing mining activities in Nasarawa, particularly amidst ongoing security challenges. The commitment by officials to address these issues signifies a robust strategy towards unlocking the state’s minerals potential for national growth. Overall, sustained cooperation is imperative for the mining sector’s success in Nigeria.

Original Source: blueprint.ng

The post Nasarawa State: Key to Nigeria’s Mining Future, Says Minister Alake first appeared on Nigerian Mining News.

Dr Dele Alake, the Minister of Solid Minerals Development, announced that the Nigeria Solid Minerals Corporation will revolutionise the mining sector in Nigeria and ensure sustainable development. This initiative is backed by 50% private sector equity, 25% from Nigerians, and 25% from the Federal Government.

During a meeting with British Deputy High Commissioner Jonny Baxter, Alake revealed that the corporation will be established under the Ministry of Finance Incorporation, following the model of Nigeria Liquefied Natural Gas. He asserted, “The Solid Minerals Corporation will be an enduring legacy. No future government will be able to exert any political interference.”

Alake articulated the government’s strategy to enhance competitiveness and global recognition for the mining sector by developing transport infrastructure, improving regulations, and remediating abandoned mining sites. He also encouraged British investors to seize opportunities in Nigeria’s mining industry, citing international support as crucial for ongoing reform efforts.

Ambassador Baxter expressed support for the initiative, commending the government’s approach and affirming the UK’s commitment to strengthening Nigeria’s regulatory framework and promoting investment. He remarked on the significance of Nigeria’s economic progress for global prosperity and promised continued cooperation in mining.

The establishment of the Nigeria Solid Minerals Corporation is a major initiative aimed at revitalising Nigeria’s mining sector through a robust funding model involving various stakeholders. The corporation is designed to provide a stable platform free from political influence, fostering sustainable growth and competitiveness in the sector. The government is keen to attract domestic and international investments while modernising the regulatory framework to enhance performance and efficiency.

The announcement of the Nigeria Solid Minerals Corporation represents a significant move towards transforming Nigeria’s mining sector. With a well-structured funding model and an emphasis on sustainable practices, the government aims to create an investor-friendly environment. International support, particularly from the UK, will play a crucial role in achieving these ambitious objectives and ensuring long-term growth.

Original Source: punchng.com

The post Nigeria Solid Minerals Corporation to Revamp Mining Sector first appeared on Nigerian Mining News.