Nigeria and South Africa have signed a pact aimed at enhancing mining cooperation, signalling Nigeria’s intention to diversify its economy from oil dependence. Mines Minister Dele Alake announced that both countries will collaborate on various mining initiatives, including geological mapping through drones and sharing mineral data. This partnership will also focus on exploring agro and energy minerals in Nigeria, which is known for its rich deposits of gold, limestone, lithium, iron ore, and zinc.

With around 23 commercially viable mineral deposits, Nigeria aims to rejuvenate its underdeveloped mining sector, which currently contributes less than 1% to GDP. Alake emphasized South Africa’s mining expertise as a crucial asset for this endeavour.

The agreement between Nigeria and South Africa marks a significant step in Nigeria’s efforts to diversify its economy beyond oil. By leveraging South Africa’s mining skills and resources, Nigeria can revitalize its mining sector and increase its contribution to the economy. This partnership holds the potential to enhance mineral exploration and development in Nigeria, fostering broader economic growth.

Original Source: www.mining.com

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