The inaugural Investment Summit and Roadshow for Solid Minerals in Nigeria, organised by the Nigerian High Commission in South Africa with Rosebank Capital, showcased the country’s mining potential to South African investors. The event highlighted policy reforms, community agreements, and innovative systems aimed at revitalising the sector. Key discussions included investment incentives, the digitisation of mining license processes, and the need for local value addition in mineral processing.

Engaging sessions helped clarify misconceptions about Nigeria’s business climate. Investors raised concerns over policy fluctuations, which were addressed by showcasing the amendment process for the Nigeria Minerals And Mining Act (2007). This aims to solidify reforms and improve the investment framework. The revised Community Development Agreements (CDAs) were also introduced to ensure host community consent for mining operations, fostering better relationships.

The Nigeria Mineral Decision Support System (NMDSS) emerged as a pivotal tool to attract investors, providing comprehensive data for informed decisions without necessitating travel. President Bola Tinubu’s promise of “Easy In, Easy Out” regarding profit repatriation, paired with tax waivers for mining equipment imports, further appealed to investors. Dr. Dele Alake emphasised the importance of local processing and skill transfer to boost Nigeria’s GDP.

Improvements in the mining license application process through the Electronic Mining Cadastral System (EMC+) were presented as a significant leap forward. Additionally, potential collaborative programmes were discussed for mutual certification of mining professionals between Nigeria and South Africa.

The summit was marked by several commitments, including interest from Pilanesberg Platinum Mines to explore similar initiatives in Nigeria and an MOU for a $1 billion coal processing and power plant project in Enugu State. Crystal Partners also expressed intentions to collaborate with Nigeria’s mining sector. Overall, the Roadshow was deemed a success, signalling a promising future for Nigeria’s solid minerals sector under proactive leadership.

The focus of this article is the recent Investment Summit and Roadshow for Solid Minerals held in Johannesburg, South Africa, which served as a platform to present Nigeria’s mining sector potential to international investors. It highlighted ongoing reforms and initiatives aimed at transforming the mining industry and establishing Nigeria as a favourable destination for mining investments. The Nigerian delegation engaged investors through presentations, discussions on policies, and innovative systems designed to ease the investment process and enhance community relations.

In summary, the Investment Summit and Roadshow successfully showcased Nigeria’s mining potential, addressing investor concerns about policies and community engagement. Promises of improved processes, attractive incentives, and the commitment to local value addition were well received. Key partnerships and initiatives were formed, indicating a proactive approach to investing in Nigeria’s mining sector, suggesting a bright future under effective leadership.

Original Source: blueprint.ng

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Sibanye Stillwater has obtained an additional €500 million (US$557.3 million) in debt financing to advance its lithium mining project in Finland despite falling battery metal prices. The funding, partially provided by the European Investment Bank (EIB), is aimed at pushing the Keliber lithium project towards production by 2026. Spokesperson James Wellsted expressed confidence in future lithium price recoveries, anticipating market deficits. Although Sibanye hasn’t yet secured offtake agreements for the project, lithium production is expected to reach 15,000 metric tons annually for at least 16 years, benefiting European electrical vehicle manufacturers and gigafactories.

Sibanye Stillwater is a precious metals producer operating primarily in South Africa and the U.S., focusing on gold and platinum. The company is venturing into lithium mining due to the growing demand for this metal, particularly for electric vehicle batteries. The volatile lithium market has seen prices drop significantly due to lower global demand, notably influenced by economic factors like high borrowing costs. The Keliber project is poised to address the anticipated lithium supply shortages in the future.

Sibanye’s recent €500 million financing marks a strategic move to enhance its liquidity for the Keliber lithium project in Finland, amid challenging market conditions. The company’s leadership remains optimistic about future lithium price increases and intends to support the electric vehicle sector through substantial annual lithium production. Despite current market setbacks, Sibanye is positioning itself for recovery in the sector.

Original Source: africanminingmarket.com

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