Nigeria and Saudi Arabia have revitalised efforts to enhance their geological agencies’ capabilities, leveraging advancements in mineral exploration by Saudi firms. During a meeting at the Future Minerals Forum in Riyadh, Saudi Mining Minister Bandar Al-Khorayef confirmed collaboration between the government and private sector to introduce new technologies for mineral exploration.

Engr. Al-Khorayef responded to a proposal from Nigeria’s Minister of Solid Minerals Development, Dr Dele Alake, who advocated for partnerships capitalising on economic advantages. Alake highlighted that both countries could benefit from the sector’s value chain, especially through Nigeria’s access to Saudi Arabia’s gold market.

Nigeria’s minister, alongside his finance counterpart Dr Doris Uzoka-Anite, engaged Saudi Chamber of Commerce officials, seeking investments in Nigeria’s mining sector, particularly focusing on lithium and iron ore reserves. To enhance investment security, Alake assured the provision of relevant mineral data via the Nigerian Geological Survey Agency.

Alake noted the global industry’s pivot towards electric machinery that utilises lithium batteries, positioning Nigeria as a vital supplier of essential minerals. He emphasised that partnerships with Saudi investors would bolster the export of refined industrial products, drawing parallels with Saudi investments in steel production.

He cited examples of iron ore processing in Nigeria, showcasing existing successful companies, and mentioned the availability of advanced laboratories in Nigeria for mineral analysis, contributing to efficient mining operations.

The collaboration between Nigeria and Saudi Arabia aims to enhance the capabilities of their geological sectors, particularly in mineral exploration. This initiative comes against the backdrop of Saudi Arabia’s advancements in mining technology and Nigeria’s significant mineral resources, including lithium and iron ore, crucial for today’s electric machinery market.

The renewed collaboration between Nigeria and Saudi Arabia seeks to leverage technological advancements in mining to improve the sector’s capabilities. By integrating efforts, both nations aim to expand economic opportunities, specifically in mineral exploration and processing, ensuring mutual benefits and investment security.

Original Source: leadership.ng

The post Nigeria and Saudi Arabia Strengthen Mining Sector Collaboration first appeared on Nigerian Mining News.

Nigeria and Saudi Arabia are collaborating to enhance their geological agencies through the advancements achieved by Saudi firms in mineral exploration. This commitment was expressed during a closed-door meeting between officials from both countries at the Future Minerals Forum in Riyadh. Saudi Minister of Mining, Bandar Al-Khorayef, stated that both the government and private sector are partnering to implement innovative technologies in mineral exploration, spotlighting new products showcased at the event for public engagement and awareness.

The relationship between Nigeria and Saudi Arabia in the mining sector is growing, particularly in the area of technological advancements in mineral exploration. The Future Minerals Forum is a significant platform for these discussions, aimed at improving operational capacities and promoting best practices in mining through cooperative efforts. Saudi Arabia has made strides in mineral exploration, which serves as a model for Nigeria’s geological initiatives.

The collaboration between Nigeria and Saudi Arabia signals a proactive approach to mining development, leveraging technology and strategic partnerships. Both nations are focused on improving their geological capacities, with a clear commitment to adopting new techniques and enhancing awareness of mineral resources.

Original Source: ait.live

The post Nigeria and Saudi Arabia Strengthen Ties Through Joint Mining Initiatives first appeared on Nigerian Mining News.

Nigeria and Saudi Arabia are rekindling efforts to strengthen their geological agencies, drawing on advancements made by Saudi firms in mineral exploration. At a recent meeting during the Future Minerals Forum in Riyadh, Saudi Minister of Mining Engr Bandar Al-Khorayef announced collaboration between government and private sectors to integrate innovative mining technologies, with new products showcased at the event to enhance awareness.

Minister of Solid Minerals Development, Dr Dele Alake, proposed a collaboration targeting economic advantages through the value chain of the minerals sector. By referring to the successful Saudi gold market, he suggested allowing Nigerian gold refineries access to this market to foster mutual economic growth and expansion opportunities.

Dr Alake, alongside the Minister of State for Finance Dr Doris Uzoka-Anite, engaged with the Saudi Chamber of Commerce to attract investments into Nigeria’s mining sector, highlighting significant lithium and iron ore deposits. He assured that the Nigerian Geological Survey Agency will provide essential mineral data to mitigate investors’ risks.

With the global shift towards electric vehicles requiring lithium batteries, Dr Alake noted Nigeria’s strategic position as a key mineral supplier, aiming to boost the export of refined industrial inputs. He cited successful examples in Saudi Arabia’s steel production and mentioned similar capabilities within Nigeria for processing iron ore.

The meeting highlighted Nigeria’s advanced laboratories for mineral analysis, which can support mining projects by providing certified services in West Africa. This initiative aims to solidify both nations’ partnership in the mining sector, ensuring sustainable growth and development for their economies.

The article discusses the renewed partnership between Nigeria and Saudi Arabia aimed at enhancing their geological and mining capacities. This collaboration is part of a broader strategy to leverage the advancements in mineral exploration technology developed by Saudi firms. The discussions at the Future Minerals Forum emphasise the importance of cooperation between the two countries to boost mutual economic benefits, particularly in the mining and mineral processing sectors, with a focus on integrating finished goods into global markets.

The renewed plans between Nigeria and Saudi Arabia focus on enhancing geological agency capacities and promoting collaboration in the mining sector. By leveraging technological advancements and developing market access, both countries aim to bolster their economies and ensure sustainable development. The initiative shows promise in increasing investments and refining product exports in key mineral sectors.

Original Source: thesun.ng

The post Nigeria and Saudi Arabia Collaborate on Geological Agency Capacity Building first appeared on Nigerian Mining News.

Nigeria and Saudi Arabia are set to enhance their mining sectors by collaborating on geological capabilities, following advancements made by Saudi companies in mineral exploration. This decision arose during a meeting held at the Future Minerals Forum (FMF) in Riyadh, to discuss mutual economic benefits and technological innovations in mining.

Saudi Minister of Mining, Engr Bandar Al-Khorayef, highlighted the collaboration between public and private sectors to adopt new mineral exploration technologies, with products showcased at the conference to boost visibility and market awareness.

During the discussions, Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, proposed partnerships along the mining industry’s value chain, citing Nigeria’s gold refineries as potential entrants to the Saudi market with protection clauses benefiting both nations’ economies.

The Nigerian delegation, which included Dr Alake and Minister of State for Finance, Dr Doris Uzoka-Anite, appealed to the Saudi Chamber of Commerce for investment in Nigeria’s mining sector, particularly focusing on lithium and iron ore resources in line with current policies promoting value addition.

Dr. Alake indicated that the global shift towards electric vehicles has positioned Nigeria as a key provider of essential minerals, asserting that partnerships with Saudi investors could enhance the export of processed industrial materials. He referenced the examples of steel production and iron ore processing within Nigeria as predictions of potential success.

Alake mentioned the availability of advanced laboratories for mineral analysis in Nigeria, promoting efficient mining operations, and asserting Nigeria’s status as home to West Africa’s best-certified mineral laboratories.

The discussion between Nigeria and Saudi Arabia revolves around optimising their mining potential through technological collaboration. Given Saudi Arabia’s advances in mineral exploration, Nigeria seeks to leverage these advancements to boost its own mining capabilities. Both nations are keen to establish partnerships that enhance investment opportunities, particularly in sectors like lithium and iron ore, that align with global market trends towards sustainable energy solutions.

The renewed partnership between Nigeria and Saudi Arabia aims to improve mining operations and investment through collaborative efforts in technological advancements and market accessibility. By establishing joint ventures and harnessing shared resources, both countries can effectively enhance their mining sectors, contributing to economic growth and expanded export opportunities.

Original Source: von.gov.ng

The post Nigeria and Saudi Arabia Strengthen Mining Partnership for Economic Growth first appeared on Nigerian Mining News.