Experts in Nigeria’s mining sector have called for significant investment in mineral exploration and geoscience data generation to attract international mining firms. During the Nigerian Mining Week in Abuja, they referred to old, neglected mining sites as Brownfields and newer initiatives as Greenfields. Speakers, including Habeeb Jaiyeola from PwC and Fadi Abou Ghazale of Titan Minerals, highlighted the need for credible geological data as a critical factor for attracting global players like Rio Tinto. Ghazale noted the difficulties in securing exploration funding and urged for government support to enhance the investment climate. Furthermore, Simon Nkom from the Nigeria Mining Cadastre Office emphasised the importance of digitising mineral licensing. He pointed out that despite the government’s past involvement in mining, it now seeks to create a supportive environment for private sector investors. Both Nkom and Ayodeji Gbeleyi of the Bureau for Public Enterprises agreed that the lack of available geodata heavily obstructs progress. Collectively, the discussion underscores that enhancing Nigeria’s mineral wealth requires strategic investment and the generation of reliable exploration data.

Nigeria’s mining industry holds substantial potential, particularly in its Brownfield and Greenfield sites. Historically, mining was overshadowed by oil discovery, leading to a decline in exploration efforts. However, experts posit that revitalising this sector could draw investments from leading global mining companies. Key aspects influencing this potential include improved data generation, targeted strategies for mineral exploration, and a supportive regulatory environment, aiming to transition Nigeria into a competitive mining destination.

To attract major players in the mining industry, Nigeria must prioritise investments in mineral exploration and the generation of accurate geoscientific data. The current strategies involve engaging the private sector and creating favourable conditions for junior investors. By developing both Brownfield and Greenfield sites, Nigeria could rejuvenate its mining sector, potentially leading to significant economic mineral discoveries that would appeal to international investors.

Original Source: leadership.ng

The post Strategies For Attracting Mining Giants To Nigeria first appeared on Nigerian Mining News.

Dele Alake, Nigeria’s Minister of Solid Minerals Development, has encouraged South African investors to seize opportunities within Nigeria’s mining sector. At the inaugural International Investment Forum and Roadshow in South Africa, he highlighted ongoing reforms that aim to enhance the business environment for mining. Alake stated that under President Bola Tinubu’s administration, there is a renewed commitment to developing solid minerals, which is central to the country’s economic growth. He aims to attract global mining firms, emphasizing the potential for partnerships that would benefit both Nigeria and its investors.

Nigeria’s mining sector has been undergoing significant reforms aimed at revitalising its potential and attracting foreign investment. The government views the enhancement of this sector as crucial for national development, especially as the global demand for minerals increases. The current administration acknowledges that substantial investment and collaboration with international mining companies are necessary to fully exploit the nation’s abundant mineral resources, thus driving economic progress.

The focus on Nigeria’s mining sector aims to make it more appealing to investors through comprehensive reforms and government support. The collaboration with leading global mining companies could lead to improved resource utilisation and a boost in national revenue. The commitment of the Tinubu administration to solid minerals development is expected to place Nigeria firmly on the global mining map, fostering investment opportunities.

Original Source: www.thecable.ng

The post Nigeria’s Mining Sector: Investment Opportunities for South African Investors first appeared on Nigerian Mining News.