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 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.