Nasarawa Attracts New $800m Solid Mineral Investment –Alake

Minister of Solid Minerals Development, Mr Dele Alake, has disclosed that his ministry has facilitated another deal worth $400m for the establishment of the largest rare earth minerals plant in Africa to be sited in Nasarawa State.

According to the minister, the local value addition policy of the President Bola Ahmed Tinubu-led administration is transforming the solid minerals sector, with Nasarawa State being the centrepiece of solid minerals in the country.

“Rently, because of the positive effect of this local value addition policy, in Nasarawa State alone, we have attracted over $800m in direct foreign investment in the sector.

“Only two days ago, I sealed another historic deal for a USD400m rare earth minerals and critical metals plant, which is the largest in Africa to be sited in Nasarawa.

“This Africa‘s largest rare earth mineral is going to be cited in Nasarawa State and is going to generate at completion over 10, 000 jobs.

“We have asked them to put their separation centres in other geopolitical zones of the country so that all parts of Nigeria will benefit from this landmark achievement,”he said.

The minister commended Governor Abdullahi Sule for providing the enabling environment for massive investment in the solid mineral sector, noting that the governor is partly responsible for the federal government‘s success record through mining activities.

He said Governor Sule by his contribution to the sector can unofficially be announced as minister of state for solid mineral development.

Responding, the governor appreciated the minister for ensuring that investors in solid minerals come to Nasarawa State to invest.
Governor Sule announced that one of the largest lithium mining and processing plants in the state will be commissioned again in two months.

„The state right now boasts of having the biggest in the country so far, but in the next two months, we are going to commission one that is three times what we have just seen right now in Endo. And that one is owned by Julian Mining and Kanmas.

„These companies are the biggest when it comes to lithium mining worldwide, and I have visited their facilities.

„We entered into an agreement recently with one of the companies that is building these biggest lithium companies, and that one has already given us what they called a signature bonus, a part ownership of N2.5 billion, which we are sharing with the community,“ he explained.