UK appears to have taken keen interest in Nigeria’s mining sector at last fueling hope that the African can do something about spiraling illegal mining in the country.
Recent meeting of UK’s representative with African country’s Dele Alake, Minister of Solid Minerals fueled this speculation.
According to details later released by Alake’s office after the visit, the UK representative is in the country as part of strategic move to enhance cooperation in the mining sector.
“The aim is to streamline efforts and foster collaboration for the development of crucial mineral deposits within the country,” the media report on the visit said. Continue Reading…
Between 2017 and 2022, federal government of Nigeria spent billions of naira borrowed from multilateral countries to develop its mining sector.
The sector became largely de-risked after wholesale geo-spatial mapping of list of 30 different minerals commercially viable.
But UK visit and interest dates back to a meeting between UK Deputy Prime Minister Oliver Dowden and Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, during the Mines and Money Conference in London last year.
Dowden expressed the United Kingdom’s keen interest in Nigeria’s Lithium resources. The product is rapaciously mined, illicitly, in Nigeria by foreign interests.
In a statement by Segun Tomori, aide to the Honourable Minister of Solid Minerals Development, discussions from this encounter paved the way for further engagement.
During the visit, Baxter reiterated the UK’s commitment to refining the details of collaboration, ultimately leading to investments in various facets of the mining sector value chain.
Minister Alake highlighted the Tinubu administration’s dedication to improving the ease of doing business in mining. He emphasized the implementation of a new security architecture for natural resources and the establishment of a private-sector-led Nigerian Mining Corporation as crucial steps in achieving this.
Deputy High Commissioner Baxter commended Nigeria’s efforts to diversify its economy and acknowledged the Minister’s initiatives in bringing global attention to the mining sector.
Both parties agreed to establish a joint technical working group to solidify the partnership and encourage investment in the mining industry.
The British delegation accompanying Deputy High Commissioner Baxter included political counselor Tom Burge, Senior Political Adviser Wale Adebajo, and Trade Market Access Lead from the UK Department for Business and Trade, Simeon Umukoro. Continue Reading…
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