Nigeria and Saudi Arabia have agreed to collaborate on mineral exploration and development, leveraging Saudi firms’ record in mineral exploration.
Segun Tomori, the Special Assistant on Media to the Minister of Solid Minerals Development, Dele Alake, made this known in a statement on Tuesday in Abuja. He said that the decision was taken at a closed-door meeting between a delegation from Saudi Arabia led by its Minister of Mining, Bandar Al-Khorayef, and Nigeria’s delegation led by Alake.
Nigerian Solid Minerals Minister Dele Alake proposed partnerships focusing on the sector’s value chain, specifically highlighting gold refineries and mineral export opportunities. The Saudi Minister of Mining, Bandar Al-Khorayef, emphasised joint government and private sector efforts to introduce new mineral exploration technologies.
Key collaboration areas include gold market access for Nigerian refineries, lithium and iron ore processing, technology and data sharing, and potential investment in mineral exploration.
Alake noted the global transition to electric technologies has positioned Nigeria as a critical mineral supplier. He promised to provide geological data to de-risk potential Saudi investments and committed to creating an enabling environment for mining projects.
During the Future Minerals Forum, themed “Year of Impact,” held from January 14-16, the minister highlighted Nigeria’s West African-leading mineral laboratories as a key attraction for potential investors. focusing on critical minerals essential for global energy transition.
Follow the AkweyaTV channel on WhatsApp: https://whatsapp.com/channel/0029Va7m7dvJuyA7h5XMc22i
