The Federal Authorities says it has commenced operations at a high-purity gold refining plant in Lagos.
That is in keeping with a press release issued on Tuesday by Segun Tomori, media aide to the Minister of Strong Minerals Growth, Dr Dele Alake.
Other than the Lagos refining plant, the federal authorities introduced progress on three further gold refineries at completely different phases of growth throughout the nation and a $600 million lithium processing plant in Nasarawa State that’s prepared for commissioning.
What the Minister is saying
Alake mentioned the developments mark a serious step in Nigeria’s drive to reposition itself as Africa’s main minerals processing hub, transferring decisively away from the export of uncooked minerals.
He mentioned “the initiatives underscore the success of the Federal Authorities’s value-addition coverage, which goals to spice up income, create jobs and strengthen Nigeria’s competitiveness within the world mining business”.
In keeping with the assertion, Alake spoke throughout a bilateral assembly with Saudi Arabia’s Minister of Business and Mineral Sources, Mr Ibrahim Al-Khorayef, forward of the Future Minerals Discussion board (FMF) scheduled to be held in Riyadh from January 13 to fifteen.
The assertion mentioned the assembly targeted on strengthening cooperation in minerals growth and industrialization.
“Nigeria’s value-addition coverage is yielding outcomes, with a high-purity gold refinery now operational in Lagos,” Alake mentioned.
Extra gold refineries, diminished unlawful exports
The minister disclosed that three further gold refineries are at the moment at varied phases of growth and are anticipated to considerably cut back unlawful mineral exports whereas bettering traceability throughout the worth chain.
He famous that the increasing refining capability would improve transparency and strengthen investor confidence in Nigeria’s strong minerals sector.
$600m lithium plant prepared for inauguration
Alake additional revealed {that a} $600 million lithium processing plant in Nasarawa State has been accomplished and is awaiting formal commissioning.
“A $600 million lithium processing plant in Nasarawa State was accomplished and prepared for formal inauguration,” he mentioned.
In keeping with him, the ability is predicted to help battery manufacturing worth chains, significantly for electrical autos and renewable power storage, whereas attracting further international and native investments.
Positioning Nigeria for the inexperienced power transition
Alake mentioned the rising lithium and gold processing crops are positioning Nigeria as a important world companion in minerals required for the inexperienced power transition.
He famous that lithium and gold play strategic roles in electrical autos, renewable power storage techniques and superior manufacturing worldwide.
Strengthening Nigeria–Saudi Arabia collaboration
The minister counseled Saudi Arabia for increasing collaboration alternatives throughout Africa, the Center East, Asia and Europe by means of the Future Minerals Discussion board, which he described as an important platform for aligning nationwide methods with world mineral provide wants.
He mentioned Nigeria was desperate to deepen partnerships with Saudi Arabia by leveraging areas of comparative benefit.
“There are areas the place Saudi Arabia excels and others the place Nigeria has strengths.
“We’re eager on structuring agreements that allow significant, balanced and constructive engagement,” Alake mentioned.
Precedence areas for cooperation
In keeping with the minister, precedence areas for collaboration embrace capability constructing, coaching of mining professionals, expertise switch and mineral exploration.
He famous that Saudi Arabia has demonstrated robust experience in exploration applied sciences and geological knowledge administration, whereas Nigeria’s huge landmass holds plentiful important minerals and uncommon earth components.
Alake recalled that following FMF 2025, a joint working group with the Saudi Chamber of Commerce sustained engagements all year long, including that the group’s report is now prepared for presentation earlier than the shut of the present discussion board.
Deal with traceability and ESG requirements
The minister additionally recognized mineral traceability, environmental, social and governance (ESG) requirements, and mine-pit remediation as key areas for future collaboration.
“Mineral traceability boosts investor confidence and should anchor partnerships, alongside clear timelines and sturdy monitoring mechanisms,” he mentioned.
What it is best to know
- Gold is projected to take care of its upward trajectory, surging by 15-30% in 2026, in keeping with a brand new outlook launched by the World Gold Council.
- The dear steel delivered a standout efficiency in 2025, recording greater than 50 all-time highs and producing returns of over 60%.
Be First to Comment