FG to collaborate with Chinese Govt on mineral deposits

FG to collaborate with Chinese Govt on mineral deposits

The Federal Government has said that it will work with China Railway Investment Group Limited (CRIG) to exploit the country’s vast mineral deposits.

The Minister of Mines and Steel Development Olamilekan Adegbite, expressed government’s readiness while receiving the team of CRIG on Saturday in Abuja.

Adegbite said that the ministry would provide CRIG with opportunities to invest in priority areas, according to a statement released by Mrs.  Etore Thomas, the ministry’s Director Press.

“The ministry can avail CRIG the opportunities to invest both on mining and metal sector once there is genuine expression of interest in the sector that will facilitate the industrialisation and prosperity of the nation,” he said.

Adegbite sought investment in the mining and processing of gold, bitumen, barite, led, zinc, cobalt, lithium, coal, and gemstones, among other minerals.

This, he said, would satisfy and expand both the local and international markets and ensure the GDP growth of the economy.

“The ministry is likely to begin auctioning of Bitumen licences by October this year and critical investors should utilise such ample opportunity to immensely contribute to the growth of the sector for a viable nation,” said the minister.

He also called on investors to fully invest in Ajaokuta Steel Plant, disclosing that about 13 to 14 minerals needed to produce Liquid Steel from the plant were all available in Nigeria.

Mr Adegbite also urged investors to completely invest in the Ajaokuta Steel Plant, revealing that the plant’s Liquid Steel production requires roughly 13 to 14 minerals, all of which are readily available in Nigeria.

He assured that the ministry would provide them with literatures on the abundant minerals in the country and their usages to enable their investment choices. Earlier, the leader of the CRIG delegate, Dr Sunny Okorie, said that their firm, which is a big consortium with over 50,000 dollars turn over per annum, had already invested in many businesses in Nigeria.

The goal of their visit, according to Adegbite, was to look for investment opportunities in the mining sector for the benefit of the citizens. Mr.  Yunusa Mohammed, Acting Director of the Ministry’s Investment Promotion and Mineral Trade (IPMT) Department, also guaranteed the government’s help in delivering vital information on the sector to the team. According to Mohammed, significant investors are needed to participate in this industry in order to help the country’s economy thrive.

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