MMSD Pledges Partnership with Crig For Investment Promotion in Mining Sector

To ensure rapid socio – economic growth in line with the Change mantra of the present Administration,  the Minister of Mines and Steel Development, MMSD, Arc. Olamilekan Adegbite has expressed the Ministry’s readiness to collaborate with China Railway Investment Group Limited CRIG, in strengthening Mining investment drive through proper harnessing of the versed Mineral deposits across the various States of the Federation.

Speaking when the visiting team of China Railway Investment Group Limited paid him a courtesy call at the Ministry’s Headquarters in Abuja on Thursday, he noted that the Ministry can avail them the opportunities of investment in priority areas of both Mining and Metal Sector once there is genuine expression of interest in the Sector that will facilitate the industrialization and prosperity of the nation.

The Minister canvassed for investment in Mining and processing some of the major minerals, which are readily available such as Gold, Bitumen, Barite, Led, Zinc, cobalt, Lithium, coalta and coal, and gemstones, among about 44 discovered minerals abounding in the country. This, he said,  will satisfy and expand both the local and international markets and ensure the GDP growth of the economy.

Arc. Adegbite hinted that  the Ministry is likely to begin auctioning of Bitumen licenses  by October this year, adding that critical investors should utilize such ample opportunity to immensely contribute to the growth of the Solid Mineral Sector for a viable nation.

He also wooed investors to fully invest in the Ajaokuta Steel Plant, disclosing that about 13 to 14 minerals needed to produce Liquid Steel from the Plant are all available in Nigeria. The only thing remaining for it to  kickstart production is the completion of the blast furnace.

He assured that the Ministry will provide them with literatures on the abundant minerals in the country and their usages to enable their investment choices.

Earlier in his address, the leader of the delegates, 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. He said the purpose of their visit was to seek investment opportunities in the Mining Sector for the benefit of the citizenry.

In his remarks the Acting Investment Promotion and Mineral Trade (IPMT), Mr Yunusa Mohammed, promised the visiting team of the Ministry’s support in providing needed information on the Sector. He stressed that very serious investors are needed to que into this Sector of the economy in order to contribute to economic growth.