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Nigeria has enough minerals to power electric cars, phones – Minister

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 Nigeria has enough minerals to power electric cars phones Minister

The Minister of Mines and Steel Development, Olamilekan Adegbite,while speaking to a hall full of international investors, said that Nigeria has the mineral of the future that can power electric cars and phones.

Adegbite, who was speaking during one of the investors’ forums at the just concluded Mining Conference in Riyadh Saudi, urged investors to make a stake in the Nigerian Mining sector, which he noted was one of the most investor friendly in the world.

Adegbite equally revealed that some major mining companies had begun to express interest in the Nigerian Mining sector.

He also disclosed that the country intends to auction rights to mine some strategic minerals later this year.”We have strengthened governance and transparency in the sector and provided assurance to investors through the upgrade, automation, and decentralization of the Mining Cadastre Office (MCO); We are improving the connectivity between investors and the public with important geological information through the establishment of a Nigeria Geo-Data Centre at the Nigerian Geological Survey Agency,” Adegbite said.

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The minister also noted that the country had learnt its lessons from over 50 years of resource extraction. “As we deepen our efforts to revitalize the mining sector, we are doing so with lessons learnt from a half-century of resource extraction. We recognize, for instance, that it is not enough to seek investments merely for the sake of exploitation and extraction. Rather than writing this new chapter of economic growth, our aim is to develop local industries, generate employment, and focus on resource beneficiation to create wealth along the mineral value chain.” He said.

Later while speaking to some foreign media the minister noted that the federal government had invested $50 million to explore gold, lithium and several other metals.

Adegbite said that: “To date the country has discovered over 44 minerals occuring in commercial quantities across the 36 states and the federal capital Territory. These include gold, lithium, copper, cobalt, oxide, amongst others”.

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