MMSD pledges partnership with CRIG for investment promotion in mining sector
By Gloria Akudoro, Abuja
The Ministry of Mine and Steel and Development (MMSD) has expressed its readiness to collaborate with China Railway Investment Group Limited (CRIG) to build-up Mining investment drive through proper harnessing of the vast mineral deposits across the various states of the federation.
The agreement was made known in a statement released by the Head of Publicity Public Relations, Store Thomas at the Ministry’s Headquarters in Abuja.
According to the Minister, Arch. Olamilakan Adegbite noted that the ministry can avail them the opportunity 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.
“To ensure rapid socio-economic growth in line with the change mantra of the present administration, Arch. Adegbeti has solicited for investment in Mining and processing some readily available major minerals such as Gold, Bitumen, Barite, Led, Zinc, Cobalt, Litium, coal tar, coal, gemstones and about 44 discovered minerals abounding in the country.
“This will satisfy and expand both local and international markets and ensure the GDP growth of the economy,” he noted.
He further hinted that the ministry is likely to commence the auctioning of Bitumen licenses by October this year, and urged critical investors to key into the ample opportunity to immensely contribute to the growth of the Solid Mineral Sector for viable nation.
Arch. Adegbeti implored investors to also invest in the Ajaokuta Steel plant, disclosing that about 13 to 14 needed to produce Liquid Steel from the plant are all available in Nigeria. Adding that, “the ministry awaits the completion of the blast furnace to kickstart production.”
He noted that the ministry is certain to make available the literatures on the abundant minerals in the country and its usage to enable investment choices.
Earlier in his address, the leader of the delegates, Dr. Sunny Okorie, stated that his company, a huge consutium with over $50,000 turnover per annum had already invested in many businesses in Nigeria. He said, their purpose of visit was to seek investment opportunity in the Mining Sector for the benefits of the citizenry.
The acting Investment Promotion and Mineral Trade (IPMT), Mr Yunusa Mohammed, in his remarks promised the visiting team of the Ministry’s support in providing the needed information in the Sector. He noted that very serious-minded investors are needed to key into the sector of the economy in order to contribute meaningfully to the economic growth.
